New York State Local Retirement System

seal

Feb 12, 2018  The New York State Common Retirement Fund’s (Fund) overall return in the third quarter of the state fiscal year 2017-2018 was 4.12 percent for the three-month period ending Dec. 31, 2017, with an estimated value of $209.1 billion, according to New York State Comptroller Thomas P. DiNapoli.  “A strong equities market continued to provide solid returns on investments during the last three months of 2017,” DiNapoli said. “Notwithstanding recent volatility, we have welcomed the stock market’s nearly decade-long rise. Our foremost goal will always be to find stable, long-term returns that will continue to provide retirement security for the pension fund’s more than one million members, retirees and beneficiaries.”

Returns in recent years have resulted in reductions in employer contributions in fiscal years 2013-2014, 2014-2015 and 2015-2016, allowed them to remain stable in 2017-2018. The contribution will drop further for 2018-2019. This means Westchester County & other cities and towns do NOT face increased payments for pension costs.  When contribution rates rose in the midst of the 2008 Wall St Recession, hostility towards public employee pensions rose along with them. Thanks to years of strong management from Comptroller DiNapoli, contribution rates have stabilized and New York has one of the strongest pension plans in the country.    Employer Pension Contribution history

Where in New York are Pension System Retirees Living?  78% live right here in New York State.  It is a myth that they leave NY ! ! 


The New York State Retirement System  has free consultations Wednesdays at the:

White Plains office Main St and Martin Luther King Blvd
Clarence D. Rappleyea Bldg. (silver office building)
123 Main Street, 1st floor, White Plains, NY
(corner of Dr Martin Luther King Blvd)
9:00 a.m. – 12:00 noon    1:00 p.m. – 4:00 p.m.

Consultations are by appointment only.
  There are other offices also
You do not need an appointment to drop off forms, pick up information or have something notarized.
To schedule an appointment, contact the Call Center toll free at:
 1-866-805-0990
The Main office: New York State and Local Retirement System
110 State Street   Albany, NY 12244-0001
Retirement System News Page
Their “Contact Us” page on the web
Tips on Planning For Retirement
Subscribe to email news from the NY State Pension System

NYS Comptroller Tom DiNapoli.  He is a good friend of municipal workers in New York and a strong defender of the defined-benefit retirement system we have in New York.   Know his name and be ready to vote for your own best interest when he needs re-election.

 

 

Share