Member Annual Statements Coming Soon
Submit March Reports on Time for Accurate Member Annual Statements
Later this spring, NYSLRS members will receive their Member Annual Statements, which provide them with an overview of their account information through March 31, 2024.
Reporting Contacts: please submit your March report on time, by April 7. NYSLRS needs the information you provide in your March report to compile an accurate Member Annual Statement for your employees.
Remind Employees to Update Contact Information with NYSLRS
Member Annual Statements are sent to the email or mailing addresses we have on file. Please remind your employees to update their contact information with us. Changing their information with you, their employer, does not update their records with NYSLRS. Share this blog post about ensuring they receive their Annual Statement by using Retirement Online to update their contact information.
New Contribution Rates for Tier 6 Members
Tier 6 contribution rates are based on reported earnings and can change annually. Sign in to Retirement Online to view member contribution rates and identify employees whose rates have changed. Be sure to update your payroll system and withhold the proper amount from your employees’ earnings based on the new rates.
It's important to update member contribution rates as of April 1. If a member’s rate increased and you don’t increase the amount withheld from their earnings, the member will need to pay deficient contributions plus interest, which accrues monthly on unpaid balances.
For more information, including how Tier 6 contribution rates are calculated, visit our Member Contributions page.
Reminder for Contribution Stabilization Programs:
4/1 Deadline to Withdraw for 2025
Employers who participate in the Contribution Stabilization Program (CSP) or the Alternate Contribution Stabilization Program (Alternate CSP) have the option to withdraw from either program after all prior years’ amortizations are paid in full, including interest.
If your organization wishes to withdraw for the invoice due February 2025, a termination request form must be submitted by April 1, 2024. An authorized person from your organization (the CEO, CFO, or person designated by them) will need to complete the form.
The form should be emailed as an attachment to [email protected]. Or, if mailed, received by NYSLRS or sent by Certified Mail by April 1, 2024.
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