June 2015 Issue
May 21, 2015

ERS: Understanding your Member Annual Statement

Author: State Comptroller Thomas P. DiNapoli
Source: NYSUT United

New York State Comptroller Thomas P. DiNapoliEach spring we create your individualized Member Annual Statement (MAS), an important document summarizing your benefits in the New York State and Local Employees' Retirement System as of March 31.

Members employed by school districts, BOCES or colleges can expect to receive their MAS before the end of the school year. For most members, your MAS is distributed to you by your employer. If you're no longer on a public payroll, however, we'll mail your MAS to the address we have on file for you.

Your MAS is a helpful tool as you build the foundation for a financially secure retirement. It contains:

  • Basic membership information (name, address, date of birth, registration number, tier, date of membership and date of first credited service);
  • Any outstanding retirement system loans (and the permanent reduction to your pension benefit if not paid prior to retirement);
  • Past service costs (if applicable) and service credited;*
  • Earnings reported over the past state fiscal year (April 1 – March 31); and
  • Beneficiary and death benefit information.

Most importantly, it projects your pension benefit at different ages for the various payment options available, based on the earnings and service information we have for you in our records. These benefit projections can be especially helpful as you near retirement. If you're considering retiring within the next five years, you can also request a retirement benefit projection from our Call Center.

When you receive your MAS, read it over carefully. If there is an error in your reported earnings or service credit, check with your employer as your employer will need to send us any adjustments. If any other information is incorrect, let us know so we can make the necessary corrections.

For more information, visit our website at www.osc.state.ny.us/retire/members/mas_index.php where we offer an easy to use tutorial. It explains the information contained on each page of your MAS and also answers your most frequently asked questions.

*Total service credited generally is not listed on the MAS for Tier 1 members as some of their service predates the automation of our records.

Every month state Comptroller Thomas P. DiNapoli, sole trustee of the New York State and Local Employees' Retirement System, provides information on the system, which delivers retirement benefits to many NYSUT School-Related Professionals and other support staff. If you are an ERS member with a question of general interest, email united@nysutmail.org.

For immediate assistance, contact the ERS Call Center toll-free at 866-805-0990, or 518-474-7736 in the Capital District area.

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