NYSLRS

Just filed your NYSLRS retirement application? Here’s what happens next.

The annual contribution limit for deferred compensation (457b) plans will be $19,500 in 2021, the same as in 2020. Workers over aged 50 can save an additional $6,500 in catch-up contributions.

What was retirement like the year you were born? Scroll through this article to find out how retirement has changed over the past century.

The 15-day waiting period for NYSLRS retirement applications has been waived through January 1, 2021. Normally, retirement applications must be received at least 15 days before a member’s retirement date. But an executive order waiving the 15-day requirement was extended to protect members’ families during the COVID-19 crisis.

Suspension of the post-retirement earnings limit of $35,000 a year for retirees in a public-sector job who are under the age of 65 has been extended to January 1, 2021. The limit has been temporarily suspended because of the COVID-19 emergency. Pay earned from March 27, 2020 through January 1, 2021 will not count toward the $35,000 cap.