Page 1 - Retiree News Winter 2025

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etiree etiree NEWS R
Mary E. Sullivan, President
WINTER 2025 Editor’s Note: State
beneficiary. Once you make this beneficiary
Comptroller Thomas P.
designation at retirement, it can’t be changed.
DiNapoli has written this
If you chose the Five or Ten Year Certain
column to provide important
pension payment option, you are allowed to
updates to CSEA Retiree
change your pension benefit beneficiary after
members.
you retire, and you can designate multiple
beneficiaries.
Picture this: A NYSLRS
member designates
Post-Retirement Death Benefit Beneficiary
their significant other
Some retirees are eligible for a post-
as the beneficiary of their
DiNapoli retirement death benefit, depending on your
death benefit. The member
retirement plan and tier. If eligible, you can
eventually gets married
designate one or more post-retirement death
(though not to the previous significant other), benefit beneficiaries to receive a one-time,
raises a family, retires and then passes away. lump sum benefit after your death. You can
the secure contact form on our website at Throughout that entire time, the retiree change these beneficiaries at any time.
www.emailNYSLRS.com or by writing to us at never updated their death benefit beneficiary,
NYSLRS, 110 State Street, Albany, NY 12244- even though they would have preferred the How divorce can affect your beneficiary
0001.
benefit go to a family member instead. Because designations
For post-retirement death benefit
no updates were ever made, the death benefit There may be instances where you are
beneficiaries, use Retirement Online (bit.ly/ goes to the old significant other. required to name someone specific as your
RO-sign-in) to submit updates quickly and While the story above may sound extreme,
beneficiary. If you’re divorced and have a
securely.
we have had situations where retirees have
Domestic Relations Order (DRO), you may need
You should also ensure your beneficiaries or forgotten to update their beneficiaries or
to name your ex-spouse as the beneficiary of
other survivors know how to contact NYSLRS misunderstood which beneficiaries could be
your pension benefit or your post-retirement
in the event you pass away. They can report changed. This is why I want to make sure your
death benefit. If you become divorced and
your death to NYSLRS through our online beneficiary designations reflect your current
receive a DRO that affects your pension, please
Report a Death form (web.osc.state.ny.us/ wishes and show you ways to update them.
contact us at DRO@osc.ny.gov.
retire/contact_us/report_death/index.php), or by calling our toll-free number at 866-805-0990 What kind of beneficiaries can retirees
Your responsibility as a retiree
(press 3, then 1). They will also need to mail an have?
Make it a habit to check your beneficiaries
original, certified death certificate to NYSLRS regularly to ensure your previous designations
before any benefits can be paid.
Pension Benefit Beneficiary
match your current wishes. You should
When you retired, you chose a payment
also check that we have up-to-date contact
Learn more about beneficiaries and your option for your pension. Some options, like
information for your beneficiaries. When you
death benefits
joint-allowances and pop-ups, provide you with
die, we’ll need to contact them about their
Visit our Death Benefits page at www.osc.
a smaller monthly benefit to provide a lifetime,
future benefits.
ny.gov/retirement/retirees/death-benefits for monthly benefit to one designated beneficiary
For pension benefit beneficiaries, send
more information about beneficiaries and the after your death. This is your pension benefit
their updated contact information through
different death benefits available to you.
From State Comptroller Thomas P. DiNapoli:
Let’s Talk About Beneficiaries