VERIFY YOUR ERS MEMBERSHIP!
Many people think they automatically become members of the New York State Employees’ Retirement System (ERS) when they are hired. This is NOT true!
To become a member of the ERS, you must fill out a form: “Employees’ Retirement System Membership Registration” (Form RS 5420) Usually, this happens at your employer’s orientation or when you fill out the paperwork for things such as medical and dental benefits or tax withholding.
Once you are an enrolled member of the ERS, you should check to make sure:
· Your contribution to the ERS is withheld from your paycheck. Check your pay stub for this. For Tier 3 & 4 members contributions are withheld for the first 10 years of your employment; for Tier 5 and 6 members, contributions are withheld for your entire career. (Tier 1 and 2 members make no mandatory contributions.) Keep at least 1 pay stub from each year to show this withholding – in case you ever have to prove you are an ERS member. The best pay stub to keep is the last one you receive in December.
· You should also receive an Annual Member Statement from the ERS; it comes every May or June. Save this statement. You should also receive bulletins from the ERS several times a year.
If neither of these things is happening check with your employer’s business office or call the ERS directly at 866-805-0990 to see if you are enrolled in the ERS. DO NOT WAIT – take care of this immediately!
To join the ERS it’s only a matter of filling out a form. If you’ve been working for several years and find out you are not an ERS member, you can buy back that time. Start the process sooner, rather than later – it will cost you less.
For general information about the ERS, contact NYSUT ERS Consultant Kathy Hine at 585-454-5550. She can also help you obtain the forms needed for things such as buying back time.
If you want to check on your ERS membership or know how much your pension will be contact the ERS directly at 866-805-0990. Kathy doesn’t have access to any of your confidential retirement information.