Enhanced Pension Estimator Now Available

(May 18, 2011) – When you are carefully planning for retirement, one of your most important considerations is how much of a pension you can expect to receive.  To ensure you have the most accurate and up-to-date projections possible, NYSTRS has enhanced the Pension Estimator available on its Web site.

The latest version of this estimator, available through the secure MyNYSTRS area, utilizes data as reported to us by your employers when calculating potential benefits. This differs from the earlier version of the calculator, which required the user to input salary and service information. Calculations provided by the revised estimator will be closer to the actual benefit.

That said, please be advised that a benefit estimate is merely an estimate — not a representation of entitlement. A retiree's actual benefit compensation is based on proof of salary and documentation obtained when the retirement process is completed.

In addition to providing projections based on reported salary and service information, the new estimator allows you to produce projections based on different payment options. The previous calculator provided only the Maximum retirement benefit.

The estimator also permits you to enter various retirement dates, allowing you to see how much your benefit will increase if you continue to work. This is particularly important if your benefit would no longer be reduced after you reach certain service and age milestones.

You will need a MyNYSTRS account to use the new estimator. Creating an account is quick and easy. Select “Create Account” from the MyNYSTRS button found on the left of most every page on our Web site and follow the instructions. You’ll need your:

1. NYSTRS’ employee identification number (EmplID), found on your Benefit Profile and all official System correspondence;

2. Social Security number; and,

3. Date of birth.

After creating your username, NYSTRS will send you a randomly assigned password via e-mail or the U.S. Postal Service, depending on the delivery method you choose.  You will have to login to your account within 30 days to activate your registration.

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