Pension 101: Intro to NYSTRS

Are you new to NYSTRS? If so, welcome! You’ve just joined one of the top 10 public pension funds in the country. Starting with your first paycheck, you’re working toward a guaranteed NYSTRS pension.

Retirement may seem distant at this moment. But now is a great time to learn about your NYSTRS benefits. 

Why Think About Retirement Now?

The earlier you understand how your pension works, the better prepared you’ll be. 

Unlike a 401(k) or other defined contribution plans where your benefit depends on how much you save and how the markets perform, NYSTRS provides a defined benefit pension. That means when you retire, you’ll receive a monthly payment for life based on your earnings and service credit history. 

From the start, you contribute a percentage of your salary. Your employer contributes as well. NYSTRS then invests those member and employer contributions using a prudent investment strategy designed to maximize returns while also limiting risk. 

If you become vested and remain a NYSTRS member, these investments will ultimately help fund your pension. So take time to learn the basics now and make the most of your pension when you retire.

Get Started with These First Steps 

• Check out What New Members Need to Know About NYSTRS.
• Create your MyNYSTRS account to review service credit and earnings, update your contact info and beneficiary designation, and e-subscribe to our Your Source newsletter.
• Review the Active Members’ Handbook to learn more about contributions and credit.

Take Charge of Your Future

By getting informed now, you’ll avoid surprises and make confident decisions along the way. And remember – NYSTRS is here to guide and support at every step of the journey.