Facts & Research

2023 PAFR – An abbreviated version of NYSTRS' annual report for the fiscal year ended June 30, 2023.

The Pension Dollar – A hypothetical NYSTRS pension dollar shows how the System is funded and the impact pensions have on the economy.

Benefits Paid by County – See the total payments and number of benefit recipients by New York State county.

NYSTRS by the Numbers – A statistical overview of NYSTRS, one of the nation's largest public pension systems.

See Also

• NYSTRS: Modeling Excellence
• Average Employer Contribution Rate
• Distribution of Annual Pensions
• Know Your NYSTRS Facts
• Annual Report
• Learning About NYSTRS

Pensionomics 2023: Measuring the Economic Impact of Defined Benefit Pension Expenditures – Defined benefit pensions provide a huge boost to economic output, jobs and tax revenue in all levels of the U.S. economy, according to a new study by the National Institute on Retirement Security (NIRS). Retiree spending of pension benefits in 2020 – the most recent year studied – generated $1.3 trillion in total economic output and supported nearly 6.8 million jobs across the nation. Pension spending also added nearly $157.7 billion to government coffers at the federal, state and local levels, the report found.

A Better Bang for the Buck 3.0 – The National Institute on Retirement Security (NIRS) finds defined benefit (DB) pension plans offer substantial cost advantages over 401(k)-style defined contribution (DC) accounts. A typical pension has a 49 percent cost advantage as compared to a typical DC account, with the cost advantages stemming from longevity risk pooling, higher investment returns, and optimally balanced investment portfolios.

NCPERS Study Finds Public Pension Funding Levels Rose – Despite the use of more conservative actuarial assumptions, the average public pension plan funding level increased to 72.6% in 2018. (NYSTRS is virtually 100% funded.) Among other findings in the 2018 National Conference on Public Employee Retirement Systems (NCPERS) Public Retirement Systems Study is that public pensions remain among the most cost-effective plans nationally.

Stability in Overall Pension Plan Funding Masks a Growing Divide – Big gaps in funding status exist among public pension plans across the country, according to a recent study of 180 plans by the Center for Retirement Research at Boston College. The top plans – including NYSTRS with a funded ratio of virtually 100% – were stronger due to higher investment returns and more consistent employer contributions, the study found.

Retirement in America: Out of Reach for Working Americans? – Public policy changes, including strengthening Social Security, are needed to address a growing retirement crisis in which the typical working American has no retirement savings, according to an analysis by the National Institute on Retirement Security.

See Also

• How Much Income Do Retirees Actually Have?
• State and Local Spending on Employee Retirement Systems (2019)
• NCPERS Study: Pension Plans Meet Obligations
• Why Pensions Matter: The History of Defined Benefit Pension Plans in the USA (2017)
• Retirement Security 2017: Americans' Views of the Retirement Crisis
• Understanding Public Pensions: A Guide for Elected Officials (2017)
• Pension Reform Since the Financial Crisis (2017)
• Preserving Retirement Income Security for Public Sector Employees (2016)
• State and Local Pension Funding: 2015-2020
• PublicPlansData.org
• NIRS: Move to DC Did Not Save Money for States (2015)
• Efforts to Address Pension Costs, Sustainability
• Lessons From Well-Funded Public Pensions