With direct deposit, your pension payment is deposited directly into your bank account on the last business day of each month. Our Pension Payment Calendar lists the schedule of direct deposit dates by month.
Not using direct deposit yet? Don’t wait to receive a check in the mail—direct deposit is fast, convenient and secure. Sign up for direct deposit now and get your money sooner.
Keep Your Direct Deposit Information Updated
It’s always important to keep your direct deposit information up to date because changing financial institutions or accounts will affect whether you receive your monthly pension benefit. If anything changes, please update your information with NYSLRS as soon as possible. After you submit changes, we’ll send you a confirmation letter with the effective date of the change.
Important: You should keep your current bank account open until you receive our letter confirming the date we will begin depositing your pension payment into your new account. If you closed the account before the change to your direct deposit is effective, contact us.
Use Retirement Online to Update Your Direct Deposit Information
Retirement Online is the fastest and most convenient way to update your direct deposit information. Your changes will generally be applied to your next month’s pension payment.
- Sign in to Retirement Online.
- From Account Homepage, click Update Direct Deposit.
- Follow steps to update your bank account number and routing number.
Be sure the account number and routing number you enter are correct. You are limited to one direct deposit transaction in Retirement Online per day.
If you have a joint account holder on your bank account, you’ll need to print and complete the Electronic Funds Transfer Direct Deposit Enrollment Application (RS6370) and have your joint account holder sign the form. It’s best to do this in advance so you can upload the completed form while updating your direct deposit information in Retirement Online. However, you can upload the completed form later.
Other Ways to Update Your Direct Deposit Information
You can update your direct deposit information by completing an Electronic Funds Transfer Direct Deposit Enrollment Application (RS6370) and submitting it using our secure contact form or by mail. Please note, using a paper form will take longer for the information to reach us, and it may take up to 60 days to apply your changes.
Be sure to attach a voided check or have a bank representative complete section three of the form.
Secure Contact Form
- Fill out all required fields on our secure contact form.
- From the Topic dropdown, select Direct Deposit.
- Attach your completed form using the Browse… button.
NYSLRS
110 State St
Albany, NY 12244-0001
Ask Your Bank to Fax Your Changes
If you are changing account numbers but not changing banks, your bank can fax your direct deposit changes to 518-473-5323. If your bank faxes your request, you don’t have to update your direct deposit information in Retirement Online or submit a paper application.
A bank representative must include the following information on their letterhead:
- Your name
- Your NYSLRS ID or retirement number
- Old and new account numbers and bank routing number
- A bank representative’s signature
Sign Up for Direct Deposit
With direct deposit, your pension payment is deposited directly into your bank account—it’s fast, convenient and secure. You’ll avoid mailing delays, trips to the bank in bad weather and standing in line to cash a check. And you won’t need to worry about your check being lost or stolen.
Use Retirement Online to Sign Up for Direct Deposit
- Sign in to Retirement Online.
- From Account Homepage, click Update Direct Deposit.
- Follow steps to add your bank account number and routing number.
If you have a joint account holder on your bank account, you’ll need to print and complete the Electronic Funds Transfer Direct Deposit Enrollment Application (RS6370) and have your joint account holder sign the form. It’s best to do this in advance so you can upload the completed form while signing up for direct deposit in Retirement Online. However, you can upload the completed form later.
Other Ways to Sign Up for Direct Deposit
If you don’t have a Retirement Online account, you can complete an Electronic Funds Transfer Direct Deposit Enrollment Application (RS6370) and submit it using our secure contact form or by mail. Please note, using a paper form will take longer for the information to reach us.
Secure Contact Form
- Fill out all required fields on our secure contact form.
- From the Topic dropdown, select Direct Deposit.
- Attach your completed form using the Browse… button.
NYSLRS
110 State St
Albany, NY 12244-0001
If you cancel direct deposit, you will receive a paper check which will be mailed to the address we have on file for you. Checks are mailed on the second-to-last business day of each month.
To cancel direct deposit in Retirement Online:
- Sign in to Retirement Online.
- From Account Homepage, click Update Direct Deposit.
- Follow steps to cancel direct deposit.
If you don’t have a Retirement Online account, you can send us a signed letter with your:
- Name
- NYSLRS ID or retirement number
- Address
Letters can be submitted:
- Using our secure contact form
- By fax: 518-473-5323
- By mail:
NYSLRS
110 State St
Albany, NY 12244-0001
Rev. 1/25