Bureau of Asset Management
Advisor to New York City Pension Funds
The New York City Employees' Retirement System (NYCERS) was established by the New York State Legislature in 1920. Chapter 427 of that year created a retirement system in accordance with sound actuarial principles. The system began operating on October 1, 1920 with 13,331 members. As of June 30, 1998, the date of the Plan's most recent actuarial valuation, the Plan's membership consisted of 165,461 active members, 122,438 retirees and their beneficiaries, and 5,678 vested members who are not yet receiving benefits. The Board of Trustees acts as head of this retirement system.
Membership in NYCERS is available to all New York City employees who are not eligible to participate in the New York City Teacher's Retirement system, the New York City Police Pension Fund, the New York City Fire Department Pension Fund, or the New York City Board of Education Retirement System.
The Plan is a cost-sharing, multiple employer Public Employee Retirement System. In addition to the various departments of the City of New York, members of NYCERS are also employed by the New York City Transit Authority; the Triborough Bridge and Tunnel Authority; the New York City Housing Authority; the New York City Health and Hospitals Corporation; the New York City Off-Track Betting Corporation; the New York City Rehabilitation Mortgage Insurance Corporation; the New York City Housing Development Corporation; the City University of New York; the New York City School Construction Authority; the Municipal Water Authority; and certain employees in Departments of the State of New York which had formerly been New York City departments.
Excerpted from: New York City Employees' Retirement System, Comprehensive Annual Financial Plan, June 30, 1999
New York City Employees' Retirement System
335 Adams Avenue, Brooklyn, NY 11201