NYS retirees are being economically harmed due to the length of time that it takes to accurately determine their pension benefits. Final pension determinations often take a year or longer for the NYS and Local Retirement System, NYSLRS, to calculate and makes planning difficult for pensioners on a fixed monthly income. The result is often thousands of dollars owed to the retiree that is paid in a lump sum retroactive payment. No interest is being paid to the beneficiary. 
This petition if acted upon would require NYSLRS to calculate final retirement benefits within 120 days from the pensioners retirement date or pay interest at a rate equivalent to the current interest rate that members pay to take a loan against their retirement accounts  

Retirees of NYSLRS dedicated their lives to public service. Proper planning for retirement is crucial for the financial stability of these retired public servants. Planning cannot be done without accurate information to work with.