August 2017

Hot Topics

New Legislation

Chapter 48 of the Laws of 2017 amended the graded contribution rate calculation, which is used to determine employer contributions under the Contribution Stabilization Program. This program allows employers to pay a portion of their annual contribution over time. Prior to the amendment, the graded rate was 'one size fits all' and did not account for the impact of Tiers 5 and 6. The new law provides participating employers with their own graded contribution rates based on their tier and plan demographics.

Heads Up

Remember to View Your Estimate

The Annual Employer Estimate application provides you with a secure online estimate of your annual contributions for the current State fiscal year. Your estimate is available in August each year. You can view your estimate until your invoice becomes available in November. When we notify you that your estimate is available, please take a few minutes to review it.

You Should Know

The Post-Retirement Reporting (PRR) program allows school districts and BOCES to comply electronically with the reporting requirements of Retirement & Social Security Law (RSSL) Section 217. The PRR program enables employers to report all public retirees on their payroll online, and to notify the Retirement System when a NYSLRS retiree exceeds the Section 212 earnings limit, which is currently set at $30,000 per calendar year. Please take a few minutes to learn more about the program.
 

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