What Every Employer Should Know
Every August, we provide you with an estimate of your annual contributions for the current State fiscal year (April 1 – March 31). You use the Annual Estimate and Invoice application to view your estimate, which is available until November when we provide your actual invoice.
You are required to pay these contributions by February 1 of the next calendar year. Late payments accrue interest. Beginning with fiscal year 2017 payments, the interest rate was lowered to 7.0 to reflect the September 2015 change in the assumed rate of return.
Although your payment is due February 1, you can choose to pre-pay a discounted amount by December 15. Both the estimate and the invoice always provide you with the discounted amount.
The Annual Estimate and Invoice application not only provides you with an estimate and invoice for your annual contributions, it also provides answers to frequently asked questions, projection factors, payment instructions and information on how billing figures are calculated.
Since your estimate and invoice are available online, we no longer mail hard copies. To learn more about this application, visit our employer online programs page. For other annual contribution questions, contact our Billing Unit at 518-474-4913 or 518-486-3921.