Contribution Stabilization Program

How to Participate in the Program

Contribution Stabilization Program

To participate in the Contribution Stabilization Program, you must complete and submit a Contribution Stabilization Program Election form. Scan the form and email it as an attachment to our Billing staff, or mail your completed form to:

New York State and Local Retirement System
Employer Services
110 State Street
Albany, NY 12204-0001.

If you decide not to participate this year, do not submit a form. You can elect to participate in the future by completing an election form.

If you are both an Employees’ Retirement System (ERS) and Police and Fire Retirement System (PFRS) employer, you may choose to amortize amounts on either, both or neither invoices. ERS and PFRS invoices are treated separately.

Once you amortize, you cannot withdraw from the program; however, you are not required to amortize every year and you can choose to amortize less than the maximum amount allowed. If you wish to amortize a lesser amount, please contact us as soon as possible after you receive your annual invoice, so we can program our billing system to properly account for your payment schedule. You can prepay amortized amounts without penalty.

 


(Rev. 12/20)