- Number of Employees who are Members
Generally, the more members there are on an employer’s payroll, the higher the employer’s annual payment will be. Membership in NYSLRS is falling — from the fiscal year ended March 31, 2009 to the fiscal year ended March 31, 2018, the total number of billable members decreased from 563,075 to 558,192.
- Higher Salaries
Higher salaries often increase an employer’s total bill. Since employer rates are billed as a percentage of salary, the more your employees earn each pay period, the more your contribution to NYSLRS increases.
- Retirement Plans and Options Offered
Employers can choose to offer improved retirement plans or optional benefits (i.e. one-year final average salary for police officers and/or firefighters) to its employees. The greater the benefits offered, the greater the employer’s annual contribution. For example, if an employer chooses to provide a special plan for a specific employee group such as police officers or firefighters, the cost will be greater than a regular plan. A special plan allows for retirement after completing a specific number of years of credited service in specific job titles rather than attaining a certain age.
Description of Growth in Total Salaries (2008–2018) bar graph
This graph shows that, from 2008 through 2018, total salaries rose from $25.7 billion to $30.4 billion. When you compare each system, the results are a bit surprising: while PFRS salaries have continued to trend upward, from $2.9 billion in FYE 2008 to $3.7 billion in FYE 2018; ERS salaries rose from $22.8 billion in FYE 2008 to $25 billion in FYE 2010, then decreased and remained virtually unchanged for five straight fiscal years. However, beginning in FY 2016, salaries began to increase.