Overview
Your projected invoice is provided in September for budgetary purposes. It approximates next year’s annual invoice, which you will receive in November 2026. If you have the Billing Security Role, we notify you when your projected invoice is available in Retirement Online.
Please do not send payment for your projected invoice. The amounts shown are projections using your employees’ earnings from State Fiscal Year April 1, 2024–March 2025 (SFY 2024-25). Your actual invoice will be calculated using the employee earnings reported to NYSLRS by your organization during State Fiscal Year April 1, 2025–March 31, 2026 (SFY 2025-26).
You will receive your estimated invoice in July 2026 followed by your final annual invoice in November 2026. Payment will be due by February 1, 2027, or you will have the option to pay a discounted prepayment amount by December 15, 2026.
Viewing Your Projected Invoice
- Sign in to Retirement Online.
- From Account Homepage, click Access Billing Dashboard button.
- After choosing location code and retirement system (ERS or PFRS), click Projected Invoice link.
Only employees with the Billing Security Role are able to access the Billing Dashboard. Your Security Administrator assigns this role to contacts who need to view billing information.
Understanding Your Projected Invoice
Estimated Maximum Amount to Amortize
Your projected invoice provides an estimated maximum amount to amortize, regardless of whether you participate in the Contribution Stabilization Program (CSP) or Alternate Contribution Stabilization Program.
For participants of these programs, this does not account for the balance of your Reserve Fund, which would impact the maximum amount to amortize.
For non-participants, you can elect to participate in the CSP. We encourage you to learn how the program works before joining.
When a graded payment is due, the amount you can amortize will be $0.
Projection Factor
The Projection Factor is a multiplier used to calculate your employees’ anticipated earnings based on their retirement system and tier.
| Retirement System and Tier | Projection Factor |
|---|---|
| Employees’ Retirement System (ERS) | |
| Tier 1 | 0.75 |
| Tier 2 | 0.75 |
| Tier 3 | 0.96 |
| Tier 4 | 0.96 |
| Tier 5 | 1.02 |
| Tier 6 | 1.20 |
| Police and Fire Retirement System (PFRS) | |
| Tier 1 | 0.50 |
| Tier 2 | 0.90 |
| Tier 3 | 0.90 |
| Tier 5 | 1.05 |
| Tier 6 | 1.20 |
Projected Salary Base
The Projected Salary Base refers to your employees’ anticipated earnings for the next fiscal year, which is calculated by multiplying their earnings from the last fiscal year by the Projection Factor.
Plan Rate & Option
Plan Rates, often referred to as employer contribution rates, are determined annually to ensure proper funding for the Common Retirement Fund, which pays for your employees’ retirement benefits. Contribution rates are issued by system and are broken down by tier and retirement plan.
- Employer Contribution Rates for ERS Retirement Plans
- Employer Contribution Rates for PFRS Retirement Plans
Options are additional benefits beyond those offered in the standard plans, which you chose to provide to your employees. For example, options 41J and 341J refer to Sections 41(j) and 341(j) of the Retirement and Social Security Law (RSSL), which allow members to receive additional service credit for their unused, unpaid sick leave at retirement.
Regular Pension Contribution
The Regular Pension Contribution refers to the projected amount you will be required to pay and is calculated by multiplying the Projected Salary Base by the Plan Rate and Plan Option.
Group Term Life Insurance (GTLI)
The cost of GTLI, which provides ordinary death benefits for your employees, is listed separate from the Regular Pension Contribution because it is excluded from the calculation of the estimated amount to amortize.
Adjustments and Installments
Adjustments represent charges or credits associated with the current or previous fiscal years.
Installments include amortization payments, past service costs and deficiency contributions.
Divide-by Factor
The Divide-by-Factor refers to a divisor used to calculate the discounted prepayment amount due by December 15, 2026. The divisor is calculated using the current interest rate of 5.9 percent, which is determined by the assumed rate of return on investments.
| Calculation: | Invoice Amount | ÷ | Divide-by-Factor | = | Pre-Payment Amount |
| Example: | $90,616,790 | ÷ | 1.007191 | $89,969,817 | |
| Calculation: | Invoice Amount | - | Pre-Payment Amount | = | Interest Savings |
| Example: | $90,616,790 | - | $89,969,817 | = | $646,973 |
If You Need Help
If you have questions about your projected invoice or for help accessing Retirement Online, use our help desk form (select Employer Billing or Retirement Online Troubleshooting from the dropdown).
You can also call 866-805-0990 (press 1 to access the employer menu, then follow the prompts).
Rev. 9/25