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DiNapoli Announces Reduction in Employer Contribution Rates for Retirement System

… both of its systems – the Employees’ Retirement System (ERS) and Police and Fire Retirement System (PFRS). The … The estimated average employer contribution rate for ERS will be lowered from 16.2% to 11.6% of payroll. The … There are more than 3,000 participating employers in ERS and PFRS, and more than 300 different retirement plan …

DiNapoli: NYC FY 2025 Budget Balanced With Strong Revenues and Cost Savings

… have helped New York City’s fiscal year (FY) 2024 budget generate a projected year-end surplus of $3.9 billion … year, helping the city balance its FY 2025 executive budget, according to a report released today by State … Thomas P. DiNapoli. Still, DiNapoli cautions that budget gaps are likely to be larger-than-anticipated by the …

State Agencies Bulletin No. 1957

… Purpose The purpose of this bulletin is to provide agencies with instructions for … Employer’s Tax Guide to Fringe Benefits , the first $5,250 of Educational Assistance provided to an employee under an … deposit advice statement. OSC has prepared the attached  letter  explaining the tax rules governing Educational …

State Agencies Bulletin No. 1892

… agencies of the updated IRS (Internal Revenue Service) tax withholding requirements for 2021 and other tax related topics. Affected Employees Employees meeting the … Supplement Wage Withholding. Note: This is provided for informational purposes only. Social Security & Medicare Wage …

State Agencies Bulletin No. 2064

… of this bulletin is to provide agencies with instructions for processing taxable Educational Assistance Benefits for 2022. Affected Employees Employees who receive Employer … Assistance benefits that exceed the $5,250 exclusion limit for calendar year 2022 are affected. Per IRS Publication …

State Agencies Bulletin No. 863

… 2008 provided the home address is in one of the following zip codes designated as NYC: 112XX, 104XX, 110XX, 111XX, … and confirm that the current home address, including zip code, is correct for all employees listed on the report. …

One-Year FAS – Career Plan

… and Longevity payment. All payments must be earned in the 12 months immediately preceding retirement. The … of payments are not considered regular compensation and, in most cases, will not be included in your one-year FAS calculation: Unused sick leave; Unused …

Overview – Career Plan

… calculation of your FAS can include, but is not limited to, the following types of payments. In some cases, certain … amount of overtime and noncompensatory overtime is limited to 15 percent of your salary. …

One-Year FAS – New Career Plan

… higher FAS. (Note: This benefit is generally not available to Tier 6 members.) The one-year FAS includes only the … of a one-year FAS can include, but is not limited to, the following types of payments: Regular salary; … amount of overtime and noncompensatory overtime is limited to 15 percent of your salary. …

Overview – New Career Plan

…   Your pension is based on your years of credited service and your final … average salary (FAS). For Tier 1, 2, 3 and 5 members, FAS is the average of the wages you earned during any 36 … when your earnings were highest. For Tier 6 members, it is the average of your highest 60 consecutive months of …

One-Year FAS – Non-Contributory Plan with Guaranteed Benefits

… higher FAS. (Note: This benefit is generally not available to Tier 6 members.) The one-year FAS includes only the … of a one-year FAS can include, but is not limited to, the following types of payments: Regular salary; … amount of overtime and noncompensatory overtime is limited to 15 percent of your salary. …

Overview – Non-Contributory Plan with Guaranteed Benefits

… salary; Overtime if earned in the period used in the FAS;* Holiday pay; Noncompensatory overtime earned for each year in …

One-Year FAS – Basic Plan with Increased-Take-Home-Pay (ITHP)

… higher FAS. (Note: This benefit is generally not available to Tier 6 members.) The one-year FAS includes only the … of a one-year FAS can include, but is not limited to, the following types of payments: Regular salary; … amount of overtime and noncompensatory overtime is limited to 15 percent of your salary. …

Overview – Basic Plan with Increased-Take-Home-Pay (ITHP)

… retirement. The calculation of your FAS can include, but is not limited to, the following types of payments. In some cases, certain …

One-Year FAS – Police and Fire Plan

Overview – Police and Fire Plan

… retirement. The calculation of your FAS can include, but is not limited to, the following types of payments. In some cases, certain …

See if any of NY's $12.5 Billion in Unclaimed Funds is Yours at Upcoming Statewide Events

… owed some of the state’s $12.5 billion in unclaimed funds at events across the state in February, State Comptroller … Representatives from DiNapoli’s office will be on site at the events listed below to help New Yorkers find out if … owed money. New Yorkers may also check for unclaimed funds at www.osc.state.ny.us or by calling toll free at …

DiNapoli: Approves $4.7 Million DOT Bridge Contract After Integrity Monitor Put in Place

… (DOT) put an independent integrity monitor in place. “After our rejection of this contract in March, DOT … Transportation DOT put an independent integrity monitor in place …

Management and Control of Employee Overtime Costs (Follow-Up)

… Purpose To determine the extent of implementation of the four … overtime reduction goal established in its 2010 budget to the Governors of New York and New Jersey. Finally, the … by the Port Authority requiring its departments not to exceed 15 percent of base salaries was not met. Key …

Williamson Central School District – Non-Payroll Disbursements (2021M-58)

… totaling $201,179 and invoices or receipts for $41,444 on 118 purchase orders. District officials did not seek … take corrective action. Appendix B includes our comment on the District’s response. …