DiNapoli: Employer Contribution Rates Stable for State Fiscal Year 2019-2020
Employer contribution rates for the state's pension system in State Fiscal Year 2019-20 will be in line with the previous year, with the Employees' Retirement System (ERS) getting a slight decrease and the Police and Fire Retirement System's (PFRS) rate unchanged, New York State Comptroller Thomas P. DiNapoli announced today. DiNapoli also reported the New York State Common Retirement Fund (Fund) grew stronger and ended the last fiscal year with a funded status of 98 percent, according to actuarial calculations.