State Comptroller Thomas P. DiNapoli today announced employer contributions rates for the New York State and Local Retirement System (NYSLRS) for State Fiscal Year (SFY) 2025-26. Employers’ average contribution rates will increase from 15.2% to 16.5% of payroll for the Employees’ Retirement System (ERS) and from 31.2% to 33.7% of payroll for the Police and Fire Retirement System (PFRS).
The New York State Legislature amended the State Finance Law in 2015 by adding a new Section 8-c providing for the establishment of a statewide electronic system to help detect and prevent fraud, waste and abuse in government spending and to help avoid improper payment of public funds.
The New York State Common Retirement Fund (Fund) reached climate-related agreements with five portfolio companies during the 2024 proxy season and added $2 billion to the MSCI World ex-USA Climate Change Index strategy, State Comptroller Thomas P. DiNapoli announced today, along with releasing the fourth annual Climate Action Plan Progress Report.
New York State has seen a surge in hate crimes over the last five years with 1,089 reported instances in 2023, marking the highest number since data collection and annual reporting were mandated by New York’s Hates Crimes Act of 2000. As the number of hate crimes has grown, these crimes are increasingly targeting people rather than property, with most attacks against Jewish, Black and Gay Male New Yorkers.
New York State Comptroller Thomas P. DiNapoli today announced that the estimated value of the New York State Common Retirement Fund (Fund) was $267.7 billion at the end of the first quarter of state fiscal year 2024-25. For the three-month period ending June 30, 2024, Fund investments returned an estimated 1.38%.
New York State Comptroller Thomas P. DiNapoli announced today the following audits have been issued.
The State’s Empire State Development agency (ESD) has not been meeting statutory requirements to provide accurate, annual reports of its real estate holdings, and has sold several for as little as $1 with insufficient information about the economic benefits of the transfer compared to the fair market value of the property, a new audit from State Comptroller Thomas P. DiNapoli found.
As required by Section 196 of the Navigation Law, the Comptroller prepares an annual report to the State Legislature and the Governor. The report includes: a description of the costs and damages paid by and recovered for the Fund; the monies spent pursuant to Section 186 (including amounts spent for oil spill prevention, training activities and equipment purchased), and the economic and environmental impacts on the State.
In June, the Office of the State Comptroller approved 1,909 contracts for state agencies and public authorities valued at $7.3 billion and approved more than 1.8 million payments worth more than $14.1 billion. The office rejected 262 contracts and related transactions valued at $5.5 billion and nearly 3,100 payments valued at more than $7.2 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at Open Book New York.
During the 2024 proxy season, three portfolio companies agreed to publicly disclose their political spending while proposals at three other companies won significant support from shareholders, State Comptroller Thomas P. DiNapoli, trustee of the New York State Common Retirement Fund (Fund), announced today. DiNapoli also announced that he called on 16 companies, including Tesla Inc., Domino’s Pizza Inc., and Garmin Ltd., requesting similar comprehensive disclosure of political spending.
