No issue in America today better illustrates the divergent interests of working Americans and the 1 percent than pension reform. Substantial empirical evidence shows that America’s favored retirement vehicle — the 401(k), recently renounced by its own inventors — is grossly inadequate and will leave tens of millions of Americans with insufficient retirement assets. And [...]
With data primarily pulled from NYSTRS' CAFR of the same fiscal year, the PAFR relies heavily on graphics and other visuals to tell the System's financial story. Unlike a CAFR, which can be technical in nature, a PAFR attempts to present the facts in a clear, concise manner.
Employer contributions paid to NYSTRS in 2018 will be lower than 2017 contributions – which will be less than they contributed in 2016. NYSTRS has advised participating employers to budget for an employer contribution rate (ECR) of 9.80% applicable to 2017-18 school year salaries. The figure represents a decrease of approximately 16% from the 11.72% [...]
Public retirement systems continue improving cost efficiency, increasing funding ratios and fine-tuning benefits to strengthen their capacity to serve retired public servants for years to come, according to a sweeping annual study by the National Conference on Public Employee Retirement Systems (NCPERS). The study underscores the many ways in which pension trustees, managers and administrators [...]
Long Islanders want the best and brightest educators for their children, but it is a challenge to recruit and retain teachers without the guarantee of a secure retirement. As a part of a broader exploration into the issue of pension reform, Long Island Business Report examines the impact of pension funding on Long Island's education [...]
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