Employer Costs Continue to Decline

/, State and National Issues/Employer Costs Continue to Decline

Employer Costs Continue to Decline

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% ECR that will be applied to 2016-17 salaries. It will be the third consecutive year that the rate has declined.

When the 2018 rate is officially adopted by the Retirement Board in July, it will mark the first time in seven years the ECR will be in single digits. NYSTRS expects to collect approximately $1 billion less from its more than 820 employers in 2018 than was collected in fall 2015.

Read More at Employer Costs Continue to Decline

2017-11-05T12:06:09+00:00