WAMC New York News
(2010-09-02)
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NYS Comptroller Tom DiNapoli at September 2 Press Conference at his office in Albany.
...:::WAMC Photo by Dave Lucas:::...
DiNapoli has accepted the Retirement System actuary's recommendations for the assumptions used in calculating employer contribution rates. DiNapoli also reported the Fund's valuation for the first quarter of the fiscal year. DiNapoli, the sole trustee of the pension fund, said state and local government employers' contributions to the fund will increase from 11.9 percent of salaries in 2011 to 16.3 percent in 2012. The average contribution for the Police and Fire Retirement System is increasing from 18.2 to 21.6 per cent. New York's Pension Fund provides benefits to more than one million retirees, beneficiaries and active employees.
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