Académique Documents
Professionnel Documents
Culture Documents
Normal Contribution
General Employees Only - ERS - Salary Figures Provided by
Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Fiscal Year
2014 -2015
2015 -2016
2016 -2017
2017 -2018
2018 -2019
2019 -2020
2020 -2021
2021 -2022
2022 -2023
2023 -2024
2024 -2025
2025 -2026
2026 -2027
2027 -2028
2028 -2029
2029 -2030
2030 -2031
2031 -2032
2032 -2033
2033 -2034
2034 -2035
2035 -2036
2036 -2037
2037 -2038
2038 -2039
Stable Rate
Pension
Option
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
Salaries
Pension Invoice
$35,454,982
$4,254,598
$36,341,357
$4,360,963
$37,249,890
$4,469,987
$38,181,138
$4,581,737
$39,135,666
$4,696,280
$40,114,058
$4,813,687
$41,116,909
$4,934,029
$42,144,832
$5,057,380
$43,198,453
$5,183,814
$44,278,414
$5,313,410
$45,385,374
$5,446,245
$46,520,009
$5,582,401
$47,683,009
$5,721,961
$48,875,084
$5,865,010
$50,096,961
$6,011,635
$51,349,385
$6,161,926
$52,633,120
$6,315,974
$53,948,948
$6,473,874
$55,297,672
$6,635,721
$56,680,114
$6,801,614
$58,097,116
$6,971,654
$59,549,544
$7,145,945
$61,038,283
$7,324,594
$62,564,240
$7,507,709
$64,128,346
$7,695,402
$145,327,549
Normal
Contribution Pension Invoice
21.80%
$7,729,186
17.90%
$6,505,103
15.90%
$5,922,733
14.10%
$5,383,540
12.20%
$4,774,551
12.00%
$4,813,687
10.50%
$4,317,275
9.90%
$4,172,338
9.00%
$3,887,861
8.10%
$3,586,552
7.90%
$3,585,445
7.60%
$3,535,521
7.20%
$3,433,177
6.50%
$3,176,880
6.30%
$3,156,109
6.10%
$3,132,313
6.00%
$3,157,987
6.00%
$3,236,937
6.00%
$3,317,860
6.00%
$3,400,807
6.00%
$3,485,827
6.00%
$3,572,973
6.00%
$3,662,297
6.00%
$3,753,854
6.00%
$3,847,701
$102,548,513
Assumptions
Stable Rate Option = 12% for 25 years per NYS Budget Office (E
Normal Contribution = NYS Executive Bud and Mgmt Plan Pg 24
Assumes an avg. 2.5% Salary Increase
Does not include adjustment allowed for poor performing pensio
a. first review after 5 years may bump rate 2%
b. second review after 10 years may bump rate by 2%
Unanswered questions - what is the minimum time commitment
($42,779,036)
orming pensions
ate by 2%
e commitment and what are the compound interest rates
Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Fiscal Year
2014 -2015
2015 -2016
2016 -2017
2017 -2018
2018 -2019
2019 -2020
2020 -2021
2021 -2022
2022 -2023
2023 -2024
2024 -2025
2025 -2026
2026 -2027
2027 -2028
2028 -2029
2029 -2030
2030 -2031
2031 -2032
2032 -2033
2033 -2034
2034 -2035
2035 -2036
2036 -2037
2037 -2038
2038 -2039
Stable
Rate
Pension
Option
12.00%
12.00%
12.00%
12.00%
14.00%
14.00%
14.00%
14.00%
14.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
16.00%
Salaries
Pension Invoice
$35,454,982
$4,254,598
$36,341,357
$4,360,963
$37,249,890
$4,469,987
$38,181,138
$4,581,737
$39,135,666 $5,478,993
$40,114,058
$5,615,968
$41,116,909
$5,756,367
$42,144,832
$5,900,276
$43,198,453
$6,047,783
$44,278,414 $7,084,546
$45,385,374
$7,261,660
$46,520,009
$7,443,201
$47,683,009
$7,629,281
$48,875,084
$7,820,013
$50,096,961
$8,015,514
$51,349,385
$8,215,902
$52,633,120
$8,421,299
$53,948,948
$8,631,832
$55,297,672
$8,847,627
$56,680,114
$9,068,818
$58,097,116
$9,295,539
$59,549,544
$9,527,927
$61,038,283
$9,766,125
$62,564,240 $10,010,278
$64,128,346 $10,260,535
$183,766,772
Normal
Contribution Pension Invoice
21.80%
$7,729,186
17.90%
$6,505,103
15.90%
$5,922,733
14.10%
$5,383,540
12.20%
$4,774,551
12.00%
$4,813,687
10.50%
$4,317,275
9.90%
$4,172,338
9.00%
$3,887,861
8.10%
$3,586,552
7.90%
$3,585,445
7.60%
$3,535,521
7.20%
$3,433,177
6.50%
$3,176,880
6.30%
$3,156,109
6.10%
$3,132,313
6.00%
$3,157,987
6.00%
$3,236,937
6.00%
$3,317,860
6.00%
$3,400,807
6.00%
$3,485,827
6.00%
$3,572,973
6.00%
$3,662,297
6.00%
$3,753,854
6.00%
$3,847,701
$102,548,513
Assumptions
Stable Rate Option = 12% for 25 years per NYS Budget Office (E
Normal Contribution = NYS Executive Bud and Mgmt Plan Pg 24
Assumes an avg. 2.5% Salary Increase
Adjustments Included a. first review after 5 years may bump rate 2%
b. second review after 10 years may bump rate by 2%
Unanswered questions - what is the minimum time commitment
181
250
431
($81,218,259)
rate by 2%
e commitment and what are the compound interest rates
ase up to 2%
ase up to 2%