Professional 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
$79,216,668
$9,506,000
$81,197,085
$9,743,650
$83,227,012
$9,987,241
$85,307,687 $10,236,922
$87,440,379 $10,492,846
$89,626,389 $10,755,167
$91,867,048 $11,024,046
$94,163,725 $11,299,647
$96,517,818 $11,582,138
$98,930,763 $11,871,692
$101,404,032 $12,168,484
$103,939,133 $12,472,696
$106,537,611 $12,784,513
$109,201,052 $13,104,126
$111,931,078 $13,431,729
$114,729,355 $13,767,523
$117,597,589 $14,111,711
$120,537,529 $14,464,503
$123,550,967 $14,826,116
$126,639,741 $15,196,769
$129,805,735 $15,576,688
$133,050,878 $15,966,105
$136,377,150 $16,365,258
$139,786,579 $16,774,389
$143,281,243 $17,193,749
$324,703,709
Normal
Contribution
21.80%
17.90%
15.90%
14.10%
12.20%
12.00%
10.50%
9.90%
9.00%
8.10%
7.90%
7.60%
7.20%
6.50%
6.30%
6.10%
6.00%
6.00%
6.00%
6.00%
6.00%
6.00%
6.00%
6.00%
6.00%
Pension Invoice
$17,269,234
$14,534,278
$13,233,095
$12,028,384
$10,667,726
$10,755,167
$9,646,040
$9,322,209
$8,686,604
$8,013,392
$8,010,919
$7,899,374
$7,670,708
$7,098,068
$7,051,658
$6,998,491
$7,055,855
$7,232,252
$7,413,058
$7,598,384
$7,788,344
$7,983,053
$8,182,629
$8,387,195
$8,596,875
$229,122,990
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
($95,580,719)
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
$79,216,668
$9,506,000
$81,197,085
$9,743,650
$83,227,012
$9,987,241
$85,307,687 $10,236,922
$87,440,379 $12,241,653
$89,626,389 $12,547,694
$91,867,048 $12,861,387
$94,163,725 $13,182,921
$96,517,818 $13,512,494
$98,930,763 $15,828,922
$101,404,032 $16,224,645
$103,939,133 $16,630,261
$106,537,611 $17,046,018
$109,201,052 $17,472,168
$111,931,078 $17,908,972
$114,729,355 $18,356,697
$117,597,589 $18,815,614
$120,537,529 $19,286,005
$123,550,967 $19,768,155
$126,639,741 $20,262,359
$129,805,735 $20,768,918
$133,050,878 $21,288,140
$136,377,150 $21,820,344
$139,786,579 $22,365,853
$143,281,243 $22,924,999
Normal
Contribution Pension Invoice
21.80%
$17,269,234
17.90%
$14,534,278
15.90%
$13,233,095
14.10%
$12,028,384
12.20%
$10,667,726
12.00%
$10,755,167
10.50%
$9,646,040
9.90%
$9,322,209
9.00%
$8,686,604
8.10%
$8,013,392
7.90%
$8,010,919
7.60%
$7,899,374
7.20%
$7,670,708
6.50%
$7,098,068
6.30%
$7,051,658
6.10%
$6,998,491
6.00%
$7,055,855
6.00%
$7,232,252
6.00%
$7,413,058
6.00%
$7,598,384
6.00%
$7,788,344
6.00%
$7,983,053
6.00%
$8,182,629
6.00%
$8,387,195
6.00%
$8,596,875
$410,588,034
$229,122,990
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
($181,465,044)
rate by 2%
e commitment and what are the compound interest rates
ase up to 2%
ase up to 2%