NYSTRS bill to drop again by E.J. McMahon | | NY Torch

The New York State Teachers' Retirement System (NYSTRS) will reduce its pension contribution rates for a third consecutive year in 2017-18, even though the pension fund's investment returns came in well below its target rate in fiscal 2016.

NYC pension costs shooting up by E.J. McMahon | | NY Torch

Taxpayer-funded pension contributions in New York City will need to increase by a total of $732 million between fiscal years 2018 and 2020 due to the pension funds' paltry investment earnings in the recently concluded 2016 fiscal year, City Comptroller Scott Stringer has just disclosed.

State to end pension borrowing by E.J. McMahon | | NY Torch

Starting next year, New York's state government plans to (finally) stop deferring a portion of its annual required pension payments—but over the next 10 years, it will still have to repay $3.3 billion it owes on pension fund borrowings since fiscal 2011.

Teacher pension calcs get a tweak by E.J. McMahon | | NY Torch

The New York State Teachers' Retirement System (NYSTRS) earned only 5.2 percent on its investments—well short of its assumed rate of 8 percent—during the fiscal year ending last June 30.

But taxpayer contributions to NYSTRS, already due to drop by more than four full percentage points of covered payroll in school year 2015-16, nonetheless are projected by the system actuary to decrease by a little bit more (up to 1.76 percentage points) in 2016-17.

Retirement choice popular so far by E.J. McMahon | | NY Torch

New York’s two-year-old Voluntary Defined Contribution (VDC) retirement plan—the most significant structural reform in Governor Andrew Cuomo’s 2012 Tier 6 pension legislation—is shaping up as a popular alternative among the relatively small number of government employees eligible to sign up for it.

The 580 enrollees in the VDC plan between July 1, 2013 and June 30, 2015 include at least eight of the 29 state Assembly and state Senate members elected during that period, according to the plan managers at the State University of New York (SUNY).

More subpar pension gains likely by E.J. McMahon | | NY Torch

The stock market's recent performance suggests that the New York State Teachers' Retirement System (NYSTRS) had trouble meeting its ambitious 8 percent return target during its most recent fiscal year, which ended a week ago.
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