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At their August 2017 meeting, the New York State Teachers’ Retirement System (NYSTRS) Board formally adopted an Employer Contribution Rate (ECR) of 9.8%, which will be applied to 2017-18 school year salaries.
The 9.8% matches their earlier estimate—“In an effort to assist you with 2017-18 budget preparations, we recommend you use an estimated employer contribution rate (ECR) of 9.8% for 2017-18 payroll,” said NYSTRS in Administrative Bulletin No. 2017-01, which was sent to all school superintendents back in January 2017.
The ECR is determined annually through an actuarial valuation of NYSTRS’ assets and liabilities.
The payments will be made to the NYSTRS through deductions from district state aid payments in September, October and November 2017.
The 9.8% ECR for 2017-18 is a 16.38% drop from the 11.72% ECR for 2016-17.
In November 2017 it is expected that NYSTRS will issue an estimated ECR range for 2018-19.
Download complete document to view a table providing a history of the ECR from 1980-81 to 2017-18.