Infographic: Income for the New York State Teacher Retirement System
Image credit: Infographic created by journalism students at LIU Post for Long Island Business Report.
Income for the New York State Teacher Retirement System (NYSTRS) is comprised of three sources: investment income, member contributions, and employer contributions. The Employer Contribution Rate (ECR) is the rate at which school districts make contributions out of their budgets to NYSTRS on behalf of members. In New York, teacher employer contribution requirements have risen from nearly half a percent in 2000-01 (.43%) to over 16 percent in 2013-14.
“Obviously the impact has been pretty significant,” said Henry Grishman, Superintendent of the Jericho Public School District.
To learn more about the impact of the New York State pension system for Long Island’s schools, tune in to Long Island Business Report.
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