NYSTRS Update

NYSTRS released their Administrative Bulletin 2024-11 to inform districts that the Retirement Board adopted an Employer Contribution Rate (ECR) of 10.11% of payroll. This ECR is applicable to fiscal year 2024-25 NYSTRS member salaries and will be collected in September, October, and November 2025. Based on preliminary results from the June 30, 2024, actuarial valuation, they anticipate the ECR for the next year to be between 9.50% and 10.00% of member payroll. This ECR will apply to fiscal year 2025-26 NYSTRS member salaries and will be collected in the fall of 2026. An Administrative Bulletin will be provided in January 2025 with a more precise ECR. For additional information, please refer to Administrative Bulletin 2024-11, here.