NYSERSNew York State Employees Retirement System
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(16) NYSERS and NYPFRS cover a combined 679,217 active workers and 375,803 pensioners and retirees, equal to just fewer than half of the total of the city and state pensions systems combined.
As of April 1, 2011, the funded ratio of NYSERS was 90.2%, while the funded ratio of NYSPFRS was 91.9%.
For example, the contribution rate for NYSERS employees ranged from 21.5% for those employees in Tier 1, to 12.9% for Tier 5, for a blended average of 16.1%.
(27) Beginning in 2004, average contribution rates at both NYSERS and NYSPFRS increased from below 5.0% to 16.1% and 21.5% in 2012, respectively.