| Serving New York Educators Since 1921 |
Employers
Section 16: Employer Billing
Introduction | Billing Calendar | Table of Contents
Introduction
Each year an employer contribution rate is calculated by our Research and Valuation Department and adopted by the Retirement Board. Salary information is accumulated through the employer reporting process. The rate is applied to the member's BILLABLE EARNINGS to determine the employer contribution. Billable earnings are any salary useable in a member's pension calculation. In the case of school districts, this employer contribution, the employee's contribution, and any article 18 payment are deducted by the State Education Department from state aid and paid directly to the Retirement System. Employers who do not receive state aid or whose state aid is insufficient to cover amounts due are required to make direct payments to the System on the referenced billing dates.
The estimated bill is produced in August. The final bill and a detailed summary will be mailed by Oct. 15. Questions regarding your annual bill or the contribution summary listing should be directed to our Employer Reporting section at (800) 356-3128, Ext. 2857.
Billings or refunds for school years other than the previous one are mailed on a monthly basis. Payment is made directly to the System. If payment is not received within 30 days, the System is required to charge interest.
Billing Calendar
| July 10 | Due date for your final employer report. Estimated bill is determined by using your final report or, if the report is not received, using a percentage increase based on your previous year's final bill. |
| On or Before Sept. 1 | Estimated bill sent to each employer. |
| Sept. 15 | First installment due: one-third of the estimated employer and employee contributions, including any Article 18 payment. |
| On or Before Oct. 15 | Final bill sent. |
| Oct. 15 | Second installment due: one-third of the estimated employer and employee contributions, including any Article 18 payment. |
| Nov. 15 | Third installment due: balance due of employer and employee contributions, including any Article 18 payments based on your final bill. |
