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The buildings are designed to meet or exceed NYSER DA's energy-efficiency standard as well as the LEED for Homes Platinum rating.
42) In 1922, concern about funding levels led the legislature to forbid any city or county from creating additional individual retirement systems and to reorganize all of the State plans that were exempted from the 1920 legislation into the NYSERS.
48) In contrast, the oldest employees in the system today contribute nothing at all and most NYSERS employees contribute only 3% of their salary for their first ten years of work, (49) leading to total employee contributions in 2012 of about $273 million, compared to about $4,585 billion in employer contributions, a ratio of greater than 16:1.
The formula for final average salary remained mostly the same for Tier III and IV members, although a 3% employee contribution was reintroduced for the first ten years of membership in NYSERS beginning with Tier III.
with the discretion to allow local employers in NYSERS and NYSPFRS to amortize contributions to the fund over ten years to the extent their required contribution rates exceed 9.
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.