NY Comptroller: Pension Fund Contributions To Remain Flat

ALBANY, N.Y. (AP) — New York's comptroller says state and municipal contribution rates to New York's pension fund for public workers will remain relatively flat next year.

Comptroller Thomas DiNapoli, trustee of the $181 billion fund, says the average rate will drop from 15.5 percent of a worker's salary to 15.3 percent in the fiscal year that starts next April.

For police and firefighters, the rate will rise slightly from 24.3 percent of payroll to 24.4 percent.

The contribution rate has been lowered the past three years.

The rates will apply to salaries paid during the current fiscal year.

Retirement contributions among the 3,040 employers vary depending on salaries, retirement plans and distribution of workers among six retirement tiers.

[STORY BY: THE ASSOCIATED PRESS]