New York State increases employer contribution rates

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US - Employer contribution rates for the New York State and Local Retirement System will rise to nearly 19% from next year, comptroller Thomas DiNapoli has announced.

The contribution rate for the Employee Retirement System (ERS) will increase from 16.3% of salaries to 18.9% in fiscal year 2012-13, while the Police and Fire Retirement System (PFRS) will rise from 21.6%...

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