Date:
To:
From:
Subject:
April 29, 2015
Superintendents of Public School Districts
District Superintendents (Information
Only)
Storme Sing-Wai
Public Pension Accrual Pursuant to Chapter 56 of the Laws of 2014
Chapter 56 of the Laws of 2014 provides for an apportionment to school districts for public pension accruals required to be accounted for in the 2004-05 and 2005-06 school years and associated with changes for such public pension liabilities. Upon application, this apportionment is available to the school district as revenue to the 2014-15 school year and may be used to offset any General Fund deficit as of June 30, 2015 resulting from the impact upon school district revenues of these additional pension accruals. The apportionment will be paid in September 2015, and general aid payable during the 2015-16 school year will be reduced in an amount equal to the apportionment in the following order: the lottery apportionment followed by the fixed fall payments, and then followed by the district’s payments to the teachers’ retirement system, and any remainder will be deducted from the individualized payments due the district.
To apply for the apportionment, a school district must complete and submit to the Bureau of State Aided Programs one copy of the Public Pension Accrual Form, “Application and Claim for An Apportionment Pursuant to Chapter 56 of the Laws of 2014” no later than June 30, 2015.
Questions regarding the apportionment or the application and claim procedures may be directed to State Aid Payment Unit at (518) 474-2977.