Now it’s official — pension costs for the state’s 700+ schools in the state will increase significantly in the 2014-15 school year, from 11.84% of payroll to 16.25% payroll. We wrote about this late last year.
This increase is yet another rising expense that our schools will have to meet, in addition to new costs related to tougher testing requirements for students and teachers.
Yet again, we call on New York’s elected officials to stop this trend by passing meaningful mandate relief. It is time to Let New York Work.