Subject
ACO (Additional Compensation Option) Percentage Change from 2.85% to 1.85% for Members of the New York City Employees' Retirement System (NYE), in Conjunction with an Amendment to Chapter 96 of the Laws of 1995
Date Issued
March 6, 2002
Purpose
To notify agencies of the rate decrease
Affected Employees
CUNY employees who are members of the New York City Employees' Retirement System (NYE), with the election option ACO (Additional Compensation Option)
Effective Date
Institution checks dated March 7, 2002
OSC Actions
OSC will change the ACO percentage to 1.85% for all employees who currently have the Additional Compensation Option. For future transactions when the ACO option is selected, the rate will populate automatically with 1.85%.
Agency Actions
Notify affected employees of the change.
Questions
Questions regarding this bulletin may be directed to the University Manager of Payroll Systems and Operations at CUNY Central Office.