Housing Finance Agency
State of New York Mortgage Agency
Accuracy of Employee Retirement Reporting (Follow-Up Report)
The Housing Finance Agency (HFA) and the State of New York Mortgage Agency (SONYMA) are public benefit corporations created to support housing and homeownership programs. HFA and SONYMA enroll many of their employees in the New York State Employees’ Retirement System. In audit 2008-S-56, we examined HFA’s and SONYMA’s enrollment practices and found that they complied, for the most part, with State requirements. In addition, HFA and SONYMA are required to report certain information to the Retirement System about the enrolled employees’ earnings and number of days worked. We examined these reporting practices and found that the information reported by HFA and SONYMA was, for the most part, accurate. We recommended that HFA and SONYMA make certain improvements in their enrollment and reporting practices, and when we followed up on our recommendations, we found that they had been implemented.
For a complete copy of Report 2010-F-5 click here.