The NYCERS actuary submitted a proposed resolution at the NYCERS Board Meeting last Thursday, November 9, 2017. It was for the transfer of $252M from NYCERS to the COVSF (Correction Officers Variable Supplements Fund) for FY-2017. The trustees adopted the resolution.
The NYC Financial statement for FY-2017 stated that $285M was transferred from NYCERS to the COVSF as of June 30, 2017.
Why the difference? Maybe the $285M was an accrual number and subsequently the actuary came up with a more accurate number. But we sure would love to see the actuary's final calculation. Even today, $33M is a significant amount of money.
1 comment:
33Mil is Alot of money be to gone missing ?? HMMM Glad they didn't take it. And put it where it belongs. Who is doing the adding up ?
2018 i better my VSF..
Thank you John for your blogs.. and keeping it all transparent.
Post a Comment