2017 Annual Delegates Meeting

Transcription

1 2017 Annual Delegates Meeting

2 Board Member Congratulations System s Financials Benefits Video Series Benefit Profile Redesign? MyNYSTRS Security Enhancements Online Retirement Application NYSTRS Mobile App 2.3 LEED Certification ESA Infomercial

3 Timothy Southerton Congratulations on your retirement!

4 Jolene DiBrango Congratulations to NYSUT s new Executive Vice President!

5 System funding comes from three sources: Employer Contributions Member Contributions Investment Income

6 Investment Return 12.5% *Net of Fees

7 Rates of Return (6/30/2017)* 1 Year 12.5% 3 Year 6.6% 5 Year 10.2% 10 Year 5.6% 20 Year 7.2% 25 Year 8.7% 30 Year 8.8% * Net of fees

8 June 30, 2016 Valuation $107.5 billion Employer / Member Contributions $1.9 billion June 30, 2017 Valuation $115.5 billion Retiree Payroll $6.9 billion

9 Employer Contributions $21.1 billion Member Contributions $3.0 billion Investment Income $120.4 billion Twenty-Year Period Benefit Payments Paid $94.2 billion MV of Assets 1997: $65.2B MV of Assets 2017: $115.5B

10 Funded Ratios Actuarial Valuation 98% Market Value Valuation 100% * As of June 30, 2017

11 Employer Contribution Rate (ECR) % *11.72% last year

12 10-Year History of the ECR School Year ECR % % % % % School Year ECR % % % % %

13 Actuarial Factors Determine the ECR Salary / Service Net Investment Return New Entrants Withdrawals Mortality Retirements Pension Payments COLA

14 NYSTRS Assumed Long-Term Rate of Return % %

15 October 2017 NYSTRS Board approved an Assumed Long-Term Rate of Return of 7.25%

16 Estimated ECR for School Year 10.5% % of pay

17 We released the first two entries in our new Benefits Video series, available on our website s Library / Videos page at NYSTRS.org

18 We are exploring the possibility of switching to a fourpage version of the Benefit Profile statement next year and provided delegates with a sample statement and a survey to provide their feedback on the redesign. The new version is designed to be more visually appealing and more user-friendly, with clear explanations that help in retirement planning. The redesign is also eco-friendly and would result in savings on printing, assembly, and mailing costs.

19 Password change required annually New password strength meter PIN for new registrants now only by call or text Valid for only 5 minutes Addition of an Identity Verification Phrase Deletion of unused accounts

20 Online Loan Safeguards 5-Day loan processing U.S. mail confirmation letter Keep your address current. Read your mail!

21 Additional MyNYSTRS enhancements are in the works. Additional safeguards are coming in 2018.

22 You can now file your service retirement application online through MyNYSTRS

23 Addition of the Reference Tab Additional items in the Toolkit Optimized PDF s for faster downloads

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26 Leadership in Energy and Environmental Design NYSTRS is pursuing certification under LEED - a rating system devised by the U.S. Green Building Council to evaluate the environmental performance of a building and encourage market transformation towards sustainable design. Over the past few years, as maintenance was needed, we made environmentally friendly upgrades to our facility which use resources more efficiently.

27 LEED Categories Sustainable Sites Water Efficiency Energy and Atmosphere Materials and Resources Indoor Environmental Quality Innovation in Operations

28 Another green-friendly initiative? Districts used to send us reams of paper in monthly loan reporting, quarterly reports, and end-of-year reports. Now, just about everything can be done electronically in our Employer Secure Area (ESA). NYSTRS put together a short infomercial for employers this year highlighting the benefits of ESA usage.