NYCERS has made temporary operational changes in order to continue serving our members while keeping our staff safe in the midst of the COVID-19 pandemic. This PDF contains FAQs about conducting business with NYCERS during the pandemic, CARES Act, COVID-19 Accidental Benefits and IRS Notice 2020-23.
The tumbling stock market has inevitably taken a toll on the value of the city’s pension funds. That means the city may have to increase its contributions to the funds by tens of million—if not hundreds of millions--of dollars in the coming years. We look at a few scenarios.