Did You Know? School District Pension Contributions

Are all school district/municipal employees contributing to the pension fund to keep it well funded?

Employees contribute according to their pension system tier and therefore are only obligated to pay for a certain period of time and at a certain contribution level (see yesterday’s “DYK”).  This means, in some cases, more senior employees no longer contribute while newer employees are contributing.

Currently, only Tiers V and VI require contribution for the entire course of a public employee’s career.  That is why many states likes Michigan and Georgia have gone to a defined contribution plan that is not guaranteed by taxpayers but instead is controlled by the employee and an investment advisor.

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About Mike Durant

Mike Durant was named New York State Director of NFIB in May 2011. Prior to joining NFIB as the Assistant State Director in May 2010, Durant began his career in the New York Senate working in the Office of Member Services. From there, he served in a number of positions during former New York Governor George E. Pataki’s administration. As a Research Specialist in the New York State Office of Demographic Policy, Mike was responsible for drafting a redistricting proposal for Governor Pataki. In addition, Mike served as a Research Specialist for the Empire State Development Corporation, as well as the Associate Commissioner of Human Resource Management with the New York Department of Labor. Durant also spent four years working at the Questar III BOCES as a specialist focusing on the complex formulas that drive aid to school districts across the state while also taking a lead role in the state legislative/budget process as it related to education policy. These past positions have given Mike a deep understanding of the complex political economics of the State of New York. Active in the community, Durant has served on a number of boards in both the village of Ballston Spa and Town of Milton. Durant received his bachelor’s degree from Siena College in Loudonville, New York and resides in Ballston Spa with his wife and two children.
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