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DiNapoli: Wall Street's 2024 First Half Profits of $23.2B Were 79.3% Higher Than Last Year

… Wall Street’s $23.2 billion in pretax profits for the first half of 2024 were a dramatic 79.3% … by securities trading, underwriting, and selling. Annual profits are currently on track to close out the year much … “After record years during the pandemic, Wall Street’s profits were more in line with pre-pandemic levels in 2022 …

https://www.osc.ny.gov/press/releases/2024/10/dinapoli-wall-streets-2024-first-half-profits-232b-were-793-higher-last-year

DiNapoli: Number of New Yorkers Going Hungry Increases Despite Improving Economy

… 2019 through 2021. Nationally, food insecurity increased for the first time in over a decade to 11.2% during 2020 … Bureau since the start of the pandemic also show general increases in food insufficiency among New York and U.S. … the pandemic, New York families benefitted from temporary increases in Supplemental Nutrition Assistance Program (SNAP) …

https://www.osc.ny.gov/press/releases/2024/05/dinapoli-number-new-yorkers-going-hungry-increases-despite-improving-economy

Other Bulletin No. 48

… OSC’s automatic processing of the April 2019 SCF CSEA 2% Salary Increase and provide instructions for payments not processed automatically Affected Employees … will be available for agency review after the automatic increases have been processed. All reports will be sorted by …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/suny-construction-fund/other-48-april-2019-state-university-construction-fund-scf-civil

Unified Court System Bulletin No. UCS-338

… Pay Mid-Hudson and Senior Officer Series Differential Increases. Affected Employees : Eligible employees in the … F8, G9, SA, SD, SG, SK, SN, SR, SY, S9 and 87) provides for an increase in Location Pay effective April 1, 2024 for … after processing of the automatic increase: NHRP703 Mass Salary Additional Pay Report: This report identifies all …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/unified-court-system/ucs-338-april-2024-state-new-york-unified-court-system-ucs-increases

State Agencies Bulletin No. 682

… employees’ salaries and the processing of necessary salary corrections. Affected Employees Non-Statutory … Section 131.5 and clarifies the computation of salaries for certain employees who move from unallocated or … (excluding normal performance advances and general salary increases); in continuously Active paid status (Active, paid …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/682-implementation-new-method-calculating-salaries-employees-upon-movement

Opinion 2006-5

… the opinion. LOCAL LAWS -- Compensation (mid-term decrease for elected town officers) -- Referendum Requirements (mid-term salary decrease for elected town officers) PUBLIC OFFICERS … for elected officials, analogous to provision for increases in certain salaries (Opn No. 74-221, supra ). 2 …

https://www.osc.ny.gov/legal-opinions/opinion-2006-5

Calculating the Maximum Amount Eligible for Amortization or the Graded Payment – Contribution Stabilization Program

… employer’s invoiced contribution (not including payments for deficiency, previous amortizations, incentive costs or … rate Divides the normal contribution by the billable salary. Determines the employer’s graded rate Multiplies the … graded contribution Multiplies the employer’s billable salary by the employer’s graded rate. Determines the maximum …

https://www.osc.ny.gov/retirement/employers/csp/calculating-maximum-amount-eligible-amortization-or-graded-payment

SUNY Bulletin No. SU-105

… Restoration of Contract Pay After the payroll is audited for Pay Period 11L, OSC will automatically insert a row on … please refer to Payroll Bulletin No. SU-100 for the 2.5% Salary Increase and to Payroll Bulletin No. SU-101 for the 1% … the new contract row on the Contract Pay page. Reporting Retroactive Changes in Pay Basis Code Retroactive Change in …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-university-new-york/su-105-restoration-contract-pay-and-additional-pay-suny-21p

State Agencies Bulletin No. 1395

… of OSC’s automatic processing of the April 2015 CSEA Salary Increase and provide instructions for payments not processed automatically. Affected Employees … will be available for agency review after the automatic increases have been processed. All reports will be sorted by …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1395-april-2015-civil-service-employees-association-csea-salary-increase

SUNY Bulletin No. SU-149

… Purpose To provide instructions to agencies for processing the Lump Sum payments. Affected Employees SUNY … United University Professions (BU 08) regarding general salary and other increases. Effective Date(s) Lump Sum payments may be …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-university-new-york/su-149-january-1-2008-500-lump-sum-payment-certain-part-time

State Agencies Bulletin No. 1068

… payment cycle. Once an employee meets the initial five year continuous service eligibility in April, they will stay … date. Agencies should review the effective date (month and year) and amount of the employee’s last LLS payment, if …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1068-april-2011-civil-service-employees-association-csea-longevity-lump-sum

DiNapoli: Tax Cap Remains at 2% for 2025

… Property tax levy growth will be capped at 2% for 2025 for local governments that operate on a calendar-based fiscal … City) and school districts in 2012, limits annual tax levy increases to the lesser of the rate of inflation or 2% with …

https://www.osc.ny.gov/press/releases/2024/07/dinapoli-tax-cap-remains-2-percent-2025

State Agencies Bulletin No. 1823

… purpose of this bulletin is to provide agency instructions for processing the April 2020 Longevity Payment for Long-Term … Payment for Long-Term Seasonal Employees is included as salary for retirement purposes and must be included in the … Longevity Payment Seasonal and Longevity Adj OT CSEA PEF (if applicable) and the amount paid will appear on the …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1823-april-2020-longevity-payment-long-term-seasonal-employees

State Agencies Bulletin No. 1575

… include wage payments made without regard to an employee's payroll period, but also may include payments made for a payroll period.” “As distinguished from Supplemental Wages, … periodic rate (and not an overtime rate) for the current payroll period or at a predetermined fixed determinable …

https://www.osc.ny.gov/state-agencies/payroll-bulletins/state-agencies/1575-supplemental-wages

Mandatory Membership – Membership and Enrollment

… NYSLRS. Beginning July 27, 1976, membership is mandatory for: Employees who work in full-time, permanent 12-month ERS … to join NYSLRS, their membership date (and tier) will be retroactive to the date the membership became mandatory. … using Retirement Online for all unreported service and salary from the date of membership to the date you first …

https://www.osc.ny.gov/retirement/employers/membership-enrollment/mandatory-membership

Improper Payments for Recipients No Longer Enrolled in Managed Long Term Care Partial Capitation Plans (Follow-Up)

… made in our initial audit report, Improper Payments for Recipients No Longer Enrolled in Managed Long Term Care … recipient who is enrolled in a Plan can be disenrolled retroactive to the effective date the recipient lost … payments within 30 days of being notified of a recipient’s retroactive disenrollment. However, further actions are still …

https://www.osc.ny.gov/state-agencies/audits/2017/10/06/improper-payments-recipients-no-longer-enrolled-managed-long-term-care-partial-capitation

Medicaid Program – Improper Fee-for-Service Payments for Services Covered by Long-Term Care Plans

… Objective The objective of this audit was to determine whether the Department of Health (Department) … care, nursing home care, and durable medical equipment, to people who are chronically ill or disabled. Medicaid pays … Enrollment information is ultimately communicated to eMedNY, the Medicaid claims processing and payment system. …

https://www.osc.ny.gov/state-agencies/audits/2020/01/17/medicaid-program-improper-fee-service-payments-services-covered-long-term-care-plans

Implications for the Future – 2021 Financial Condition Report

… pandemic will heavily influence economic activity for the foreseeable future. Outbreaks of new variants, … of all State tax revenues. The SFY 2021-22 enacted budget increases tax rates for high-income earners that promises to … sufficient to guard against unwanted spending cuts, tax increases or other actions in case of an economic downturn or …

https://www.osc.ny.gov/reports/finance/2021-fcr/implications-future