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Lake Placid to host 2022 U.S. Biathlon National Championships
LAKE PLACID, N.Y. — Mt. Van Hoevenberg in Lake Placid has been selected to host the 2022 U.S. Biathlon National Championships. The championships will take place at the revamped facility from March 23-27, 2022, the Olympic Regional Development Authority (ORDA) and U.S. Biathlon announced on June 7. The U.S. Biathlon National Championships were last held […]
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LAKE PLACID, N.Y. — Mt. Van Hoevenberg in Lake Placid has been selected to host the 2022 U.S. Biathlon National Championships.
The championships will take place at the revamped facility from March 23-27, 2022, the Olympic Regional Development Authority (ORDA) and U.S. Biathlon announced on June 7.
The U.S. Biathlon National Championships were last held in Lake Placid in 1996. The national championships will bring together the best junior and senior biathlon athletes in the United States, with more than 100 competitors expected, according to an ORDA news release.
Mt. Van Hoevenberg’s upgrades include a new biathlon stadium featuring a 30-point shooting range with Kuruvinen targets, a high-efficiency snowmaking system with reservoir, an additional 5 kilometers of competition trails certified to international standards, the recently constructed three-story Mountain Pass Lodge, and a competition layout with enhanced spectator viewing and access.
“U.S. Biathlon is thrilled with the new world-class venue at Mt. Van Hoevenberg,” Max Cobb, U.S. Biathlon, CEO & president, said in the release. “We are very excited to award the 2022 National Championships and bring our biathlon community together in Lake Placid. Thank you to everyone who worked so hard on Mt. Van Hoevenberg’s impressive modernizations.”
Several local athletes are expected to be participating in the championship event. “I am so excited that Lake Placid will be hosting the 2022 U.S. Biathlon National Championships — it’s a game changer,” said Maddie Phaneuf, a 2018 Winter Olympics biathlete for the U.S. and an ORDA ambassador. “Being able to have Olympians skiing our venue alongside our local kids is an amazing and unique opportunity.”
The U.S. Biathlon National Championships will be hosted by ORDA, the New York Ski Educational Foundation (NYSEF), and the Adirondack Sports Council, which is the local organizing committee of the World University Winter Games. The Winter Games, which include competitions among 12 winter sports including biathlon, are estimated to be twice the size of the 1980 Winter Olympics. They will be held in the Lake Placid region in January 2023.
VIEWPOINT: Including More Voices in Decisions May Bring Discomfort & Results
When companies struggle, whether because of a bad economy, poor decisions, or other factors, top management’s reaction is often to become tight-lipped about the turbulent situation. Employees are shut out from strategy discussions, and any ideas they might have for fixing the problem go unheard. But in many if not most cases, such secretiveness is the wrong
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When companies struggle, whether because of a bad economy, poor decisions, or other factors, top management’s reaction is often to become tight-lipped about the turbulent situation.
Employees are shut out from strategy discussions, and any ideas they might have for fixing the problem go unheard.
But in many if not most cases, such secretiveness is the wrong approach and can even make things worse.
For organizations with tens of thousands of employees, it might make sense to limit who participates in strategy. But for smaller organizations, where every person contributes to a thriving culture and facilitates effective operations, there’s a lot of value in involving everyone.
As my book title suggests, I call this all-inclusive way of dealing with things “uncomfortable inclusion.” I put this philosophy into action when I came to the Nevada Donor Network in 2012 at a time when the organization was dysfunctional and on the verge of losing its membership in the Organ Procurement and Transplantation Network/United Network for Organ Sharing. That would have shut down the organization for good. Over time, with a few fits and starts along the way, the organization rose from floundering to soaring as a current world leader in the industry.
I acknowledge that uncomfortable inclusion is an approach that can be messy and difficult, but I believe that involving the entire organization in strategy and problem solving can reinforce synergy, cooperation, and unity while cultivating better ideas and innovation. And that’s true whether uncomfortable inclusion is put into action at a failing company, or simply activated at a place where leaders believe their teams and organization could be performing better.
It is critical to include everyone because ultimately the frontline staff knows best what their environment is going to look like tomorrow and likely a few years down the line, and they are best positioned to be innovators. Why wouldn’t we have them as part of the planning process?
Some of the traits needed to embrace this inclusion approach include:
• Transparent. This one may be especially important because Gallup reports that millennials especially say they want leaders who are open and transparent. Uncomfortable inclusion means being transparent to the point of discomfort If it is not uncomfortable, you are not being inclusive enough. When you’re transparent with team members and include them in decision-making, you create a network of stakeholders who participate even in small decisions. When it comes time to make more impactful decisions, a leader can tap into that banked brain trust to make the best decision possible based on feedback from a proven set of deciders.
• Accountable. People within an organization need to be accountable for their actions and to each other. I talk about how we’re serious about our values, and we hold people accountable. It isn’t enough to be technically competent. Each member of our organization, regardless of title, role, or results, must adhere to our values. We maintain our commitment to quality and excellence, and we are supremely, publicly accountable when we fail.
• Committed. Adopting a more inclusive approach requires commitment, possibly a commitment to changing the organization’s very culture. But the goal may be more attainable than it first seems. Achieving success in a seemingly hopeless situation requires hard work and a committed mindset, but it does not require the reinvention of the wheel. It does not even require luck. All it requires is willingness and a mind open to learning and implementing actions that can facilitate transformative success.
Make no mistake, doing this is messy and hard. It might seem unnecessarily difficult, complicated, and yes, uncomfortable. But keep chipping away and remember this: Success is achievable, even from the bleakest and most dysfunctional starting points.
Joe Ferreira (www.joeferreira.com), author of “Uncomfortable Inclusion: How to Build a Culture of High Performance in Life and Work,” is CEO and president of the Nevada Donor Network. Ferreira speaks and consults worldwide about establishing and improving organ donation and transplantation systems he’s helped pioneer in the United States.
VIEWPOINT: 5 Tips to Make Entrepreneurs Resilient When Challenges Threaten their Business
Many entrepreneurs discover that building a business brings difficult challenges, which in turn require resilience to overcome. But simply having the capacity to recover and keep going doesn’t always lead to better results. Resilience in the context of long-term business success also means learning from past difficulties and, as a result, changing direction to the right path.
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Many entrepreneurs discover that building a business brings difficult challenges, which in turn require resilience to overcome.
But simply having the capacity to recover and keep going doesn’t always lead to better results. Resilience in the context of long-term business success also means learning from past difficulties and, as a result, changing direction to the right path.
“Pivot” has become the preferred word among business owners while trying to survive the COVID-19 pandemic. For many companies now, it’s pivot-or-die.
Resilience and the ability to pivot go hand-in-hand. Resilience is the key ingredient of success and the thing that will never let you down. And it is also about looking at different paths and taking one, acknowledging you were wrong, learning how to fix it, and doing so.
Here are five tips to help entrepreneurs be resilient and pivot in these challenging times:
• Hope for the upside, but plan for the downside. In business, it’s easy to let a vision of great things ahead trick you into ignoring the real possibility of failure. Every entrepreneur does it. Every great business has more than one plan. COVID has weeded out those businesses that never planned for the downside.
• Let go when your gut tells you to. Today’s business world moves too fast and leaves too many behind for a struggling entrepreneur to stay stuck in their ineffective ways for long. You have to trust your instincts and learn when to step away, and to find another path. Rather than beat your head against a stone wall, find a way around, over, or under that wall, and continue on the new path of your choosing.
• Give in the deep end — even if you’re not fully ready. I have met many people in business and in life who trust the philosophy that your next move should be the one for which you’re already prepared. I disagree. Pursue your next path regardless of your level of preparation. Be decisive. Be confident in the fact that if you’re smart and focused, you’ll learn faster when you’re in over your head or out of your depth.
• Learn the powers of contingency management. Entrepreneurs sometimes get overwhelmed by adversity because they are too controlling by nature. Empowering people as a regular practice and overseeing a collaborative work culture leads to calm and problem-solving when difficulties surface. Manage the situation, but don’t rule it. Care for your people, but don’t set them up for failure by micromanaging them. Hold them accountable but don’t be a dictator. Being resilient as a company and pivoting the right way can only happen if there is mutual trust and a comfort level between the business owner and his workforce.
• See every closing door as a new one opening. When things aren’t working as they once did, entrepreneurs need a mindset that embraces a challenge and is excited by finding a new way to make things better. I have found that the most important lessons in life are the ones you don’t see coming, and they bring opportunities you hadn’t considered. When a new opportunity presents itself as a better way, take the risk.
Resilience doesn’t just get back up. Resilience finds a way.
James Webb (www.jamesharoldwebb.com) is the author of “Redneck Resilience: A Country Boy’s Journey To Prosperity.” His career in radiology saw him rise from a technologist to becoming a leader in the industry as the entrepreneur of several companies. After over 40 years in the medical field, Webb focused on the fitness sector, owning and overseeing the management of 33 Orangetheory Fitness franchises
VIEWPOINT: The Path to Business Success? Treat Employees as Assets, Not Expenses
Any number of factors can cause businesses to struggle. A lack of working capital. Poor planning. Ineffective management. But one factor that always affects business performance is employee engagement and the degree to which employees feel valued by their company. Your company’s profitability depends on its people — and you want your team to be composed of
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Any number of factors can cause businesses to struggle. A lack of working capital. Poor planning. Ineffective management.
But one factor that always affects business performance is employee engagement and the degree to which employees feel valued by their company.
Your company’s profitability depends on its people — and you want your team to be composed of the brightest and the best. In this labor market, to recruit and retain the best people you must first make your company a desirable and compelling place to work.
That means offering attractive wage and benefit packages, along with a healthy workplace culture that keeps employees engaged and productive.
Instead of seeing employees as an expense, businesses need to view them as assets that help improve the bottom line.
In my work, I have learned that there are four pillars of profitability that are critical to business success, and all four in some way impact employees. Those pillars are:
• Payroll. Employees expect the correct amount of money to arrive in their bank accounts on time and they want their information easily accessible online. That sounds basic, but businesses sometimes fail to make payroll, or they commit errors when deducting for things like taxes and benefits withholdings. Employees’ paychecks are what enables them to meet life’s responsibilities, so payroll errors and omissions are not things that can be tolerated.
• Employee benefits. If businesses don’t offer such benefits as health insurance or a retirement plan, the better employees will look elsewhere. But smaller businesses usually are at a disadvantage when compared to larger competitors. For example, in 2018, about 85 percent of employees at businesses with 100 or more employees were offered a retirement plan. In contrast, just 53 percent of workers at businesses with fewer than 100 employees had such plans, according to a U.S. Department of Labor report. The report said cost and regulatory complexities are factors discouraging small businesses from offering retirement plans.
• Risk management. Many small businesses have a certain level of risk baked into their business models. They may rely on heavy equipment, vehicles, machinery, or other factors that can potentially threaten the safety of the workplace. The question is: How effective is your risk management program? Often small businesses that have a clear exposure to employee injuries do not have any formalized risk management program in place. It’s important to prioritize and clearly communicate this risk-management program so employees know the company views their safety as paramount.
• HR compliance. A myriad of employment laws and regulations have been passed through the years and businesses need to make sure they are in compliance. The workplace is a melting pot of liability for employers. Are your hiring practices lawful? What about your compensation plan: is it discriminatory? What about terminations: do you have all the bases covered? How do you determine when an employee deserves a promotion or a raise? It’s important to have an updated employee handbook that addresses all these issues along with current job descriptions that are compliant. This makes things clearer, for both management and employees, who like to know where they stand.
To truly drive employee performance, you also need to drive employee engagement — the emotional commitment that each individual team member has to their organization and its goals. Healthy employee engagement means people truly care about their work and their company. It’s up to owners and managers to create an environment where everyone is allowed and encouraged to consistently produce their best work.
Bill Lyons, the ForbesBooks author of “We Are HR: The Business Owner’s Definitive Guide to Professional Employer Organizations,” is the CEO of Lyons HR (www.lyonshr.com), one of the largest privately held professional-employer organizations in the country.
OPINION: Time to end national economic-emergency measures
May’s drop in unemployment makes clear the economic emergency is over. As states continue to reopen their economies, it is having the obvious anticipated impact of lowering the unemployment rate. [The U.S. Department of Labor’s May report showed a drop in unemployment from 6.1 percent to 5.8 percent.] The number of people on temporary layoff declined by
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May’s drop in unemployment makes clear the economic emergency is over.
As states continue to reopen their economies, it is having the obvious anticipated impact of lowering the unemployment rate. [The U.S. Department of Labor’s May report showed a drop in unemployment from 6.1 percent to 5.8 percent.] The number of people on temporary layoff declined by 291,000 people in May, accounting for about 60 percent of the drop in the number of people unemployed.
However, the fact that more than a million additional people remain on temporary layoff status when compared to February 2020 — prior to the pandemic — continues to prove that big, blue-state governors’ economic-shutdown policies have been a disaster for American workers. The 10 states with the highest unemployment rates are all run by Democrat governors.
We can anticipate that positive employment numbers will keep growing through the summer as blue states continue to open up. Another positive impact this summer will be the decision by almost half of the states to drop the federal-government-extended unemployment benefit which has discouraged workers in these recovered states from coming off the sidelines and taking a job. Next month’s unemployment report should reflect this important policy shift by increasing labor participation.
It is clear that the economic emergency is over. Congress should take immediate steps to end economic measures that no longer make sense. The job-market challenges that remain are largely due to the actions of state governments governing by fear rather than science. These challenges no longer require a one-size-fits-all, federal-government response. It is time to end national economic-emergency measures.
Rick Manning is president of Americans for Limited Government (ALG). The organization says it is a “non-partisan, nationwide network committed to advancing free-market reforms, private property rights, and core American liberties.” This op-ed is drawn from a news release the ALG issued on June 4.
OPINION: Can the U.S. Sustain the International Order?
We don’t often think that how the United States conducts itself at home has much impact on how we face the world, but it does. You’d be amazed at how closely people in countries all over the globe follow events here and count on the U.S. to lead the way. When it’s messy at home, it’s hard
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We don’t often think that how the United States conducts itself at home has much impact on how we face the world, but it does. You’d be amazed at how closely people in countries all over the globe follow events here and count on the U.S. to lead the way. When it’s messy at home, it’s hard to sustain the strength and readiness to turn our attention outward.
Doing so is especially important right now because what we’ve come to term “the international order” is under stress. It’s not collapsing by any means, but U.S. leadership faces challenges and if we’re divided and unsettled at home, it will be much more difficult to respond appropriately.
What is the international order? It’s essentially the set of structures and values that evolved during the 20th century to resolve disputes, promote commerce and free trade, undergird economic development and investment, further contacts and exchanges between nations and their citizens, and protect human rights. It’s based on mutually negotiated rules and initiatives that, in a well-functioning world, are promoted by institutions such as the United Nations, the International Monetary Fund and World Bank, the World Trade Organization, the World Health Organization, and others.
These days, though, it’s fair to say that there’s no aspect of the order we once took for granted that isn’t at least facing questions. This is in part because now, both China and Russia are asserting their interests and, often, working actively to undermine ours. At the same time, the U.S. role is less prominent than it once was. Our allies, especially after the four years of the Trump administration, are uncertain of our commitment to global leadership given that we questioned longtime alliances, withdrew from institutions, pulled out of international accords, and in general pulled back from the web of alliances and agreements that we had helped shape in earlier years. Understandably, our friends and allies wonder how much they can count on us, and our adversaries are eager to test us.
At the same time, forces beyond the control of any government are reshaping the global picture. Nationalism is stronger, conflicts between countries seem to be ratcheting up, and many societies are struggling with growing diversity, declining tolerance, and a turn toward authoritarianism. On the whole, international power is less concentrated and more widely distributed, which presents challenges to global institutions and makes it more difficult to pursue much-needed reforms within them.
In this situation, it’s crucial that democracies such as the U.S., Europe, Japan, and Canada recognize the importance of the role they play in sustaining and revitalizing the international order. It’s by no means a given that it can endure, but the democracies have an advantage: for many people around the world, the more authoritarian alternatives are not especially appealing.
Even so, the work of strengthening the world order will require a concerted effort that blends both cooperation and firmness. We must strengthen our alliances of course, as well as shore up and broaden arms-control efforts. Countering authoritarianism in all its facets will be an ongoing challenge. And we need constantly to gauge how best to be a benign world power, helping to resolve conflicts and slow to use force — not ruling it out, but relying on it wisely and only when necessary.
Finally, as I suggested at the beginning, our strength on all these fronts will come from making sure that we are strong at home: that our economy is robust, our finances and debt are manageable, our elections are fair and well run, our infrastructure is revitalized, we invest in the future of our businesses through research and development, and we invest in the future of the American people by focusing attention on education and skills development. If we can do all that, then we will have earned the right to lead the world in navigating the challenges facing the international order.
Lee Hamilton, 90, is a senior advisor for the Indiana University (IU) Center on Representative Government, distinguished scholar at IU Hamilton Lugar School of Global and International Studies, and professor of practice at the IU O’Neill School of Public and Environmental Affairs. Hamilton, a Democrat, was a member of the U.S. House of Representatives for 34 years (1965-1999), representing a district in south central Indiana.

NYS pension fund has largest- ever annual investment return
Fund returned 33.55 percent in latest fiscal year, ending March 31 ALBANY, N.Y. — The New York State Common Retirement Fund’s estimated overall investment return was 33.55 percent for the state fiscal year (SFY) that ended March 31. The figure reflects the financial markets’ “dramatic rebound” from the late March, 2020 lows reached during the
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Fund returned 33.55 percent in latest fiscal year, ending March 31
ALBANY, N.Y. — The New York State Common Retirement Fund’s estimated overall investment return was 33.55 percent for the state fiscal year (SFY) that ended March 31.
The figure reflects the financial markets’ “dramatic rebound” from the late March, 2020 lows reached during the COVID-19 pandemic, the office of New York State Comptroller Thomas DiNapoli announced May 26.
The return on investments increased the fund’s value to an estimated $254.8 billion.
“The state pension fund rode the market rebound from the depths of the pandemic and enjoyed the largest one-year investment return in its history,” DiNapoli said. “This outsized return reinforces the fund’s position as one of the strongest in the nation, but it comes with a caution. Markets remain volatile and as unpredictable as ever.”
The fund’s value reflects retirement and death benefits of $13.66 billion paid out during the fiscal year.
Employer-contribution rates are determined by investment results over a multi-year period along with numerous other actuarial assumptions. Those assumptions include wage growth, inflation, age of retirement, and mortality.
Contribution rates are determined based on recommendations from the retirement system’s actuary in September. State and local governments, which consistently pay their contributions “in good times and bad” are “integral to the fund’s strength,” DiNapoli’s office noted.
As of March 31, the fund had 52.82 percent of its assets invested in publicly traded stocks, which produced investment returns exceeding 60 percent in the last fiscal year. The remaining fund assets by allocation are invested in cash, bonds, and mortgages (23.14 percent), private equity (10.57 percent), real estate and real assets (8.24 percent), and credit, absolute-return strategies, and opportunistic alternatives (5.23 percent).
The fund’s long-term expected rate of return is 6.8 percent, according to DiNapoli’s office.
The New York State Common Retirement Fund is the third largest public pension fund in the U.S., per DiNapoli’s office.
The fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than 1 million state and local government employees and retirees and their beneficiaries.
Report: U.S. 401(k) market now worth more than $6 trillion
U.S. 401 (k) plan assets grew by a trillion dollars to more than $6 trillion in the most-recent plan year, according to a May 2021 report from Judy Diamond Associates. The fifth annual 401(k) Plan Benchmark Report “examines almost 600,000 active 401(k) plans, covering more than 88 million eligible workers and $6 trillion in total retirement assets,”
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U.S. 401 (k) plan assets grew by a trillion dollars to more than $6 trillion in the most-recent plan year, according to a May 2021 report from Judy Diamond Associates.
The fifth annual 401(k) Plan Benchmark Report “examines almost 600,000 active 401(k) plans, covering more than 88 million eligible workers and $6 trillion in total retirement assets,” according to a release from the firm. The analysis encompassed 27 industrial groupings, which “were reviewed and segmented by size, from micro plans with 1-10 people to mega plans with 5,000 or more participants.”
Other findings from the report include the following:
• Average account balances grew to $109,823, with average contributions rising about 8 percent
• Actual participation rates remained at 81 percent year over year
• The median Rate of Return (RoR) on investments is “tightly clustered among all industries,” with all 27 sectors studied reporting 20 to 22 percent RoR
“Our goal is to present unbiased, data-supported insights into the 401(k) plans offered by employers in a wide variety of industries,” said study author Eric Ryles, VP of customer solutions at Judy Diamond Associates. “Our findings help plan sponsors determine whether or not they are taking the right steps to deliver positive retirement outcomes for their employees, empowering them to identify and correct deficiencies in their plans.”
The 401(k) Plan Benchmark Report can be accessed for free at: https://www.judydiamond.com/products/401k-benchmark-report/
Judy Diamond Associates is an employee-benefits research firm based in Washington, D.C. The firm provides lead-generation and market-intelligence tools to insurance and financial-services firms.

VIEWPOINT: Record-high public pension-fund return won’t necessarily mean lower pension costs
The cost to taxpayers of New York’s generous (and constitutionally guaranteed) pension benefits for state and local-government employees depends largely on the performance of pension-fund investments. So when Comptroller Thomas DiNapoli announced recently that the state Common Retirement Fund had earned a record return of 33.55 percent last year — nearly five times the assumed rate —
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The cost to taxpayers of New York’s generous (and constitutionally guaranteed) pension benefits for state and local-government employees depends largely on the performance of pension-fund investments. So when Comptroller Thomas DiNapoli announced recently that the state Common Retirement Fund had earned a record return of 33.55 percent last year — nearly five times the assumed rate — it was a clear sign that taxpayers will be saving money in the near future, right?
Well, no — not necessarily. For one thing, as retail investors are regularly warned, past performance is no guarantee of future results. And in the case of the Common Retirement Fund — which underwrites the New York State and Local Retirement System (NYSLRS), to which most state and local employees outside New York City belong — past patterns suggest future results won’t be so hot.
[We have seen a] highly volatile pattern of state pension-fund returns over the past 24 years, starting near the peak of the 1990s bull market, compared to the Common Retirement Fund’s assumed rate of return throughout the period. The Common Retirement Fund’s down-and-up performance over the past two years was the unique product of the pandemic and federal policy responses to it. As measured by the S&P 500, domestic stock prices peaked in mid-February, 2020, then nose-dived by more than 30 percent by the end of March as COVID-19 spread across the world, turning what looked like an above-par gain into a 2.7 percent loss for the Common Retirement Fund in FY 2020. But over the next several months, spurred by Federal Reserve policies that drove market interest rates down near zero while offering bailouts of troubled corporate debts, the markets rebounded sharply, recovering all those losses and then some.
The Common Retirement Fund’s previous record return was set in 1998, when it earned 30.4 percent. It came close to equaling that performance in 2004, when it returned 28.8 percent. But in the five years immediately following those big gains, the fund earned annual average returns of 1.6 percent and 1.1 percent respectively.
The fund’s assumed rate of return was a highly optimistic 8 percent before DiNapoli began a series of prudent reductions — to 7.5 percent in 2010, 7.25 percent in 2015, and 6.8 percent last year. Even at 6.8 percent, the rate of return that the pension fund literally counts on is considerably higher than the yields from low-risk U.S. Treasury or high-quality corporate bonds, which currently range from 2.3 percent to 3.3 percent.
DiNapoli has never been willing to project future employer-pension contributions more than one year into the future, but the governor’s Division of the Budget (DOB) is less shy about doing so. And prior to this year’s record investment return, DOB had been forecasting — in both the executive budget and enacted budget financial plans — that tax-funded employer-contribution rates would rise to their highest levels in more than 50 years.
The enacted financial plan for FY 2021-22 says DOB expects contribution rates to increase because the assumed rate of return has been reduced, and because the pension fund’s actuary has shifted to a new “mortality table” indicating that pension recipients are living longer and thus will cost more. Without offering specifics, DOB also says it forecasts “a lower rate of return compared to the current assumed [6.8 percent] rate of return by NYSLRS.”
Employer-contribution rates most recently had been pegged by the comptroller at 28.3 percent of total salaries for members of the Police and Fire Retirement System (PFRS), and 16.2 percent of salaries for all other types of state and local workers, who belong to the Employee Retirement System (ERS). The DOB was forecasting that those rates would shoot up in three years to nearly 41 percent for PFRS members and 26.4 percent for ERS members. Based on that, DOB also forecast that the state government’s pension contribution alone will rise from $2.26 billion in FY 2022 to $3.55 billion in 2025. Applying the same higher rates to total reported 2020 salaries of all other government employers in the NYSLRS, local-government pension costs would increase during the same period by a total of $2.5 billion.
However, the DOB projection did not assume the 33.55 percent record return announced by DiNapoli shortly after the financial plan was released. This would surely reduce its projected increase in pension costs — but as explained above, not necessarily by all that much. As long as Comptroller DiNapoli sticks with appropriately prudent actuarial assumptions, pension costs over the next few years won’t be going down, and quite possibly will be going up. The only question is by how much.
E.J. McMahon is the founder and a senior fellow at the Empire Center for Public Policy, Inc., an independent, non-partisan, nonprofit think tank based in Albany. Contact him at ejm@empirecenter.org. This article first appeared in the Empire Center’s blog.

Pathfinder Bank names Tryniski VP, credit manager
OSWEGO, N.Y. — Pathfinder Bank has promoted Nick Tryniski to VP, credit manager from credit analyst. That’s according to Ronald Tascarella, executive VP, chief banking officer, who announced the promotion on June 8. “We are happy to recognize Nick with this promotion,” Tascarella said. “With his extensive knowledge of lending, leadership skills and his commitment
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OSWEGO, N.Y. — Pathfinder Bank has promoted Nick Tryniski to VP, credit manager from credit analyst.
That’s according to Ronald Tascarella, executive VP, chief banking officer, who announced the promotion on June 8.
“We are happy to recognize Nick with this promotion,” Tascarella said. “With his extensive knowledge of lending, leadership skills and his commitment to customer service, Nick has proven to be a tremendous asset to the continued growth of Pathfinder Bank’s lending division.”
As credit manager for Pathfinder Bank, Tryniski will manage residential and commercial underwriting for the bank. He also brings to customers his knowledge of lending — and personal experience as a credit analyst and lender — along with his team of analysts and residential underwriters, Pathfinder Bank said.
Prior to joining Pathfinder Bank as a credit analyst in 2016, Tryniski worked at M&T Bank. He earned a degree in finance from Le Moyne College.
Headquartered in Oswego, Pathfinder Bank is a state-chartered commercial bank that is a wholly owned subsidiary of Pathfinder Bancorp, Inc, (NASDAQ: PBHC). The bank has 10 full-service offices located in its primary market areas of Oswego and Onondaga County and one limited purpose office in Oneida County.
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