NY A09620

Establishes automatic enrollment in the New York City Board of Education Retirement System (BERS) for eligible non-provisional employees beginning July 1, 2023, unless they opt out within 90 days of employment.

Requires existing eligible employees not already in BERS or another public retirement system to be automatically enrolled effective October 1, 2023, unless they opt out by September 30, 2023.

Mandates employers and unions jointly provide written notice to employees on three occasions (days 30, 60, and 90) informing them of the automatic enrollment and their right to opt out.

Applies to full-time and part-time employees but excludes provisional employees and those already mandated to join BERS or other public retirement systems.

Estimated to cost $12.9 million to $19.7 million in additional annual employer contributions depending on whether employees purchase prior service credit, with costs potentially reflected starting in Fiscal Year 2025.