NY S08644

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

Existing eligible employees not currently in BERS or any other public retirement system must be automatically enrolled by October 1, 2023, unless they file to opt out by September 30, 2023.

Employers and applicable unions must provide written notice to employees on three occasions (30th, 60th, and 90th day) informing them of the automatic enrollment and right to opt out within the 90-day period.

Employees who opt out retain the right to voluntarily join BERS at any time during employment, and employees subject to mandatory enrollment under existing law are not affected by this provision.

Estimated additional annual employer contribution of $12.9 million if no prior service is purchased, or $19.7 million if all eligible prior service is purchased by enrolled employees.