NY A07156

Requires automatic enrollment of non-provisional New York City Board of Education Retirement System (BERS) eligible employees into BERS membership beginning July 1, 2024, unless they opt out within the required timeframe.

New employees must be enrolled 91 days after employment begins unless they file an opt-out application within 90 days of hire.

Current eligible employees not already in BERS or another public retirement system must be enrolled by October 1, 2024, unless they opt out before that date.

Employees and unions must receive written notice of automatic enrollment on three occasions: 30, 60, and 90 days before enrollment; employees who opt out retain the right to join BERS later during their employment.

Estimated additional annual employer contribution of $17.4 million to $22.6 million depending on whether employees purchase prior years of service credit.