NY A08607

Allows Jonathan Grossman, a Tier I member of the New York City Teachers' Retirement System who retired on September 28, 2010, to apply for recalculation of his retirement benefits to include a lump sum payment for accumulated vacation time.

Grossman must file an application with the state comptroller within one year of the act's effective date to have his retirement benefits recalculated with the lump sum payment plus accrued interest from his retirement date.

All past service costs of implementing this recalculation shall be borne by the City of New York, with an estimated increase in employer contributions of $342,000 in fiscal year 2026.

Grossman's annual retirement allowance is estimated to increase from $103,495 to $114,514, with the increase applying both prospectively and retroactively to his September 28, 2010 retirement date, less any previous payments.