NY S02690

Requires public corporations to provide written notice to retired officers, employees, and their families 45 days before the governing board authorizes or approves health insurance contracts or amendments for retirees.

Allows notice to be provided either as the full contract text with financial information, or as general terms with a physical location and secure website link where retirees can access the full contract and cost details.

Exempts health insurance contracts negotiated with recognized employee organizations under civil service law from the 45-day notice requirement; notice must be provided when the contract becomes binding.

Authorizes public corporations to contract with non-profit membership corporations and insurance companies to provide health insurance to retired officers and employees and their families, with employer contributions at the corporation's discretion.

Takes effect immediately and applies to all health insurance contracts or plans entered into, renewed, modified, or amended after the bill's effective date.