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NY A05013
Bill
Status
2/10/2025
Primary Sponsor
Harry Bronson
Click for details
AI Summary
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Directs the Department of Financial Services, in consultation with the Office of Employee Relations and Department of Civil Service, to study creating a compensation system comparable to federal financial regulators
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Requires comparison with federal agencies including the SEC, FDIC, Federal Reserve Bank of New York, Consumer Financial Protection Bureau, and Department of Treasury
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Study must identify state positions with similar roles to federal regulator positions and propose a pay scale to achieve parity
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Report due within one year to the Governor, legislative leaders, and minority leaders in both chambers
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Must evaluate alternatives for achieving pay parity, promoting employee retention, and potential training savings from increased retention
Legislative Description
Directs the department of financial services to conduct a comprehensive study on how the department of financial services may create a compensation system commensurate with the compensation systems of similar federal financial regulators and to issue a report of its findings.
Last Action
referred to governmental employees
1/7/2026