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NY A05378
Bill
Status
2/13/2025
Primary Sponsor
Stacey Pheffer Amato
Click for details
AI Summary
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Caps total employee contributions for Tier 6 members in the NYCERS Emergency Medical Technician (EMT) 25-Year Retirement Plan at 9.25% of pensionable pay
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Reduces additional member contributions so that combined basic contributions (3%-6%) plus additional contributions (currently 6.25%) do not exceed the 9.25% cap
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Members earning over $45,000 will see contribution rate reductions, with those earning over $100,000 seeing the largest decrease (from 12.25% to 9.25%)
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Increases employer (New York City) contributions starting at $4.2 million in 2026 and rising to $10.5 million by 2050 to offset the reduced employee contributions
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Takes effect on the first of April following enactment
Legislative Description
Places limits on the additional member contributions required of certain EMTs in the twenty-five year retirement program.
Last Action
referred to governmental employees
1/7/2026