NY A05885

Authorizes Jonathan Grossman, a Tier I member of the New York City Teachers' Retirement System who retired on September 28, 2010, to have his retirement benefits recalculated to include a lump sum payment for accumulated vacation time that was originally excluded through no fault of his own

Requires Grossman to file an application with the state comptroller within one year of the act's effective date to receive the recalculation, including interest accruing from his retirement date

Assigns all past service costs of implementing the recalculation to the City of New York, with an estimated one-time employer contribution of $360,000 in fiscal year 2027

Would increase Grossman's annual retirement allowance from $103,945 to an estimated $114,964, applied both prospectively and retroactively to his 2010 retirement date

Carries a present value of benefits cost of $325,000 as of June 30, 2025, to be borne entirely by employer contributions