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NY A09273
Bill
Status
11/21/2025
Primary Sponsor
Stacey Pheffer Amato
Click for details
AI Summary
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Increases the pension calculation for Tier 6 public employees from 35% to 40% of final average salary for members with 20 or more years of credited service
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Applies to members of the New York State and Local Employees' Retirement System, Teachers' Retirement System, and Board of Education Retirement System who joined on or after April 1, 2012
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Removes the 25-year service requirement for Tier 5 teachers to qualify for the 2% multiplier, aligning their formula with Tier 4 members at 20 years
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Estimated to increase employer contributions by $152.3 million in the first year for New York City retirement systems alone, growing to $387.4 million by 2050
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Exempts these provisions from Section 25 of the retirement and social security law and takes effect immediately
Legislative Description
Relates to calculating certain pensions; increases pension calculation from thirty-five to forty per centum of final average salary.
Last Action
print number 9273a
2/25/2026