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NY A10108
Bill
Status
2/2/2026
Primary Sponsor
Phillip Steck
Click for details
AI Summary
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Increases the base benefit amount used to calculate cost-of-living adjustments (COLA) for retirees from $18,000 to $21,000, effective September 1, 2026
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Applies to members of multiple retirement systems including the New York State Teachers' Retirement System, state employees, and New York City employees
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Amends the Retirement and Social Security Law, Education Law, and Administrative Code of the City of New York
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Estimated annual cost to participating employers of the Teachers' Retirement System is $94.7 million, representing 0.46% of payroll
Legislative Description
Provides a cost-of-living adjustment for members of retirement systems by increasing the base benefit amount for computation to $21,000.
Last Action
referred to governmental employees
2/2/2026