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A 7428

New York Assembly bill in Session 2025-2026.

Status: enacted. Latest action: June 18, 2025.

Extends for four fiscal years the current 7% per annum statutory rate of interest used in valuing retirement system liabilities for the purpose of computing the amount of employer contributions.

Bill ID NY-2025-2026-A-7428
Session 2025-2026
Status enacted
Committee Rules
Assembly enacted 2025-06-18
Education Labor / Employment Public Safety Tax / Budget / Appropriations
Summary

Relates to the rate of interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retirement system, the police pension fund, subchapter two, the fire department pension fund, subchapter two and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest and additional interest to members of such retirement systems, and the allowance of supplementary interest on the funds of such retirement systems; extends such provisions until June 30, 2029.

Sponsor
Stacey Pheffer Amato
Official Source Back to Bills
Actions Timeline
Date Event Detail
2025-03-26 Introduced Bill introduced
2025-06-18 Status enacted
2025-06-18 Latest Action Signed by Governor
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