New York A 3416: Allows for NYSTRS retirees to change their retirement plan beneficiary to a spouse at any time either prior to or after retirement

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A03416 Summary:

BILL NOA03416 

&nbsp

SAME ASSAME AS S06258

&nbsp

SPONSORConrad

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §539, Ed L

&nbsp

Allows for NYSTRS retirees to change their retirement plan beneficiary to a spouse at any time either prior to or after retirement.

Go to top A03416 Actions:

BILL NOA03416 

&nbsp

01/27/2025referred to governmental employees

01/07/2026referred to governmental employees

Go to topA03416 Committee&nbspVotes:

Go to topA03416 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA03416 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3416

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 27, 2025
 ___________

 Introduced by M. of A. CONRAD -- read once and referred to the Committee
 on Governmental Employees

 AN ACT to amend the education law, in relation to allowing NYSTRS reti-
 rees to change their retirement plan beneficiary to a spouse at any
 time prior to or after retirement

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 6 of section 539 of the education law, as added
 2 by chapter 695 of the laws of 2002, is amended to read as follows:
 3 6. An option selection duly filed by the member with the retirement
 4 system shall become effective upon retirement. Notwithstanding the fore-
 5 going, a member who has been retired for service or with a deferred
 6 retirement allowance may file an option selection or change or with-
 7 drawal of an option selection previously filed no later than thirty days
 8 following the date on which the member has retired, provided, however,
 9 if a member is designating their spouse as a beneficiary, such option
 10 selection or change may be made at any time prior to or after effective
 11 retirement; a member who has been retired for disability may file an
 12 option selection or a change or withdrawal of an option selection previ-
 13 ously filed no later than (i) thirty days following the date on which
 14 such member's application for disability retirement was approved by the
 15 retirement board or (ii) thirty days following the date on which the
 16 member was retired for disability, whichever is later. Provided, howev-
 17 er, if a member who has been retired for disability is designating their
 18 spouse as a beneficiary, such option selection or change may be made at
 19 any time prior to or after the date on which the member was retired for
 20 disability.
 21 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06766-01-5

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