New York S 8361: Relates to disability retirement benefits for the presumption of post-traumatic stress disorder for certain titles in NYC

Bill Text

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S08361 Summary:

BILL NOS08361 

&nbsp

SAME ASSAME AS A07428

&nbsp

SPONSORJACKSON

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §13-638.2, NYC Ad Cd

&nbsp

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.

Go to top S08361 Actions:

BILL NOS08361 

&nbsp

06/05/2025REFERRED TO RULES

06/09/2025ORDERED TO THIRD READING CAL.1667

06/10/2025SUBSTITUTED BY A7428

&nbspA07428 AMEND= Pheffer Amato

&nbsp03/26/2025referred to governmental employees

&nbsp04/30/2025reported referred to ways and means

&nbsp05/27/2025reported referred to rules

&nbsp06/04/2025reported 

&nbsp06/04/2025rules report cal.401

&nbsp06/04/2025ordered to third reading rules cal.401

&nbsp06/04/2025passed assembly

&nbsp06/04/2025delivered to senate

&nbsp06/04/2025REFERRED TO RULES

&nbsp06/10/2025SUBSTITUTED FOR S8361

&nbsp06/10/20253RD READING CAL.1667

&nbsp06/10/2025PASSED SENATE

&nbsp06/10/2025RETURNED TO ASSEMBLY

&nbsp06/18/2025delivered to governor

&nbsp06/18/2025signed chap.139

Go to topS08361 Committee&nbspVotes:

Go to topS08361 Floor&nbspVotes:

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

Go to topS08361 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8361

 2025-2026 Regular Sessions

 IN SENATE

 June 5, 2025
 ___________

 Introduced by Sen. JACKSON -- (at request of the NYC Actuary) -- read
 twice and ordered printed, and when printed to be committed to the
 Committee on Rules

 AN ACT to amend the administrative code of the city of New York, in
 relation 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 to members
 of such retirement systems, and the allowance of supplementary inter-
 est on the funds of such retirement systems

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

 1 Section 1. Paragraph 2 of subdivision b of section 13-638.2 of the
 2 administrative code of the city of New York, as amended by chapter 184
 3 of the laws of 2023, is amended to read as follows:
 4 (2) With respect to each retirement system, such rate of interest
 5 shall be as hereinafter set forth in this paragraph:

 6 First day and
 7 last day of
 8 Rate of interest fiscal year or
 9 per centum per series of fiscal
 10 Retirement annum, compounded years for which
 11 System annually rate is effective
 12 ________________________________________________________________________
 13 NYCERS 7% July 1, 2011 to
 14 June 30, [2025] 2029

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11358-01-5

 S. 8361 2

 1 NYCTRS 7% July 1, 2011 to
 2 June 30, [2025] 2029
 3 PPF 7% July 1, 2011 to
 4 June 30, [2025] 2029
 5 FPF 7% July 1, 2011 to
 6 June 30, [2025] 2029
 7 BERS 7% July 1, 2011 to
 8 June 30, [2025] 2029

 9 § 2. Paragraph 2 of subdivision f of section 13-638.2 of the adminis-
 10 trative code of the city of New York, as amended by chapter 184 of the
 11 laws of 2023, is amended to read as follows:
 12 (2) Such special interest shall be allowed at the rates and for the
 13 periods set forth below in this paragraph:

 14 Fi