New York K 1405: Recognizing October as National Retirement Security Month

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
K01405 Summary:

BILL NOK01405 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORCruz

&nbsp

COSPNSR

&nbsp

MLTSPNSRButtenschon

&nbsp

&nbsp

Go to top K01405 Actions:

BILL NOK01405 

&nbsp

05/19/2026introduced

05/19/2026adopted

Go to topK01405 Committee&nbspVotes:

Go to topK01405 Floor&nbspVotes:

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

Go to topK01405 Text:

Assembly Resolution No. 1405

BY: M. of A. Cruz

 RECOGNIZING October as National Retirement
 Security Month

 WHEREAS, Retirement financial literacy ensures that individuals are
prepared to plan for long-term financial security, manage retirement
savings, and generate sustainable lifetime income; it also helps them
become responsible workers, heads of households, investors,
entrepreneurs, business leaders, and citizens; and

 WHEREAS, The State of New York has established one of the strongest
retirement systems in the United States; this system includes an
exceptional Defined Benefit Plan, which provides guaranteed lifetime
income for State employees, well-designed optional retirement plans
(Defined Contribution), adequate contributions, access to low-cost
in-plan annuities to provide guaranteed income in retirement, and the
innovative Secure Choice Savings Program that expands retirement access
to previously underserved workers whose employers do not offer
retirement plans; and

 WHEREAS, Despite these outstanding retirement plan structures, many
New Yorkers lack sufficient understanding of the way these State plans
work, the critical importance of adequate savings rates, and the need
for lifetime income for retirement planning; and

 WHEREAS, Ensuring retirement security is critical, as individuals
face longer life expectancies and must plan for financial security over
several decades of retirement; and

 WHEREAS, Increased retirement literacy, particularly regarding
lifetime income and retirement planning strategies, empowers individuals
to make informed long-term decisions and reduces the confusion caused by
the increasingly complex economy; and

 WHEREAS, A recent study, titled "The Common Thread," performed by
the non-profit organization, TIAA Institute, revealed that New York
State's Defined Benefit Plan and Defined Contribution Plan are
adequately funded, providing a means to guaranteed lifetime income and
allowing New Yorkers to retire with dignity; despite the retirement
options provided by New York State, employees would benefit from
additional financial education and advice from qualified financial
experts; and

 WHEREAS, Such guidance provides New Yorkers with greater confidence
in their financial plan and comfortable retirement; now, therefore, be
it

 RESOLVED, That this Legislative Body pause in its deliberations to
recognize October as National Retirement Security Month, emphasizing
retirement planning education and lifetime income literacy; and be it
further

 RESOLVED, That this Legislative Body recognize the importance of
educating New Yorkers about New York State's exceptional Defined Benefit

Plan, optional retirement plan (Defined Contribution), and Secure Choice
Savings Program (Roth IRA) and encourage workers to seek guidance from
qualified plan financial advisors to ensure all workers can maximize
these outstanding benefits and retire with financial security.

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps