New York A 11109: Changes the due date by which the New York State teachers' retirement system is required to submit the annual MWBE report

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 
A11109 Summary:

BILL NOA11109 

&nbsp

SAME ASSAME AS S08234-A

&nbsp

SPONSORPheffer Amato

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §508-a, Ed L

&nbsp

Changes the due date by which the New York State teachers' retirement system is required to submit the annual MWBE report to on or before December thirty-first following the end of the teachers' retirement system's fiscal year.

Go to top A11109 Actions:

BILL NOA11109 

&nbsp

04/24/2026referred to governmental employees

Go to topA11109 Committee&nbspVotes:

Go to topA11109 Floor&nbspVotes:

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

Go to topA11109 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 11109

 IN ASSEMBLY

 April 24, 2026
 ___________

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

 AN ACT to amend the education law, in relation to changing the due date
 by which the New York State teachers' retirement system is required to
 submit the annual MWBE report

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

 1 Section 1. Paragraph b of subdivision 2 of section 508-a of the educa-
 2 tion law, as added by chapter 171 of the laws of 2010, is amended to
 3 read as follows:
 4 b. [within sixty days of the end of each fiscal year] On or before
 5 December thirty-first after the teachers' retirement system's fiscal
 6 year end, following the effective date of this section, the retirement
 7 board shall report to the governor, legislature and the chief diversity
 8 officer of the state of New York on the participation of MWBE asset
 9 managers, MWBE financial institutions and MWBE professional service
 10 providers in investment and brokerage transactions with or as providers
 11 of services for the teachers' retirement system, including a comparative
 12 analysis of such activity relative to such activity with all asset
 13 managers, financial institutions and professional service providers for
 14 the relevant period and on the progress and success of the efforts
 15 undertaken during such period to achieve the goals of such strategy.
 16 Each report shall be simultaneously published on the website of the
 17 teachers' retirement system for not less than sixty days following its
 18 release to the governor and the other recipients named above;
 19 § 2. This act shall take effect immediately and shall be implemented
 20 with the next submission of the teachers' retirement system retirement
 21 board's MWBE report.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 Bill Description:
 This fiscal note is prepared for System Bill #26-1. This bill would
 amend subdivision 2(b) of section 508-a of the Education Law to change
 the due date for the New York State Teachers' Retirement System's annual

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD13243-03-6

 A. 11109 2

 MWBE report to the December 31st following fiscal year end. Current law
 requires submission within sixty days of fiscal year end.
 Cost:
 There would be no cost to the participating employers of the New York
 State Teachers' Retirement if this bill is enacted. There would be a
 reduction in administrative costs as it would eliminate the need for the
 preparation of both a preliminary draft report with estimated figures
 and a final report later in the year.
 Data:
 Member data as of June 30, 2025, prepared for the most recent actuari-
 al valuation is used in determining costs. The most recent data distrib-
 utions and statistics can be found in the System's Annual Report for the
 fiscal year ended June 30, 2025. System assets are as reported in the
 System's financial statements which can be found, in the System's Annual
 Report. This data can also be found in the System's Actuarial Valuation
 Report as of June 30, 2025.
 Methods and Assumptions:
 A summary of actuarial assumptions and methods will be provided in the
 System's Actuarial Valuation Report as of June 30, 2025. Further details
 can be found in the Recommended Actuarial Assumptions 2025 Report.
 Actuarial Certification:
 We, the undersigned actuaries for the New York State Teachers' Retire-
 ment System, certify the followin