New York A 11516: Relates to the definition of additional member contributions and basic member contributions for certain retirement system members to allow such contributions to be used as offsets

Bill Text

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A11516 Summary:

BILL NOA11516 

&nbsp

SAME ASSAME AS S08141-A

&nbsp

SPONSORRules (Pheffer Amato)

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §§604-j & 613, R & SS L

&nbsp

Modifies the definition of additional member contributions and basic member contributions for certain New York city employees' retirement system members who are subject to the twenty-five year retirement program for fire protection inspector members under Article 15 of the retirement and social security law, to allow such additional member contributions to be used to offset a deficit of basic member contributions, or to allow an excess of basic member contributions to offset a deficit of additional member contributions.

Go to top A11516 Actions:

BILL NOA11516 

&nbsp

05/28/2026referred to governmental employees

Go to topA11516 Committee&nbspVotes:

Go to topA11516 Floor&nbspVotes:

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

Go to topA11516 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 11516

 IN ASSEMBLY

 May 28, 2026
 ___________

 Introduced by COMMITTEE ON RULES -- (at request of M. of A.
 Pheffer Amato) -- read once and referred to the Committee on Govern-
 mental Employees

 AN ACT to amend the retirement and social security law, in relation to
 the definition of additional member contributions and basic member
 contributions for certain New York city employees' retirement system
 members who are subject to the twenty-five year retirement program for
 fire protection inspector members under Article 15 of the retirement
 and social security law, to allow such additional member contributions
 to be used to offset a deficit of basic member contributions, or to
 allow an excess of basic member contributions to offset a deficit of
 additional member contributions

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

 1 Section 1. Subparagraph (i) of paragraph 10 of subdivision e of
 2 section 604-j of the retirement and social security law, as added by
 3 section 1 of part EE of chapter 55 of the laws of 2024, is amended to
 4 read as follows:
 5 (i) Such additional member contributions (and any interest thereon)
 6 shall be paid into the contingent reserve fund of the retirement system
 7 of which the participant is a member and shall not for any purpose be
 8 deemed to be member contributions or accumulated contributions of a
 9 member under section six hundred thirteen of this article or otherwise
 10 while they are a participant in the twenty-five year retirement program
 11 or otherwise, except that a surplus of such additional member contrib-
 12 utions that are paid into the retirement system's contingent reserve
 13 fund may be used for the sole purpose of offsetting a deficit.
 14 § 2. Subdivision h of section 613 of the retirement and social securi-
 15 ty law, as amended by chapter 448 of the laws of 2018, is amended to
 16 read as follows:
 17 h. Notwithstanding any other provision of law to the contrary, a
 18 participant may use any excess basic member contributions to offset a
 19 deficit of additional member contributions as required pursuant to
 20 sections six hundred four-a, six hundred four-b, six hundred four-c, as

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10363-03-6

 A. 11516 2

 1 added by chapter 96 of the laws of 1995, six hundred four-c, as added by
 2 chapter 472 of the laws of 1995, six hundred four-d, six hundred four-e,
 3 as added by chapter 576 of the laws of 2000, six hundred four-e, as
 4 added by chapter 577 of the laws of 2000, six hundred four-f, as added
 5 by chapter 559 of the laws of 2001, six hundred four-f, as added by
 6 chapter 582 of the laws of 2001, six hundred four-g, [and] six hundred
 7 four-h, and six hundred four-j of this article. The use of basic member
 8 contributions to offset a deficit of additional member contributions
 9 does not affect the contributions' tax designation pursuant to section
 10 414(h) of the Internal Revenue Code.
 11 § 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 SUMMARY: This proposed legislation would amend the contribution
 provisions applicable to th