New York A 10174: Authorizes Tina Russo to receive certain service credit with the New York state teachers' retirement system

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A10174 Summary:

BILL NOA10174A

&nbsp

SAME ASSAME AS S09100-A

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SPONSORSlater

&nbsp

COSPNSR

&nbsp

MLTSPNSR

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&nbsp

Authorizes Tina Russo to receive certain service credit with the New York state teachers' retirement system.

Go to top A10174 Actions:

BILL NOA10174A

&nbsp

02/12/2026referred to governmental employees

04/29/2026amend (t) and recommit to governmental employees

04/29/2026print number 10174a

Go to topA10174 Committee&nbspVotes:

Go to topA10174 Floor&nbspVotes:

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

Go to topA10174 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10174--A

 IN ASSEMBLY

 February 12, 2026
 ___________

 Introduced by M. of A. SLATER -- read once and referred to the Committee
 on Governmental Employees -- committee discharged, bill amended,
 ordered reprinted as amended and recommitted to said committee

 AN ACT in relation to authorizing Tina Russo to receive a recalculation
 of her retirement benefit from the New York state teachers' retirement
 system

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

 1 Section 1. Notwithstanding any provision of law to the contrary, Tina
 2 Russo, a member of the New York state teachers' retirement system, who
 3 retired on February 1, 2025, after serving as a teacher for the state of
 4 New York for twenty-nine years and seven months and whose full-time
 5 service credit was calculated incorrectly, through no fault of her own,
 6 shall have her pension with the New York state teachers' retirement
 7 system recalculated without an early retirement reduction, on or before
 8 one year after the effective date of this act, if she shall file a writ-
 9 ten request to that effect with the New York state teachers' retirement
 10 system. Such recalculation of her pension benefit shall be retroactive
 11 to her date of retirement.
 12 § 2. All costs associated with the implementation of this act shall be
 13 borne by the employers of the members of the New York state teachers'
 14 retirement system.
 15 § 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 Bill Description:
 This fiscal note is prepared for legislative bill draft #14501-07-6.
 This bill would allow Tina Russo, a retired Tier 4 member of the New
 York State Teachers' Retirement System, to recalculate her pension with-
 out an early retirement reduction based on 29 years and 7 months of
 service credit. Currently, Tier 4 members who retire with less than
 thirty years of service have an early age reduction applied to their
 benefit amount. This bill would provide Ms. Russo with recalculated
 adjustments to payments made retroactive to her date of retirement of
 February 1, 2025. Ms. Russo must file a written request with the head

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14501-10-6

 A. 10174--A 2

 of the New York State Teachers' Retirement System within one year of the
 effective date of this bill.
 Cost:
 The cost of this benefit is estimated to be $275,000 which is equal to
 the increase in the present value of liabilities. This cost is to be
 borne by the participating employers of the New York State Teachers'
 Retirement System.
 Data:
 Member data as of June 30, 2025, prepared for the most recent actuari-
 al valuation was used in determining this cost. The most recent data
 distributions 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 will also be provided 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 most recent Recommended Actuarial Assumptions 2025
 Report.
 Actuarial Certification:
 We, the undersigned actuaries for the New York State Teachers' Retire-
 ment System, certify the following:
 1. The actuarial assumptions, methods, and data used are reasonable
 for the purposes of thi