2025-2026 Regular SessionNew York Legislature

A07428

Legislative Summary

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.

Demographic Impact

Overall analysis of equity impact

70% Positive
Medium ConfidenceView detailed demographic breakdown ↓

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Bill History

3/26/2025
referred to governmental employees
Assembly
4/30/2025
reported referred to ways and means
Assembly
5/27/2025
reported referred to rules
Assembly

Roll Call Votes

Assembly Ways And Means Committee: Favorable refer to committee Rules
5/27/2025
30
Yea
2
Nay
0
Not Voting
3
Absent
Result: PASSED
Assembly Governmental Employees Committee: Favorable refer to committee Ways and Means
4/30/2025
14
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED

Status Information

Current Status
Introduced(3/26/2025)
Chamber
Assembly
Committee
Rules(Assembly)

Sponsors

Democrat: 1

Documents

Introduced
Bill Text3/26/20259.2 KB