Establishes an optional twenty-five year retirement plan for certain public safety dispatchers, public safety telecommunicators, 911 operators, communications officers, police communication technicians, emergency services operators and emergency services dispatchers employed by the state, or a county or municipal emergency services department.
STATE OF NEW YORK
________________________________________________________________________
9162
2025-2026 Regular Sessions
IN ASSEMBLY
October 17, 2025
___________
Introduced by M. of A. PHEFFER AMATO -- read once and referred to the
Committee on Governmental Employees
AN ACT to amend the retirement and social security law, in relation to
the retirement of state, county and municipal 911 operators and
dispatchers
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The retirement and social security law is amended by adding
2 a new section 89-z to read as follows:
3 § 89-z. Optional twenty-five year retirement plan for certain public
4 safety dispatchers, public safety telecommunicators, 911 operators,
5 communications officers, police communication technicians, emergency
6 services operators and emergency services dispatchers employed by the
7 state, or a county or municipal emergency services department. a. A
8 member employed by the state, a county or a municipality shall be eligi-
9 ble to retire pursuant to the provisions of this section if such
10 member's employer elects to make the benefits authorized by this section
11 available as provided in subdivision j of this section, and if such
12 member is a public safety dispatcher, public safety telecommunicator,
13 911 operator, communications officers, or any similar title that is
14 responsible for receiving and managing emergency calls, and dispatching
15 appropriate emergency services, including but not limited to, law
16 enforcement, fire, and medical assistance employed by the state, or a
17 county or municipality. Such eligibility shall be an alternative to the
18 eligibility provisions available under any other plan of this article to
19 which such member is subject. The comptroller shall have the authority
20 to include positions within the provisions of this section that compre-
21 hend the same duties and responsibilities, but are named differently.
22 b. Such member shall be entitled to retire upon the completion of
23 twenty-five years of total creditable service by filing an application
24 therefor in the manner provided for in section seventy of this article.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09821-06-5
A. 9162 2
1 c. Upon completion of twenty-five years of such service and upon
2 retirement, each such member shall receive a pension which, together
3 with an annuity which shall be the actuarial equivalent of such member's
4 accumulated contributions at the time of such member's retirement and an
5 additional pension which is the actuarial equivalent of the reserved-
6 for-increased-take-home-pay to which such member may then be entitled
7 shall be sufficient to provide such member with a retirement allowance
8 equal to one-half of such member's final average salary.
9 d. As used in this section, "creditable service" shall include any and
10 all services performed as a public safety dispatcher, public safety
11 telecommunicator, 911 operator, communications officers, police communi-
12 cation technician, emergency services operator, emergency services
13 dispatcher, or any similar title, employed by the state, or a county or
14 municipal emergency services department who is responsible for receiving
15 and managing emergency calls, and dispatching appropriate emergency
16 services, including but not limited to, law enforcement, fire, and
17 medical assistance.
18 e. Credit for service as a member or officer of the state police or as
19 a paid firefighter, police officer or officer of any organized fire
20 department or police force or department of any county, city, village,
21 town, fire district or police district, or as a criminal investigator in
22 the office of a district attorney, shall also be deemed to be creditable
23 service and shall be included in computing years of total service for
24 retirement pursuant to this section.
25 f. The officer of the state, or chief executive officer of a county or
26 municipality that makes the election provided for in subdivision j of
27 this section shall certify to the comptroller, periodically and at such
28 intervals of time as may be required of them and in such fashion as may
29 be prescribed, the identity of members in eligible titles as defined in
30 subdivisions a and d of this section.
31 g. A member contributing on the basis of this section at the time of
32 retirement may retire after the completion of twenty-five years of total
33 creditable service. Application therefor may be filed in a manner simi-
34 lar to that provided in section seventy of this article. Upon completion
35 of twenty-five years of such service and upon retirement, each such
36 member shall receive a pension which, together with an annuity which
37 shall be the actuarial equivalent of such member's accumulated contrib-
38 utions at the time of such member's retirement and an additional pension
39 which is the actuarial equivalent of the reserved-for-increased-take-
40 home-pay to which such member may be entitled shall be sufficient to
41 provide such member with a retirement allowance equal to one-half of
42 such member's final average salary. For service beyond twenty-five
43 years, the benefit shall be increased by one-sixtieth of final average
44 salary for each year of additional service credit provided, however, the
45 total allowance payable pursuant to this section shall not exceed three-
46 fourths of such member's final average salary.
47 h. In computing the twenty-five years of total service of a member
48 pursuant to this section, full credit shall be given and full allowance
49 shall be made for service of such member in time of war after World War
50 I as defined in section two of this chapter, provided such member at the
51 time of such member's entrance into the armed forces was in the service
52 of the county of such member's employer that makes the election provided
53 for in this section.
54 i. Nothing in this section shall be construed to prevent a member, who
55 does not retire pursuant to the provisions of this section, from utiliz-
56 ing service which is creditable service pursuant to the provisions of
A. 9162 3
1 this section for service credit pursuant to the provisions of any other
2 plan of this article to which such member is subject.
3 j. (1) Each employer that elects pursuant to the provisions of this
4 subdivision shall pay the cost attributable therefor.
5 (2) The benefits of this section shall be available only to those
6 members as defined in subdivisions a and d of this section whose employ-
7 er elects to provide such benefits by adopting a resolution to such
8 effect and filing a certified copy thereof with the comptroller. Such
9 resolution may also contain an election that any past services cost be
10 paid over either a five-year or ten-year period. Such resolution shall
11 be accompanied by the affidavit of the officer of the state making an
12 election pursuant to this subdivision or the chief executive officer of
13 the county or municipality that the state, county or municipality has
14 received an estimate from the retirement system of the cost of the bene-
15 fit provided by this section.
16 (3) Such resolution shall apply to all members defined in subdivisions
17 a and d of this section, except those already subject to a retirement
18 plan which permits immediate retirement with a benefit upon a specified
19 period of service of twenty-five years or less without regard to age.
20 k. The provisions of this section shall be controlling notwithstanding
21 any other provisions in this article to the contrary.
22 § 2. Subdivision a of section 445 of the retirement and social securi-
23 ty law, as amended by chapter 714 of the laws of 2023, is amended to
24 read as follows:
25 a. No member of a retirement system who is subject to the provisions
26 of this article shall retire without regard to age, exclusive of retire-
27 ment for disability, unless [he or she] such member is a police officer,
28 an investigator member of the New York city employees' retirement
29 system, firefighter, correction officer, a qualifying member as defined
30 in section eighty-nine-t, as added by chapter six hundred fifty-seven of
31 the laws of nineteen hundred ninety-eight, of this chapter, sanitation
32 worker, a special officer (including persons employed by the city of New
33 York in the title urban park ranger or associate urban park ranger),
34 school safety agent, campus peace officer or a taxi and limousine
35 commission inspector member of the New York city employees' retirement
36 system or the New York city board of education retirement system, a
37 dispatcher member of the New York city employees' retirement system, a
38 police communications member of the New York city employees' retirement
39 system, an EMT member of the New York city employees' retirement system,
40 a deputy sheriff member of the New York city employees' retirement
41 system, a correction officer of the Westchester county correction
42 department as defined in section eighty-nine-e of this chapter or
43 employed in Suffolk county as a peace officer, as defined in section
44 eighty-nine-s, as added by chapter five hundred eighty-eight of the laws
45 of nineteen hundred ninety-seven, of this chapter, employed in Suffolk
46 county as a correction officer, as defined in section eighty-nine-f of
47 this chapter, or employed in Nassau county as a correction officer,
48 uniformed correction division personnel, sheriff, undersheriff or deputy
49 sheriff, as defined in section eighty-nine-g of this chapter, or
50 employed in Nassau county as an ambulance medical technician, an ambu-
51 lance medical technician/supervisor or a member who performs ambulance
52 medical technician related services, or a police medic, police medic
53 supervisor or a member who performs police medic related services, as
54 defined in section eighty-nine-s, as amended by chapter five hundred
55 seventy-eight of the laws of nineteen hundred ninety-eight, of this
56 chapter, or employed in Nassau county as a peace officer, as defined in
A. 9162 4
1 section eighty-nine-s, as added by chapter five hundred ninety-five of
2 the laws of nineteen hundred ninety-seven, of this chapter, or employed
3 in Albany county as a sheriff, undersheriff, deputy sheriff, correction
4 officer or identification officer, as defined in section eighty-nine-h
5 of this chapter or is employed in St. Lawrence county as a sheriff,
6 undersheriff, deputy sheriff or correction officer, as defined in
7 section eighty-nine-i of this chapter or is employed in Orleans county
8 as a sheriff, undersheriff, deputy sheriff or correction officer, as
9 defined in section eighty-nine-l of this chapter or is employed in
10 Jefferson county as a sheriff, undersheriff, deputy sheriff or
11 correction officer, as defined in section eighty-nine-j of this chapter
12 or is employed in Onondaga county as a deputy sheriff-jail division
13 competitively appointed or as a correction officer, as defined in
14 section eighty-nine-k of this chapter or is employed in a county which
15 makes an election under subdivision j of section eighty-nine-p of this
16 chapter as a sheriff, undersheriff, deputy sheriff or correction officer
17 as defined in such section eighty-nine-p or is employed in Broome County
18 as a sheriff, undersheriff, deputy sheriff or correction officer, as
19 defined in section eighty-nine-m of this chapter or is a Monroe county
20 deputy sheriff-court security, or deputy sheriff-jailor as defined in
21 section eighty-nine-n, as added by chapter five hundred ninety-seven of
22 the laws of nineteen hundred ninety-one, of this chapter or is employed
23 in Greene county as a sheriff, undersheriff, deputy sheriff or
24 correction officer, as defined in section eighty-nine-o of this chapter
25 or is a traffic officer with the town of Elmira as defined in section
26 eighty-nine-q of this chapter or is employed by Suffolk county as a park
27 police officer, as defined in section eighty-nine-r of this chapter or
28 is a peace officer employed by a county probation department as defined
29 in section eighty-nine-t, as added by chapter six hundred three of the
30 laws of nineteen hundred ninety-eight, of this chapter or is employed in
31 Rockland county as a deputy sheriff-civil as defined in section eighty-
32 nine-v of this chapter as added by chapter four hundred forty-one of the
33 laws of two thousand one, or is employed in Rockland county as a superi-
34 or correction officer as defined in section eighty-nine-v of this chap-
35 ter as added by chapter five hundred fifty-six of the laws of two thou-
36 sand one or is a paramedic employed by the police department in the town
37 of Tonawanda and retires under the provisions of section eighty-nine-v
38 of this chapter, as added by chapter four hundred seventy-two of the
39 laws of two thousand one, or is a county fire marshal, supervising fire
40 marshal, fire marshal, assistant fire marshal, assistant chief fire
41 marshal, chief fire marshal, division supervising fire marshal or fire
42 marshal trainee employed by the county of Nassau as defined in section
43 eighty-nine-w of this chapter or is employed in Monroe county as a depu-
44 ty sheriff-civil as defined in section eighty-nine-x of this chapter,
45 employed as an emergency medical technician, critical care technician,
46 advanced emergency medical technician, paramedic or supervisor of such
47 titles in a participating Suffolk county fire district as defined in
48 section eighty-nine-ss of this chapter, or is employed as a public safe-
49 ty dispatcher, public safety telecommunicator, 911 operator, communi-
50 cations officers, police communication technician, emergency services
51 operator, emergency services dispatcher, or any similar title, employed
52 by the state, or a county or municipal emergency services department who
53 is responsible for receiving and managing emergency calls, and dispatch-
54 ing appropriate emergency services, including but not limited to, law
55 enforcement, fire, and medical assistance as defined in section eighty-
56 nine-z of this chapter, and is in a plan which permits immediate retire-
A. 9162 5
1 ment upon completion of a specified period of service without regard to
2 age. Except as provided in subdivision c of section four hundred
3 forty-five-a of this article, subdivision c of section four hundred
4 forty-five-b of this article, subdivision c of section four hundred
5 forty-five-c of this article, subdivision c of section four hundred
6 forty-five-d of this article, subdivision c of section four hundred
7 forty-five-e of this article, subdivision c of section four hundred
8 forty-five-f of this article and subdivision c of section four hundred
9 forty-five-h of this article, a member in such a plan and such an occu-
10 pation, other than a police officer or investigator member of the New
11 York city employees' retirement system or a firefighter, shall not be
12 permitted to retire prior to the completion of twenty-five years of
13 credited service; provided, however, if such a member in such an occupa-
14 tion is in a plan which permits retirement upon completion of twenty
15 years of service regardless of age, [he or she] such member may retire
16 upon completion of twenty years of credited service and prior to the
17 completion of twenty-five years of service, but in such event the bene-
18 fit provided from funds other than those based on such a member's own
19 contributions shall not exceed two per centum of final average salary
20 per each year of credited service.
21 § 3. Subdivision a of section 445 of the retirement and social securi-
22 ty law, as amended by section 2 of part TT of chapter 55 of the laws of
23 2025, is amended to read as follows:
24 a. No member of a retirement system who is subject to the provisions
25 of this article shall retire without regard to age, exclusive of retire-
26 ment for disability, unless they are a police officer, an investigator
27 member of the New York city employees' retirement system, firefighter,
28 correction officer, a qualifying member as defined in section eighty-
29 nine-t, as added by chapter six hundred fifty-seven of the laws of nine-
30 teen hundred ninety-eight, of this chapter, sanitation worker, a special
31 officer (including persons employed by the city of New York in the title
32 urban park ranger or associate urban park ranger), school safety agent,
33 campus peace officer or a taxi and limousine commission inspector member
34 of the New York city employees' retirement system or the New York city
35 board of education retirement system, a dispatcher member of the New
36 York city employees' retirement system, a police communications member
37 of the New York city employees' retirement system, an EMT member of the
38 New York city employees' retirement system, a deputy sheriff member of
39 the New York city employees' retirement system, a correction officer of
40 the Westchester county correction department as defined in section
41 eighty-nine-e of this chapter or employed in Suffolk county as a peace
42 officer, as defined in section eighty-nine-s, as added by chapter five
43 hundred eighty-eight of the laws of nineteen hundred ninety-seven, of
44 this chapter, employed in Suffolk county as a correction officer, as
45 defined in section eighty-nine-f of this chapter, or employed in Nassau
46 county as a correction officer, uniformed correction division personnel,
47 sheriff, undersheriff or deputy sheriff, as defined in section eighty-
48 nine-g of this chapter, or employed in Nassau county as an ambulance
49 medical technician, an ambulance medical technician/supervisor or a
50 member who performs ambulance medical technician related services, or a
51 police medic, police medic supervisor or a member who performs police
52 medic related services, as defined in section eighty-nine-s, as amended
53 by chapter five hundred seventy-eight of the laws of nineteen hundred
54 ninety-eight, of this chapter, or employed in Nassau county as a peace
55 officer, as defined in section eighty-nine-s, as added by chapter five
56 hundred ninety-five of the laws of nineteen hundred ninety-seven, of
A. 9162 6
1 this chapter, or employed in Albany county as a sheriff, undersheriff,
2 deputy sheriff, correction officer or identification officer, as defined
3 in section eighty-nine-h of this chapter or is employed in St. Lawrence
4 county as a sheriff, undersheriff, deputy sheriff or correction officer,
5 as defined in section eighty-nine-i of this chapter or is employed in
6 Orleans county as a sheriff, undersheriff, deputy sheriff or correction
7 officer, as defined in section eighty-nine-l of this chapter or is
8 employed in Jefferson county as a sheriff, undersheriff, deputy sheriff
9 or correction officer, as defined in section eighty-nine-j of this chap-
10 ter or is employed in Onondaga county as a deputy sheriff-jail division
11 competitively appointed or as a correction officer, as defined in
12 section eighty-nine-k of this chapter or is employed in a county which
13 makes an election under subdivision j of section eighty-nine-p of this
14 chapter as a sheriff, undersheriff, deputy sheriff or correction officer
15 as defined in such section eighty-nine-p or is employed in Broome County
16 as a sheriff, undersheriff, deputy sheriff or correction officer, as
17 defined in section eighty-nine-m of this chapter or is a Monroe county
18 deputy sheriff-court security, or deputy sheriff-jailor as defined in
19 section eighty-nine-n, as added by chapter five hundred ninety-seven of
20 the laws of nineteen hundred ninety-one, of this chapter or is employed
21 in Greene county as a sheriff, undersheriff, deputy sheriff or
22 correction officer, as defined in section eighty-nine-o of this chapter
23 or is a traffic officer with the town of Elmira as defined in section
24 eighty-nine-q of this chapter or is employed by Suffolk county as a park
25 police officer, as defined in section eighty-nine-r of this chapter or
26 is a peace officer employed by a county probation department as defined
27 in section eighty-nine-t, as added by chapter six hundred three of the
28 laws of nineteen hundred ninety-eight, of this chapter or is employed in
29 Rockland county as a deputy sheriff-civil as defined in section eighty-
30 nine-v of this chapter as added by chapter four hundred forty-one of the
31 laws of two thousand one, or is employed in Rockland county as a superi-
32 or correction officer as defined in section eighty-nine-v of this chap-
33 ter as added by chapter five hundred fifty-six of the laws of two thou-
34 sand one or is a paramedic employed by the police department in the town
35 of Tonawanda and retires under the provisions of section eighty-nine-v
36 of this chapter, as added by chapter four hundred seventy-two of the
37 laws of two thousand one, or is a county fire marshal, supervising fire
38 marshal, fire marshal, assistant fire marshal, assistant chief fire
39 marshal, chief fire marshal, division supervising fire marshal or fire
40 marshal trainee employed by the county of Nassau as defined in section
41 eighty-nine-w of this chapter or is employed in Monroe county as a depu-
42 ty sheriff-civil as defined in section eighty-nine-x of this chapter,
43 employed as an emergency medical technician, critical care technician,
44 advanced emergency medical technician, paramedic or supervisor of such
45 titles in a participating Suffolk county fire district as defined in
46 section eighty-nine-ss of this chapter, or is a firefighter apprentice,
47 airport firefighter I, airport firefighter II, airport firefighter III,
48 or training and safety officer employed by the division of military and
49 naval affairs as defined in section eighty-nine-y of this chapter, or is
50 employed as a public safety dispatcher, public safety telecommunicator,
51 911 operator, communications officers, police communication technician,
52 emergency services operator, emergency services dispatcher, or any simi-
53 lar title, employed by the state, or a county or municipal emergency
54 services department who is responsible for receiving and managing emer-
55 gency calls, and dispatching appropriate emergency services, including
56 but not limited to, law enforcement, fire, and medical assistance as
A. 9162 7
1 defined in section eighty-nine-z of this chapter, and is in a plan which
2 permits immediate retirement upon completion of a specified period of
3 service without regard to age. Except as provided in subdivision c of
4 section four hundred forty-five-a of this article, subdivision c of
5 section four hundred forty-five-b of this article, subdivision c of
6 section four hundred forty-five-c of this article, subdivision c of
7 section four hundred forty-five-d of this article, subdivision c of
8 section four hundred forty-five-e of this article, subdivision c of
9 section four hundred forty-five-f of this article and subdivision c of
10 section four hundred forty-five-h of this article, a member in such a
11 plan and such an occupation, other than a police officer or investigator
12 member of the New York city employees' retirement system or a firefight-
13 er, shall not be permitted to retire prior to the completion of twenty-
14 five years of credited service; provided, however, if such a member in
15 such an occupation is in a plan which permits retirement upon completion
16 of twenty years of service regardless of age, they may retire upon
17 completion of twenty years of credited service and prior to the
18 completion of twenty-five years of service, but in such event the bene-
19 fit provided from funds other than those based on such a member's own
20 contributions shall not exceed two per centum of final average salary
21 per each year of credited service.
22 § 4. Section 603 of the retirement and social security law is amended
23 by adding a new subdivision x to read as follows:
24 x. The service retirement benefit specified in section six hundred
25 four, six hundred four-c, as added by chapter ninety-six of the laws of
26 nineteen hundred ninety-five, or six hundred four-d of this article
27 shall be payable to members with twenty-five or more years of creditable
28 service, without regard to age, who are employed as public safety
29 dispatcher, public safety telecommunicator, 911 operator, communications
30 officers, police communication technician, emergency services operator,
31 emergency services dispatcher, or any similar title, employed by the
32 state, or a county or municipal emergency services department who is
33 responsible for receiving and managing emergency calls, and dispatching
34 appropriate emergency services, including but not limited to, law
35 enforcement, fire, and medical assistance as defined in section eighty-
36 nine-z of this chapter if: (i) such members have met the minimum service
37 requirements upon retirement, and (ii) in the case of a member subject
38 to the provisions of article fourteen of this chapter, such member files
39 an election therefor which provides that such member will be subject to
40 the provisions of this article and to none of the provisions of such
41 article fourteen. Such election, which is irrevocable, shall be in writ-
42 ing, duly executed and shall be filed with the comptroller within one
43 year of an election such member's employer makes or within one year
44 after entering the employment with such county, municipality or employer
45 upon which eligibility is based, whichever comes later. For the purposes
46 of this subdivision, the term "creditable service" shall have the mean-
47 ing as defined in sections eighty-nine-z and six hundred one of this
48 chapter.
49 § 5. Section 604 of the retirement and social security law is amended
50 by adding a new subdivision x to read as follows:
51 x. The early service retirement for a member who is employed by the
52 state, or in a county, municipality or employer that makes the election
53 provided for in subdivision j of section eighty-nine-z of this chapter
54 as a public safety dispatcher, public safety telecommunicator, 911 oper-
55 ator, communications officers, police communication technician, emergen-
56 cy services operator, emergency services dispatcher, or any similar
A. 9162 8
1 title, employed by the state, or a county or municipal emergency
2 services department who is responsible for receiving and managing emer-
3 gency calls, and dispatching appropriate emergency services, including
4 but not limited to, law enforcement, fire, and medical assistance, as
5 defined in section eighty-nine-z of this chapter shall be a pension
6 equal to one-fiftieth of final average salary times years of credited
7 service at the completion of twenty-five years of service, but not
8 exceeding one-half of such member's final average salary. For service
9 beyond twenty-five years, the benefits shall increase by one-sixtieth of
10 final average salary for each year of additional service credit
11 provided, however, that the total allowance payable pursuant to this
12 section shall not exceed three-fourths of such member's final average
13 salary.
14 § 6. All past service costs incurred with implementing the provisions
15 of this act shall be borne by any employer that elects to provide the
16 benefits provided by this act.
17 § 7. This act shall take effect on the first of January next succeed-
18 ing the date on which it shall have become a law; provided, however,
19 that if section 2 of part TT of chapter 55 of the laws of 2025 shall not
20 have taken effect on or before such date then section three of this act
21 shall take effect on the same date and in the same manner as such chap-
22 ter of the laws of 2025, takes effect.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would permit the state, counties, and municipal emergency
services departments that participate in the New York State and Local
Employees' Retirement System to elect to provide members employed as
public safety dispatchers, public safety telecommunicators, 911 opera-
tors, communications officers, police communication technicians, emer-
gency services operators, emergency services dispatchers, or any similar
title that is responsible for receiving and managing emergency calls and
dispatching appropriate emergency services the option to retire upon
completion of twenty-five years of creditable service with a benefit of
one-half of final average salary (FAS) and for Tiers 3 through 6 an
additional benefit of one-sixtieth of FAS for each year of creditable
service in excess of twenty-five years, not to exceed fifteen years.
Additionally, members covered under Article 14 would be permitted one
year to make an irrevocable election to switch to the twenty-five-year
plan benefit.
If this bill is enacted during the 2025 Legislative Session, we antic-
ipate that there will be an increase in the annual contributions of an
electing employer of approximately 6% of salary paid to eligible members
for the fiscal year ending March 31, 2026. In future years this cost
will vary as the billing rates and salary of the affected members
change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately 17% of salary paid to
eligible members which will be borne by the electing employer as a one-
time payment.
Further, we anticipate additional administrative costs to implement
the provisions of this legislation.
The exact number of current members as well as future members who
could be affected by this legislation cannot be readily determined.
Prior to electing to provide these benefits, an employer would be
required to submit a roster of eligible members to the New York State
and Local Retirement System. This roster would be used to determine an
exact cost to the electing employer.
A. 9162 9
Summary of relevant resources:
Membership data as of March 31, 2024 was used in measuring the impact
of the proposed change, the same data used in the April 1, 2024 actuari-
al valuation. Distributions and other statistics can be found in the
2024 Report of the Actuary and the 2024 Annual Comprehensive Financial
Report. The actuarial assumptions and methods used are described in the
2024 Annual Report to the Comptroller on Actuarial Assumptions, and the
Codes, Rules and Regulations of the State of New York: Audit and
Control. The Market Assets and GASB Disclosures are found in the March
31, 2024 New York State and Local Retirement System Financial Statements
and Supplementary Information.
This fiscal note does not constitute a legal opinion on the viability
of the proposed change nor is it intended to serve as a substitute for
the professional judgment of an attorney.
This estimate, dated April 22, 2025, and intended for use only during
the 2025 Legislative Session, is Fiscal Note No. 2025-78. As Chief Actu-
ary of the New York State and Local Retirement System, I, Aaron Schottin
Young, hereby certify that this analysis complies with applicable Actu-
arial Standards of Practice as well as the Code of Professional Conduct
and Qualification Standards for Actuaries Issuing Statements of Actuari-
al Opinion of the American Academy of Actuaries, of which I am a member.
