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.
STATE OF NEW YORK
________________________________________________________________________
8234
2025-2026 Regular Sessions
IN SENATE
May 27, 2025
___________
Introduced by Sen. JACKSON -- (at request of the New York State Teach-
ers' Retirement System) -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
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] annually on or
5 before December thirty-first following the end of the teachers' retire-
6 ment system's fiscal year, following the effective date of this section,
7 the retirement board shall report to the governor, legislature and the
8 chief diversity officer of the state of New York on the participation of
9 MWBE asset managers, MWBE financial institutions and MWBE professional
10 service providers in investment and brokerage transactions with or as
11 providers of services for the teachers' retirement system, including a
12 comparative analysis of such activity relative to such activity with all
13 asset managers, financial institutions and professional service provid-
14 ers for the relevant period and on the progress and success of the
15 efforts undertaken during such period to achieve the goals of such stra-
16 tegy. Each report shall be simultaneously published on the website of
17 the teachers' retirement system for not less than sixty days following
18 its release to the governor and the other recipients named above;
19 § 2. This act shall take effect on the first of January next succeed-
20 ing the date on which it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13243-01-5
