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S09254 Summary:

BILL NOS09254
 
SAME ASNo Same As
 
SPONSORJACKSON
 
COSPNSR
 
MLTSPNSR
 
Amd §§392 & 6252, Ed L
 
Provides certain members of the optional retirement program with an additional three percent statutory state contribution for the members of the optional retirement program for employees of both the State University of New York and the City University of New York.
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S09254 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9254
 
                    IN SENATE
 
                                    February 18, 2026
                                       ___________
 
        Introduced  by  Sen. JACKSON -- read twice and ordered printed, and when
          printed to be committed to the Committee on Higher Education
 
        AN ACT to amend the education law, in  relation  to  mandatory  contrib-
          utions for members in the optional retirement program
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subdivision 2 of  section  392  of  the  education  law  is
     2  amended by adding a new paragraph (e) to read as follows:
     3    (e)  Notwithstanding  any  other law to the contrary, (1) on and after
     4  April first, two thousand twenty-six, for any electing employee  who  is
     5  subject to paragraph (d) of this subdivision, the state shall contribute
     6  an  additional  one percent of the employee contribution pursuant to the
     7  provisions of this section on behalf of such employee; and  (2)  on  and
     8  after  April first, two thousand twenty-seven, for any electing employee
     9  who is subject to paragraph (d) of this  subdivision,  the  state  shall
    10  contribute an additional one percent of the employee contribution pursu-
    11  ant  to  the  provisions of this section on behalf of such employee; and
    12  (3) on and after April first, two thousand twenty-eight, for any  elect-
    13  ing  employee  who  is subject to paragraph (d) of this subdivision, the
    14  state shall  contribute  an  additional  one  percent  of  the  employee
    15  contribution  pursuant  to  the  provisions of this section on behalf of
    16  such employee.
    17    § 2. Subdivision 2 of section 6252 of the education law is amended  by
    18  adding a new paragraph (e) to read as follows:
    19    (e)  Notwithstanding  any  other law to the contrary, (1) on and after
    20  April first, two thousand twenty-six, for any electing employee  who  is
    21  subject to paragraph (d) of this subdivision, the state shall contribute
    22  an  additional  one percent of the employee contribution pursuant to the
    23  provisions of this section on behalf of such employee; and  (2)  on  and
    24  after  April first, two thousand twenty-seven, for any electing employee
    25  who is subject to paragraph (d) of this  subdivision,  the  state  shall
    26  contribute an additional one percent of the employee contribution pursu-
    27  ant  to  the  provisions of this section on behalf of such employee; and
    28  (3) on and after April first, two thousand twenty-eight, for any  elect-
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14698-01-6

        S. 9254                             2
 
     1  ing  employee  who  is subject to paragraph (d) of this subdivision, the
     2  state shall  contribute  an  additional  one  percent  of  the  employee
     3  contribution  pursuant  to  the  provisions of this section on behalf of
     4  such employee.
     5    § 3. The contribution provided for in sections one and two of this act
     6  by  the state and city of New York shall be provided outside the operat-
     7  ing budget of the city university of New  York  from  the  state  fringe
     8  benefit  fund  and  the  New York city pension budget for the senior and
     9  community colleges, respectively.
    10    § 4. This act shall take effect immediately.
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