Bill > S01564

This bill prevents the New York Department of State from issuing a certificate of dissolution or filing a judgment of dissolution for the pension fund of former St. Clare's Hospital employees in Schenectady until a thorough investigation is completed. Specifically, the bill requires that the New York State Department of Health, the Attorney General, or the State Comptroller conduct an investigation to determine whether there were any improprieties in how the pension fund's funds were handled and managed. The bill mandates that the Department of State must wait at least 60 days after the conclusion of such an investigation before proceeding with any dissolution of the pension fund. This legislative action appears to be aimed at protecting the interests of former hospital employees and ensuring transparency and accountability in the management of their pension funds by providing an opportunity for a comprehensive review before the fund is dissolved. The bill would take effect immediately upon becoming law.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S1564