Bill > S05435

This bill allows Jonathan Grossman, a retired Tier I member of the New York City Teachers' Retirement System (TRS) who originally retired on September 28, 2010, to apply for a recalculation of his retirement benefits. Specifically, the bill permits Grossman to have his retirement benefits retroactively adjusted to include a lump sum payment for accumulated vacation time, which was not originally included in his initial retirement calculation. To take advantage of this provision, Grossman must file an application with the state comptroller within one year of the act's effective date. The entire cost of implementing this recalculation, estimated at approximately $360,000, will be borne by the City of New York. Based on the fiscal note, this would increase Grossman's annual retirement allowance from $103,945 to $114,964, with the increase applying both prospectively and retroactively to his 2010 retirement date. The bill is specifically tailored to Grossman's unique situation and provides him an opportunity to have his retirement benefits more comprehensively calculated.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S5435