Bill > S06258

This bill amends the New York State Teachers' Retirement System (NYSTRS) law to provide more flexibility for retirees in changing their retirement plan beneficiary, specifically when designating a spouse. Currently, retirees have limited timeframes to make changes to their beneficiary selections after retirement. The proposed legislation would allow NYSTRS members who have retired for service or with a deferred retirement allowance to designate their spouse as a beneficiary at any time, both before and after retirement. Similarly, members retired due to disability would also have the ability to change their beneficiary to a spouse at any time, without being constrained by the previous 30-day limitation. This change provides greater personal choice and adaptability for retirees in managing their retirement benefits, potentially offering more security and options for married individuals as their life circumstances change. The amendment is straightforward and would take effect immediately upon passage.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S6258