Bill > A08669

This bill amends the retirement and social security law to provide a second opportunity for certain dispatcher members of the New York City Employees' Retirement System (NYCERS) who exceeded age 30 when they were employed and missed their original 180-day window to opt out of the Dispatcher 25-Year Retirement Plan. Specifically, the bill allows these members to file an election not to participate within 180 days of the bill's effective date. The retirement system is required to post the opt-out form and instructions on its website within 30 days of the bill's effective date. If the retirement system fails to post the form and instructions within that timeframe, the opt-out period will be extended by 60 days for each month the form is not available. This provision applies to Tier 4 and Tier 6 members who were older than 30 when they joined the Dispatcher 25-Year Retirement Plan and originally missed their chance to opt out. Members who choose to opt out will typically be placed into their underlying Tier 4 or Tier 6 retirement plan and will be eligible for an immediate refund of excess Additional Member Contributions with interest.

Budget and Finance, Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A8669