Bill > S09254

This bill, by amending sections of the education law, mandates that the state will gradually increase its contribution to the optional retirement program for certain employees of the State University of New York (SUNY) and the City University of New York (CUNY). Specifically, starting April 1, 2026, the state will contribute an additional one percent of the employee's contribution, followed by another one percent increase on April 1, 2027, and a final one percent increase on April 1, 2028, resulting in a total additional three percent state contribution for these "electing employees" who are already subject to specific contribution rules. These additional contributions will be funded from the state fringe benefit fund and the New York City pension budget, rather than the operating budgets of the universities.

Education

https://www.nysenate.gov/legislation/bills/2025/S9254