S T A T E O F N E W Y O R K
________________________________________________________________________
6989
2025-2026 Regular Sessions
I N S E N A T E
March 27, 2025
___________
Introduced by Sen. JACKSON -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
AN ACT to amend the retirement and social security law, in relation to
establishing alternative twenty and twenty-five year plans for certain
officers of state law enforcement
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The retirement and social security law is amended by adding
two new sections 383-e and 383-f to read as follows:
§ 383-E. RETIREMENT OF OFFICERS OF STATE LAW ENFORCEMENT; TWENTY YEAR
RETIREMENT PLAN. A. MEMBERSHIP. EVERY NON-SEASONALLY APPOINTED SWORN
MEMBER OR OFFICER OF THE DIVISION OF LAW ENFORCEMENT IN THE DEPARTMENT
OF ENVIRONMENTAL CONSERVATION, A FOREST RANGER IN THE SERVICE OF THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION, WHICH SHALL MEAN A PERSON WHO
SERVES ON A FULL-TIME BASIS IN THE TITLE OF FOREST RANGER I, FOREST
RANGER II, FOREST RANGER III, ASSISTANT SUPERINTENDENT OF FOREST FIRE
CONTROL, SUPERINTENDENT OF FOREST FIRE CONTROL OR ANY SUCCESSOR TITLES
OR NEW TITLES IN THE FOREST RANGER TITLE SERIES IN THE DEPARTMENT OF
ENVIRONMENTAL CONSERVATION, A POLICE OFFICER IN THE DEPARTMENT OF ENVI-
RONMENTAL CONSERVATION, THE REGIONAL STATE PARK POLICE, AND UNIVERSITY
POLICE OFFICERS WHO ENTER OR RE-ENTER SERVICE IN ANY SUCH TITLE WHOSE
DATE OF MEMBERSHIP IS ON OR AFTER JANUARY NINTH, TWO THOUSAND TEN IN
SUCH SERVICE ON OR BEFORE ONE YEAR PRIOR TO THE EFFECTIVE DATE OF THIS
SECTION MAY ELECT TO BE COVERED BY THE PROVISIONS OF THIS SECTION BY
FILING AN ELECTION THEREFOR WITH THE COMPTROLLER. TO BE EFFECTIVE, SUCH
ELECTION MUST BE DULY EXECUTED AND ACKNOWLEDGED ON A FORM PREPARED BY
THE COMPTROLLER FOR THAT PURPOSE.
B. RETIREMENT ALLOWANCE. A MEMBER, COVERED BY THE PROVISIONS OF THIS
SECTION AT THE TIME OF RETIREMENT, SHALL BE ENTITLED TO RETIRE UPON
COMPLETION OF TWENTY YEARS OF TOTAL CREDITABLE SERVICE IN SUCH TITLES,
AND SHALL RETIRE UPON THE ATTAINMENT OF THE MANDATORY RETIREMENT AGE
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08868-05-5
S. 6989 2
PRESCRIBED BY THIS SECTION, BY FILING AN APPLICATION THEREFOR IN A
MANNER SIMILAR TO THAT PROVIDED IN SECTION THREE HUNDRED SEVENTY OF THIS
ARTICLE.
1. UPON COMPLETION OF TWENTY YEARS OF SUCH SERVICE AND UPON RETIRE-
MENT, EACH SUCH MEMBER SHALL RECEIVE A PENSION WHICH, TOGETHER WITH AN
ANNUITY FOR SUCH YEARS OF SERVICE AS PROVIDED IN PARAGRAPH FOUR OF THIS
SUBDIVISION, SHALL BE SUFFICIENT TO PROVIDE SUCH MEMBER WITH A RETIRE-
MENT ALLOWANCE OF ONE-HALF OF SUCH MEMBER'S FINAL AVERAGE SALARY.
2. UPON COMPLETION OF MORE THAN TWENTY YEARS OF SUCH SERVICE AND UPON
RETIREMENT, EACH SUCH MEMBER SHALL RECEIVE, FOR EACH YEAR OF SERVICE IN
EXCESS OF TWENTY, AN ADDITIONAL PENSION WHICH, TOGETHER WITH AN ANNUITY
FOR EACH SUCH YEAR AS PROVIDED IN PARAGRAPH FOUR OF THIS SUBDIVISION,
SHALL BE EQUAL TO ONE-SIXTIETH OF SUCH MEMBER'S FINAL AVERAGE SALARY,
PROVIDED, HOWEVER, THAT THE PENSION PAYABLE PURSUANT TO THIS SECTION
SHALL NOT EXCEED THREE-QUARTERS OF FINAL AVERAGE SALARY.
3. UPON ATTAINMENT OF THE MANDATORY RETIREMENT AGE WITHOUT COMPLETION
OF TWENTY YEARS OF SUCH SERVICE, EACH SUCH MEMBER SHALL RECEIVE A
PENSION WHICH, TOGETHER WITH AN ANNUITY FOR SUCH YEARS OF SERVICE AS
PROVIDED IN PARAGRAPH FOUR OF THIS SUBDIVISION, SHALL BE EQUAL TO ONE-
FORTIETH OF SUCH MEMBER'S FINAL AVERAGE SALARY FOR EACH YEAR OF CREDITA-
BLE SERVICE IN SUCH TITLES. EVERY SUCH MEMBER SHALL ALSO BE ENTITLED TO
AN ADDITIONAL PENSION EQUAL TO THE PENSION FOR ANY CREDITABLE SERVICE
RENDERED WHILE NOT AN EMPLOYEE IN SUCH TITLES AS PROVIDED UNDER PARA-
GRAPHS THREE AND FOUR OF SUBDIVISION A OF SECTION THREE HUNDRED SEVEN-
TY-FIVE OF THIS ARTICLE. THIS LATTER PENSION SHALL NOT INCREASE THE
TOTAL ALLOWANCE TO MORE THAN ONE-HALF OF SUCH MEMBER'S FINAL AVERAGE
SALARY.
4. THE ANNUITY PROVIDED UNDER PARAGRAPHS ONE, TWO AND THREE OF THIS
SUBDIVISION SHALL BE THE ACTUARIAL EQUIVALENT, AT THE TIME OF RETIRE-
MENT, OF THE MEMBER'S ACCUMULATED CONTRIBUTIONS BASED UPON THE RATE OF
CONTRIBUTION FIXED UNDER SECTION THREE HUNDRED EIGHTY-THREE OF THIS
TITLE AND UPON THE SALARIES EARNED WHILE IN SUCH SERVICE. SUCH ANNUITY
SHALL BE COMPUTED AS IT WOULD BE IF IT WERE NOT REDUCED BY THE ACTUARIAL
EQUIVALENT OF ANY OUTSTANDING LOAN NOR BY REASON OF THE MEMBER'S
ELECTION TO DECREASE SUCH MEMBER'S CONTRIBUTIONS TOWARD RETIREMENT IN
ORDER TO APPLY THE RESULTING AMOUNT TOWARD PAYMENT OF CONTRIBUTIONS FOR
OLD AGE AND SURVIVOR'S INSURANCE. ANY ACCUMULATED CONTRIBUTIONS IN
EXCESS OF THE AMOUNT REQUIRED TO PROVIDE THE ANNUITY COMPUTED PURSUANT
TO THIS PARAGRAPH SHALL BE USED TO INCREASE THE MEMBER'S RETIREMENT
ALLOWANCE.
C. CREDIT FOR PREVIOUS SERVICE. IN COMPUTING THE YEARS OF TOTAL CRED-
ITABLE SERVICE FOR EACH MEMBER DESCRIBED HEREIN, FULL CREDIT SHALL BE
GIVEN AND FULL ALLOWANCE SHALL BE MADE FOR SERVICE RENDERED AS A POLICE
OFFICER OR STATE UNIVERSITY PEACE OFFICER OR MEMBER OF A POLICE FORCE OR
DEPARTMENT OF A STATE PARK AUTHORITY OR COMMISSION OR AN ORGANIZED
POLICE FORCE OR DEPARTMENT OF A COUNTY, CITY, TOWN, VILLAGE, POLICE
DISTRICT, AUTHORITY OR OTHER PARTICIPATING EMPLOYER OR MEMBER OF THE
CAPITAL POLICE FORCE IN THE OFFICE OF GENERAL SERVICES WHILE A MEMBER OF
THE NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM, OF THE
NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM OR OF THE NEW YORK
CITY POLICE PENSION FUND AND FOR ALL SERVICE FOR WHICH FULL CREDIT HAS
BEEN GIVEN AND FULL ALLOWANCE MADE PURSUANT TO THE PROVISIONS OF SECTION
THREE HUNDRED SEVENTY-FIVE-H OF THIS ARTICLE PROVIDED, HOWEVER, THAT
FULL CREDIT PURSUANT TO THE PROVISIONS OF SUCH SECTION SHALL MEAN ONLY
SUCH SERVICE AS WOULD BE CREDITABLE SERVICE PURSUANT TO THE PROVISIONS
OF SECTION THREE HUNDRED EIGHTY-THREE, THREE HUNDRED EIGHTY-THREE-A,
S. 6989 3
THREE HUNDRED EIGHTY-THREE-B, AS ADDED BY CHAPTER SIX HUNDRED SEVENTY-
FOUR OF THE LAWS OF NINETEEN HUNDRED EIGHTY-SIX, THREE HUNDRED EIGHTY-
THREE-B, AS ADDED BY CHAPTER SIX HUNDRED SEVENTY-SEVEN OF THE LAWS OF
NINETEEN HUNDRED EIGHTY-SIX, THREE HUNDRED EIGHTY-THREE-C OR THREE
HUNDRED EIGHTY-THREE-D OF THIS TITLE OR PURSUANT TO THE PROVISIONS OF
TITLE THIRTEEN OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK FOR
ANY MEMBER CONTRIBUTING PURSUANT TO THIS SECTION WHO TRANSFERRED TO THE
JURISDICTION OF THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION INCLUDING
BUT NOT LIMITED TO ENVIRONMENTAL CONSERVATION OFFICERS AND FOREST
RANGERS, REGIONAL STATE PARK POLICE OR STATE UNIVERSITY OF NEW YORK
PEACE OFFICERS.
D. RETIREMENT FOR CAUSE. UPON RECEIPT OF A CERTIFICATE FROM THE HEAD
OF THE ENTITY WHERE SUCH MEMBER IS EMPLOYED OR SUCH MEMBER'S DESIGNEE, A
MEMBER AS DESCRIBED IN SUBDIVISION A OF THIS SECTION, WHO HAS ACCRUED
TWENTY-FIVE OR MORE YEARS OF SERVICE CREDIT UNDER THIS SECTION SHALL BE
RETIRED ON THE FIRST DAY OF THE SECOND MONTH NEXT SUCCEEDING THE DATE
SUCH CERTIFICATE WAS FILED WITH THE COMPTROLLER.
E. CREDIT FOR MILITARY SERVICE. IN COMPUTING THE YEARS OF TOTAL CRED-
ITABLE SERVICE FULL CREDIT SHALL BE GIVEN AND FULL ALLOWANCE SHALL BE
MADE FOR SERVICE OF SUCH MEMBER IN WAR AFTER WORLD WAR I AS DEFINED IN
SECTION THREE HUNDRED TWO OF THIS ARTICLE, PROVIDED SUCH MEMBER AT THE
TIME OF SUCH MEMBER'S ENTRANCE INTO THE ARMED FORCES WAS IN POLICE
SERVICE AS DEFINED IN SUBDIVISION ELEVEN OF SECTION THREE HUNDRED TWO OF
THIS ARTICLE.
F. TRANSFER OF MEMBERSHIP TO EMPLOYEES' RETIREMENT SYSTEM. ANY MEMBER
CURRENTLY ENROLLED PURSUANT TO THIS SECTION AND WHO PREVIOUSLY TRANS-
FERRED SERVICE CREDIT FROM THE NEW YORK STATE AND LOCAL EMPLOYEES'
RETIREMENT SYSTEM TO THE NEW YORK STATE AND LOCAL POLICE AND FIRE
RETIREMENT SYSTEM, MAY ELECT TO TRANSFER SUCH PREVIOUSLY TRANSFERRED
SERVICE CREDIT BACK TO THE NEW YORK STATE AND LOCAL EMPLOYEES' RETIRE-
MENT SYSTEM, AND SUCH MEMBER SHALL HAVE THE OPTION TO RETROACTIVELY
TRANSFER SUCH MEMBER'S MEMBERSHIP INTO SUCH EMPLOYEES' RETIREMENT
SYSTEM.
G. THE PROVISIONS OF THIS SECTION SHALL BE CONTROLLING, NOTWITHSTAND-
ING ANY PROVISION OF THIS ARTICLE TO THE CONTRARY.
§ 383-F. RETIREMENT OF OFFICERS OF STATE LAW ENFORCEMENT; ALTERNATIVE
TWENTY-FIVE YEAR RETIREMENT PLAN. A. MEMBERSHIP. EVERY NON-SEASONALLY
APPOINTED SWORN MEMBER OR OFFICER OF THE DIVISION OF LAW ENFORCEMENT IN
THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION, A FOREST RANGER IN THE
SERVICE OF THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION, WHICH SHALL
MEAN A PERSON WHO SERVES ON A FULL-TIME BASIS IN THE TITLE OF FOREST
RANGER I, FOREST RANGER II, FOREST RANGER III, ASSISTANT SUPERINTENDENT
OF FOREST FIRE CONTROL, OR ANY SUCCESSOR TITLES OR NEW TITLES IN THE
FOREST RANGER TITLE SERIES IN THE DEPARTMENT OF ENVIRONMENTAL CONSERVA-
TION, A POLICE OFFICER IN THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION,
THE REGIONAL STATE PARK POLICE, AND UNIVERSITY POLICE OFFICERS WHOSE
DATE OF MEMBERSHIP IS PRIOR TO JANUARY NINTH, TWO THOUSAND TEN IN SUCH
SERVICE WITHIN ONE YEAR OF THE EFFECTIVE DATE OF THIS SECTION OR WITHIN
ONE YEAR OF EMPLOYMENT IN AN ELIGIBLE TITLE, WHICHEVER IS LATER, MAY
ELECT TO BE COVERED BY THE PROVISIONS OF THIS SECTION BY FILING AN
ELECTION THEREFOR WITH THE COMPTROLLER. UPON COMPLETION OF TWENTY-FIVE
YEARS OF SUCH SERVICE AND UPON RETIREMENT, EACH SUCH MEMBER SHALL
RECEIVE A PENSION WHICH, TOGETHER WITH AN ANNUITY, IF ANY, WHICH SHALL
BE THE ACTUARIAL EQUIVALENT OF SUCH MEMBER'S ACCUMULATED CONTRIBUTIONS
AT THE TIME OF THEIR RETIREMENT AND AN ADDITIONAL PENSION WHICH IS THE
ACTUARIAL EQUIVALENT OF THE RESERVE-FOR-INCREASED-TAKE-HOME-PAY TO WHICH
S. 6989 4
SUCH MEMBER MAY THEN BE ENTITLED, IF ANY, SHALL BE SUFFICIENT TO PROVIDE
SUCH MEMBER WITH A RETIREMENT ALLOWANCE EQUAL TO 58.333 PERCENT OF THEIR
FINAL AVERAGE SALARY. TO BE EFFECTIVE, SUCH ELECTION MUST BE DULY
EXECUTED AND ACKNOWLEDGED ON A FORM PREPARED BY THE COMPTROLLER FOR SUCH
PURPOSE.
B. RETIREMENT ALLOWANCE. 1. A MEMBER, COVERED BY THE PROVISIONS OF
THIS SECTION AT THE TIME OF RETIREMENT, SHALL BE ENTITLED TO RETIRE UPON
COMPLETION OF TWENTY-FIVE YEARS OF TOTAL CREDITABLE SERVICE IN SUCH
TITLES BY FILING AN APPLICATION THEREFOR IN A MANNER SIMILAR TO THAT
PROVIDED IN SECTION THREE HUNDRED SEVENTY OF THIS ARTICLE.
2. UPON COMPLETION OF MORE THAN TWENTY-FIVE YEARS OF SUCH SERVICE AND
UPON RETIREMENT, EACH SUCH MEMBER SHALL RECEIVE, FOR EACH YEAR OF
SERVICE IN EXCESS OF TWENTY-FIVE, AN ADDITIONAL PENSION WHICH, TOGETHER
WITH AN ANNUITY FOR EACH SUCH YEAR AS PROVIDED IN PARAGRAPH THREE OF
THIS SUBDIVISION, SHALL BE EQUAL TO ONE-SIXTIETH OF THEIR FINAL AVERAGE
SALARY, PROVIDED, HOWEVER, THAT THE PENSION PAYABLE PURSUANT TO THIS
SECTION SHALL NOT EXCEED THREE-QUARTERS OF SUCH MEMBER'S FINAL AVERAGE
SALARY.
3. THE ANNUITY PROVIDED UNDER PARAGRAPH TWO OF THIS SUBDIVISION SHALL
BE THE ACTUARIAL EQUIVALENT, AT THE TIME OF RETIREMENT, OF THE MEMBER'S
ACCUMULATED CONTRIBUTIONS BASED UPON THE RATE OF CONTRIBUTIONS FIXED
UNDER SECTION THREE HUNDRED EIGHTY-THREE OF THIS TITLE AND UPON THE
SALARIES EARNED WHILE IN SUCH SERVICE. SUCH ANNUITY SHALL BE COMPUTED AS
IT WOULD BE IF IT WERE NOT REDUCED BY THE ACTUARIAL EQUIVALENT OF ANY
OUTSTANDING LOAN NOR BY REASON OF THE MEMBER'S ELECTION TO DECREASE SUCH
MEMBER'S CONTRIBUTIONS FOR OLD AGE AND SURVIVOR'S INSURANCE. ANY ACCUMU-
LATED CONTRIBUTIONS IN EXCESS OF THE AMOUNT REQUIRED TO PROVIDE THE
ANNUITY COMPUTED PURSUANT TO THIS PARAGRAPH SHALL BE USED TO INCREASE
THE MEMBER'S RETIREMENT ALLOWANCE.
C. CREDIT FOR PREVIOUS SERVICE. IN COMPUTING THE YEARS OF TOTAL CRED-
ITABLE SERVICE FOR EACH MEMBER DESCRIBED HEREIN, FULL CREDIT SHALL BE
GIVEN AND FULL ALLOWANCE SHALL BE MADE FOR SERVICE RENDERED AS A POLICE
OFFICER OR STATE UNIVERSITY PEACE OFFICER OR MEMBER OF A POLICE FORCE OR
DEPARTMENT OF A STATE PARK AUTHORITY OR COMMISSION OR AN ORGANIZED
POLICE FORCE OR DEPARTMENT OF A COUNTY, CITY, TOWN, VILLAGE, POLICE
DISTRICT, AUTHORITY OR OTHER PARTICIPATING EMPLOYER OR MEMBER OF THE
CAPITAL POLICE FORCE IN THE OFFICE OF GENERAL SERVICES WHILE A MEMBER OF
THE NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM, OF THE
NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM OR OF THE NEW YORK
CITY POLICE PENSION FUND AND FOR ALL SERVICE FOR WHICH FULL CREDIT HAS
BEEN GIVEN AND FULL ALLOWANCE MADE PURSUANT TO THE PROVISIONS OF SECTION
THREE HUNDRED SEVENTY-FIVE-H OF THIS ARTICLE PROVIDED, HOWEVER, THAT
FULL CREDIT PURSUANT TO THE PROVISIONS OF SUCH SECTION SHALL MEAN ONLY
SUCH SERVICE AS WOULD BE CREDITABLE SERVICE PURSUANT TO THE PROVISIONS
OF SECTION THREE HUNDRED EIGHTY-THREE, THREE HUNDRED EIGHTY-THREE-A,
THREE HUNDRED EIGHTY-THREE-B, AS ADDED BY CHAPTER SIX HUNDRED SEVENTY-
FOUR OF THE LAWS OF NINETEEN HUNDRED EIGHTY-SIX, THREE HUNDRED EIGHTY-
THREE-B, AS ADDED BY CHAPTER SIX HUNDRED SEVENTY-SEVEN OF THE LAWS OF
NINETEEN HUNDRED EIGHTY-SIX, THREE HUNDRED EIGHTY-THREE-C OR THREE
HUNDRED EIGHTY-THREE-D OF THIS TITLE OR PURSUANT TO THE PROVISIONS OF
TITLE THIRTEEN OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK FOR
ANY MEMBER CONTRIBUTING PURSUANT TO THIS SECTION WHO TRANSFERRED TO THE
JURISDICTION OF THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION INCLUDING
BUT NOT LIMITED TO ENVIRONMENTAL CONSERVATION OFFICERS AND FOREST
RANGERS, REGIONAL STATE PARK POLICE OR STATE UNIVERSITY OF NEW YORK
PEACE OFFICERS.
S. 6989 5
§ 2. Notwithstanding any other provision of law to the contrary, any
member of the New York state and local police and fire retirement system
who is covered by this act who became a member on or after July 1, 2009
and before January 9, 2010 who elects coverage under section 383-f of
the retirement and social security law pursuant to this act shall be
making an irrevocable election subject to all the terms and conditions
of article 11 of the retirement and social security law.
§ 3. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would create §383-e and §383-f in the Retirement and Social
Security Law (RSSL) providing new service retirement benefits to law
enforcement officers employed by the State of New York, currently
covered by the provisions of
+ RSSL §383-a: regional state park police;
+ RSSL §383-b: department of environmental conservation (DEC)
police;
+ RSSL §383-b: office of general services capital police;
+ RSSL §383-c: DEC forest rangers;
+ RSSL §383-d: State University of New York police.
Currently, these members of the New York State and Local Police and
Fire Retirement System (NYSLPFRS) are covered by a 25-year half-pay
service retirement plan with up to 7 years of additional 60ths.
RSSL §383-e is available to officers whose date of membership is on or
after January 9, 2010 (commonly called Tier 5 or Tier 6 members) and
provides a 20-year half-pay service retirement plan with up to 15 years
of additional 60ths.
RSSL §383-f is available to officers whose date of membership is
before January 9, 2010 (commonly called Tier 1, Tier 2, or Tier 3
members). Members would be eligible to retire upon attaining 25-years
of service credit. However, the benefit accruals would be equal to those
under a 20-year half-pay service retirement plan with up to 15 years of
additional 60ths.
Disability benefits are not expected to change.
If this bill is enacted during the 2025 Legislative Session, we antic-
ipate that there will be an increase of approximately $6.9 million in
the annual contributions of the State of New York for the fiscal year
ending March 31, 2026. While billing rates will immediately increase
approximately 5% of salary, annual costs will vary over time and are
expected to average 3.75% of salary in the long term.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $96.2 million which will
be borne by the State of New York as a one-time payment. This estimate
assumes that payment will be made on March 1, 2026.
These estimated costs are based on 1,200 affected members employed by
the State of New York, with annual salary of approximately $123.8
million as of March 31, 2024.
Summary of relevant resources:
Membership data as of March 31, 2024 was used in measuring the impact
of the proposed change, the same data used in the April 1, 2024 actuari-
al valuation. Distributions and other statistics can be found in the
2024 Report of the Actuary and the 2024 Annual Comprehensive Financial
Report. The actuarial assumptions and methods used are described in the
2024 Annual Report to the Comptroller on Actuarial Assumptions, and the
Codes, Rules and Regulations of the State of New York: Audit and
Control. The Market Assets and GASB Disclosures are found in the March
S. 6989 6
31, 2024 New York State and Local Retirement System Financial Statements
and Supplementary Information.
This fiscal note does not constitute a legal opinion on the viability
of the proposed change nor is it intended to serve as a substitute for
the professional judgment of an attorney.
This estimate, dated March 26, 2025, and intended for use only during
the 2025 Legislative Session, is Fiscal Note No. 2025-68. As Chief Actu-
ary of the New York State and Local Retirement System, I, Aaron Schottin
Young, hereby certify that this analysis complies with applicable Actu-
arial Standards of Practice as well as the Code of Professional Conduct
and Qualification Standards for Actuaries Issuing Statements of Actuari-
al Opinion of the American Academy of Actuaries, of which I am a member.
