Allows NYSTRS retirees to change their retirement plan beneficiary to a spouse at any time either prior to or after retirement.

New York Assembly Bill A03416 amends the education law to allow retirees from the New York State and Local Retirement System (NYSTRS) to change their retirement plan beneficiary to a spouse at any time, either before or after retirement. Previously, retirees had to make such changes within 30 days of retirement. This change provides greater flexibility for retirees to update their beneficiary designations as their personal circumstances evolve. The bill takes effect immediately upon enactment.

Allows NYSTRS retirees to change their retirement plan beneficiary to a spouse at any time either prior to or after retirement.

New York Assembly Bill A03416 amends the education law to allow retirees from the New York State and Local Retirement System (NYSTRS) to change their retirement plan beneficiary to a spouse at any time, either before or after retirement. Previously, retirees had to make such changes within 30 days of retirement. This change provides greater flexibility for retirees to update their beneficiary designations as their personal circumstances evolve. The bill takes effect immediately upon enactment.