New York A07428 sets interest rates for actuarial valuations of retirement system liabilities, affecting NYCERS, NYCTRS, PPF, FPF, and BERS until.
New York A07428 amends the administrative code to specify interest rates for actuarial valuations of liabilities for the New York City Employees' Retirement System (NYCERS), New York City Teachers' Retirement System (NYCTRS), Police Pension Fund (PPF), Fire Department Pension Fund (FPF), and Board of Education Retirement System (BERS). It sets these rates at 1.25% from July 1, 2011, to June 30, 2029, and applies to employer contributions and interest crediting for members. The act takes effect July 1, 2025, or immediately if passed later.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.