Authorizes free association libraries to participate in the New York state and local employees' retirement system.

This bill amends the retirement and social security law to allow free association libraries to join the New York State and Local Employees' Retirement System (NYSLERS). To qualify, libraries must be chartered by the state board of regents, serve the entire population of their chartered service area, and meet other criteria. The comptroller will determine contributions and resolve prior service questions. The bill also notes potential Internal Revenue Service (IRS) plan qualification risks and recommends obtaining a favorable ruling from the IRS before implementation.

Authorizes free association libraries to participate in the New York state and local employees' retirement system.

This bill amends the retirement and social security law to allow free association libraries to join the New York State and Local Employees' Retirement System (NYSLERS). To qualify, libraries must be chartered by the state board of regents, serve the entire population of their chartered service area, and meet other criteria. The comptroller will determine contributions and resolve prior service questions. The bill also notes potential Internal Revenue Service (IRS) plan qualification risks and recommends obtaining a favorable ruling from the IRS before implementation.