New York bill S08361 sets interest rates for actuarial valuations of retirement system liabilities.

New York bill S08361 amends the administrative code to set interest rates for actuarial valuations of liabilities for New York City's retirement systems. It applies to the New York City Employees' Retirement System, the New York City Teachers' Retirement System, the Police Pension Fund, the Fire Department Pension Fund, and the Board of Education Retirement System. The bill sets a 7% interest rate for these systems from July 1, 2011, to June 30, 2029. It also specifies rates for special interest, additional interest, and supplementary interest for these systems.

New York bill S08361 sets interest rates for actuarial valuations of retirement system liabilities.

New York bill S08361 amends the administrative code to set interest rates for actuarial valuations of liabilities for New York City's retirement systems. It applies to the New York City Employees' Retirement System, the New York City Teachers' Retirement System, the Police Pension Fund, the Fire Department Pension Fund, and the Board of Education Retirement System. The bill sets a 7% interest rate for these systems from July 1, 2011, to June 30, 2029. It also specifies rates for special interest, additional interest, and supplementary interest for these systems.