New York A10939 amends retirement contribution rates for certain public employees.
New York A10939 modifies the retirement contribution rates for certain public employees, specifically those in the New York State and Local Employees' Retirement System, New York City Employees' Retirement System, New York City Teachers' Retirement System, and New York City Board of Education Retirement System. Effective April 1, 2026, the bill adjusts the contribution rates based on annual wages, reducing rates for lower-wage earners and increasing them for higher-wage earners. Additionally, it excludes overtime pay from the annual wages used to determine member contributions.
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