New York S08133 proposes changes to retirement contribution rates for certain public employees.
New York S08133 amends the Retirement and Social Security Law and the Education Law to modify the retirement contribution rates for certain public employees. Effective April 1, 2026, the bill changes the contribution rates for Tier 6 members of the New York City Retirement Systems and Pension Funds (NYCRS), the New York State Teachers' Retirement System (TRS), and the New York State Police and Fire Retirement System (NYSLPFRS). The new rates are based on salary bands, with lower-wage employees contributing less and higher-wage employees contributing more.
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