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New York · 2025 Regular Session · Bill

S 8361: Extends for four fiscal years the current 7% per annum statutory rate of interest used in valuing retirement system liabilities for the purpose of computing the amount of employer contributions

In committee Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

S 8361 is a bill introduced in the New York Senate on June 5, 2025. According to its official title, it concerns: Extends for four fiscal years the current 7% per annum statutory rate of interest used in valuing retirement system liabilities for the purpose of computing the amount of employer contributions. Primary sponsor: Robert Jackson (Democratic/Working Families). Most recent recorded action (June 10, 2025): SUBSTITUTED BY A7428.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Relates to the rate of interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retirement system, the police pension fund, subchapter two, the fire department pension fund, subchapter two and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest and additional interest to members of such retirement systems, and the allowance of supplementary interest on the funds of such retirement systems; extends such provisions until June 30, 2029.

Sponsors

Sponsors by party (alphabetical): Democratic/Working Families 1

NameRolePartyChamberDistrict
Robert JacksonPrimary sponsorDemocratic/Working FamiliesSenate31

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. SUBSTITUTED BY A7428
  2. ORDERED TO THIRD READING CAL.1667
  3. REFERRED TO RULES

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source