Fabio
73 lines
4.1 KiB
Markdown
73 lines
4.1 KiB
Markdown
---
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type: "Bill"
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title: "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"
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description: "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."
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jurisdiction: "us/states/ny"
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legislature: "New York Legislature"
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session: "2025-2026"
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identifier: "A 7428"
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citation: "New York A 7428 (2025-2026)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Stacey Pheffer Amato"]
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version_count: 1
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action_count: 15
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vote_count: 2
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first_action: "2025-03-26"
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last_action: "2025-06-18"
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source: "openstates"
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source_identifier: "ocd-bill/d4c7f45c-c7ca-40fa-8383-d247926d8160"
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source_url: "http://www.nysenate.gov/legislation/bills/2025/A7428"
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source_hash: "cc118eebfbcbb4c4f475c45f8c74e57546db14f702a13b792ba9da6f95fcb880"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-ny"]
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---
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# New York A 7428 (2025-2026) — 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
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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.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **A7428** (committee substitute) — [source](http://assembly.state.ny.us/leg/?sh=printbill&bn=A7428&term=2025&Text=Y)
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## Votes
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- Floor Vote — **58–0** (pass) · upper
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- Assembly Vote — **144–0** (pass) · lower
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## Sponsors
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- Stacey Pheffer Amato — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2025-03-26** REFERRED TO GOVERNMENTAL EMPLOYEES `referral-committee`
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- **2025-04-30** REPORTED REFERRED TO WAYS AND MEANS `referral-committee`
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- **2025-05-27** REPORTED REFERRED TO RULES `referral-committee`
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- **2025-06-04** REPORTED
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- **2025-06-04** RULES REPORT CAL.401
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- **2025-06-04** ORDERED TO THIRD READING RULES CAL.401
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- **2025-06-04** PASSED ASSEMBLY `passage`
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- **2025-06-04** DELIVERED TO SENATE
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- **2025-06-04** REFERRED TO RULES `referral-committee`
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- **2025-06-10** SUBSTITUTED FOR S8361
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- **2025-06-10** 3RD READING CAL.1667
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- **2025-06-10** PASSED SENATE `passage`
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- **2025-06-10** RETURNED TO ASSEMBLY
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- **2025-06-18** DELIVERED TO GOVERNOR `executive-receipt`
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- **2025-06-18** SIGNED CHAP.139 `executive-signature`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/d4c7f45c-c7ca-40fa-8383-d247926d8160`. Confidence: reported (aggregated from official New York legislature records).
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