A 8207 New York Assembly · 2025 Regular Session

Relates to applying cost-of-living adjustments

Bill A 8207 adjusts the eligibility criteria for cost-of-living adjustments (COLA) for New York public retirement systems, including those in New York City. The bill primarily affects pensioners, disability pensioners, and recipients of accidental death benefits. It lowers the age requirement for regular pensioners to receive COLA from 62 to 55, provided they have been retired for five years. This also eliminates the previous requirement for pensioners aged 55 to be retired for ten years to qualify for the adjustment. These changes are scheduled to become effective on September 1, 2025.

Bill status in committee 1 of 4 stages cleared

Introduction

May 2025

Committee Review

Floor Vote

Governor

Introduced May 5, 2025 Last action May 6, 2026

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What changed between versions

A8207 → A8207A · 5 edits

MODERATE

This bill updates the effective date for cost-of-living adjustments in New York retirement systems from September 2025 to September 2026 and adjusts the estimated fiscal impact. The changes reflect a delayed implementation, resulting in lower projected costs for the state and employers while maintaining the same eligibility criteria for pensioners.

Scope change

The bill's scope regarding eligibility criteria remains unchanged, but the timeline for implementation was extended by one year.

TIMELINE

The effective date for cost-of-living adjustments was changed from September 2025 to September 2026.

FISCAL

The estimated increase in the present value of benefits for the NYSLERS system was reduced from approximately $599 million to $346 million due to the delayed effective date.

The state's required payment to fund retrospective costs was reduced from $373 million in March 2026 to $263 million in March 2027.

The annual employer contribution rate for the NYSLERS system was lowered from 0.09% to 0.04% of billable salary, reducing the annual cost to the state and local employers.

The estimated increase in the present value of benefits for the NYSLPFRS system was adjusted from $126 million to $116 million.

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Full legislative history

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Committee

Amendments

May 6, 2026

Lower · Passed

PRINT NUMBER 8207A

lower

May 6, 2026

Lower · Passed

AMEND AND RECOMMIT TO GOVERNMENTAL EMPLOYEES

lower

Jan 7, 2026

Committee

REFERRED TO GOVERNMENTAL EMPLOYEES

lower

May 5, 2025

Committee

REFERRED TO GOVERNMENTAL EMPLOYEES

lower

1 primary · 0 co-sponsors