S 6406 New York Senate · 2025 Regular Session

Allows beneficiaries of certain deceased members to elect to receive death benefits in a lump sum

Summary

Allows a beneficiary of a member whose death occurs on or after July 1, 2026 and who would have been entitled to a service credit at the time of such member's death to elect to receive a lump sum payment equal to the pension reserve that would have been established had the member retired on the date of such member's death.

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2025

Committee Review

Floor Vote

Governor

Introduced Mar 13, 2025 Last action Jan 9, 2026

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What changed between versions

S6406 → S6406A · 4 edits

MODERATE

This bill was amended to update its effective date from July 1, 2025, to July 1, 2026, and to add two new sponsors to the legislation. The amendment also updated the fiscal note to reflect a later implementation timeline, increasing the estimated one-time past service cost from $16.6 million to $25.6 million and shifting the start of annual contribution increases to fiscal year 2027 instead of 2026.

Scope change

The bill's scope regarding eligible members and the type of benefit remains unchanged; only the effective dates and associated financial estimates were modified.

TIMELINE

The effective date for the new death benefit option was delayed from July 1, 2025, to July 1, 2026.

SCOPE

Two additional senators, Harckham and Walczyk, were added as sponsors of the bill.

FISCAL

The estimated one-time past service cost increased from $16.6 million to $25.6 million, and the start of annual contribution increases was pushed back to fiscal year 2027.

The membership count used for cost estimates was updated from 15,927 members (based on 2024 data) to 14,529 members (based on 2025 data).

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jan 9, 2026

Upper · Passed

PRINT NUMBER 6406A

upper

Jan 9, 2026

Upper · Passed

AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS

upper

Jan 7, 2026

Committee

REFERRED TO CIVIL SERVICE AND PENSIONS

upper

Mar 13, 2025

Committee

REFERRED TO CIVIL SERVICE AND PENSIONS

upper

1 primary · 3 co-sponsors