S 6434 New York Senate · 2025 Regular Session

Relates to increasing benefits payable by the correction officers' variable supplements fund to beneficiaries

This bill (S 6434) increases retirement benefits for beneficiaries of New York City correction officers. It requires the city's correction officers' variable supplements fund to pay beneficiaries an amount based on what they would have received if they retired on their earliest eligibility date (starting January 1, 2025), covering the period from that date until their actual retirement date. The change applies to payments made around December 15 each year following retirement. It directly affects retired correction officers and their dependents who receive these supplemental benefits. The bill takes effect immediately upon enactment.

Issues: ✓ Labor & Employment

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2025

Committee Review

Floor Vote

Governor

Introduced Mar 13, 2025 Last action Mar 9, 2026

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What changed between versions

S6434 → S6434A · 4 edits

MODERATE

This bill was amended to update the effective date for correction officers' retirement benefits from January 1, 2025 to January 1, 2026, and to revise financial projections based on updated actuarial data. The changes reflect a one-year delay in when certain benefits become available and adjust the estimated costs to the pension fund accordingly.

Scope change

The bill's scope remains the same, but the applicability dates shifted forward by one year, affecting when benefits become payable and when fiscal impacts are calculated.

ELIGIBILITY

The earliest date for calculating retirement eligibility benefits changed from January 1, 2025 to January 1, 2026, delaying when certain correction officers become eligible for enhanced benefits.

FISCAL

Projected employer contributions to the pension fund were updated, with the first year of impact moving from 2026 to 2027 and revised dollar amounts reflecting the one-year delay.

The actuarial present value of benefits increased from $75.5 million to $80.7 million, and unfunded liability amortization payments rose from $7.2 million to $8.2 million per year.

TECHNICAL

Census data for impacted correction officers was updated to reflect figures from June 30, 2025 instead of June 30, 2024, showing a slight decrease in active member count but higher average age and salary.

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Full legislative history

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Key actions

Committee

Amendments

Mar 9, 2026

Upper · Passed

PRINT NUMBER 6434A

upper

Mar 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 · 0 co-sponsors