Relates to the retirement contributions of career public employees

Bill S 8134 amends the retirement and social security law to change how certain public employees contribute to their retirement system. It directly affects public employees who have ten or more years of membership in a state retirement system. For these employees, the bill sets their annual retirement contribution rate at a flat three percent (3%) of their annual wages. This replaces the current system where contribution rates can vary based on the employee's income level for members who joined after April 1, 2012.