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Bill

S 7938

Authorizes Kristin Proud to receive certain service credit with the New York state and local employees' retirement system

2025 Regular Session Introduced by Jake Ashby and 1 co-sponsor

Authorizes Kristin Proud to receive a certain NYSLERS service credit, potentially altering her retirement benefits; a targeted, single-person change.

REPORTED AND COMMITTED TO FINANCE
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WeVote Research Nonpartisan
Bill Summary · S 7938

Summary of Bill S 7938: Authorizes Kristin Proud to receive certain service credit with the New York state and local employees' retirement system

Overview

Bill S 7938 would authorize a specific individual, Kristin Proud, to receive certain service credit within the New York State and Local Employees' Retirement System (NYSLERS). The bill is targeted at adjusting an individual’s credit in the state retirement system, with details to be provided in the bill’s text.

What the bill would do

  • Authorizes Kristin Proud to receive a defined amount or type of service credit under NYSLERS.
  • The exact terms, including eligibility criteria, the specific category of service credit, and any associated costs or repayment requirements, would be set forth in the statute.
  • As a targeted, individual authorization, the bill does not appear to create a broad, general provision for all members, but rather establishes credit for a single named person.

Key provisions (as currently described)

  • Named individual: Kristin Proud.
  • Jurisdiction: New York State and Local Employees’ Retirement System (NYSLERS).
  • Nature of change: Authorization to receive “certain service credit” in NYSLERS.
  • Specific terms, conditions, and financial implications would be defined in the bill’s text.

Note: The full statutory language would specify the conditions, payment terms (if any), eligibility requirements, impact on benefits, and any interaction with existing NYSLERS rules.

Affected parties and potential impact

  • Primary affected person: Kristin Proud.
  • NYSLERS and its administering entities would implement the credit, with potential adjustments to benefits calculations for the named individual.
  • Potential fiscal impact would be tied to any change in the individual’s retirement benefit calculation and corresponding actuarial costs. Because the bill centers on a single person, statewide financial effects are likely limited, though actuarial implications would be evaluated for NYSLERS.

Procedural timeline and status

  • Introduced: May 14, 2025.
  • Legislative actions:
    • May 14, 2025: Referred to Civil Service and Pensions.
    • May 27, 2025: Reported and committed to Finance (listed twice in the record).
  • Current status: REPORTED AND COMMITTED TO FINANCE.
  • Sponsors: Primary—Jake Ashby; Cosponsor—Patricia Fahy.
  • Related/companion bill: A 8448 (companion), noted twice in the record.

Fiscal considerations

  • Since the bill affects a single individual’s retirement credit, any cost would depend on the extent of the service credit and its effect on lifetime benefits.
  • Administrative and actuarial implications would be handled by NYSLERS in implementing the credit.

Next steps for readers

  • Review the full text of S 7938 (and the companion A 8448) to understand the exact eligibility criteria, credit type, payment requirements (if any), and how the credit affects benefit computations.
  • Monitor committee reports from the Senate Finance Committee for any budgetary notes or fiscal impact statements.

Compiled from official sources — confirm details with the bill’s official record.

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