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A 7975

Establishes an optional twenty-five year retirement plan for certain employees of the New York Power Authority

2025 Regular Session Introduced by Billy Jones

Optional 25-year retirement plan for certain NYPA employees; enacting clause was stricken, so it did not become law this session.

ENACTING CLAUSE STRICKEN
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Bill Summary · A 7975

Summary of New York Bill A 7975

Title and Purpose

  • Bill Number: A 7975
  • Official Title: Establishes an optional twenty-five year retirement plan for certain employees of the New York Power Authority
  • Primary Sponsor: Billy Jones
  • Purpose (as introduced): Create an optional retirement option allowing certain New York Power Authority (NYPA) employees to retire after 25 years of service. The bill would establish a separate retirement option distinct from existing NYPA retirement provisions.

Status and Legislative Timeline

  • Introduced: April 16, 2025
  • Key Actions:
    • April 16, 2025: Referred to Governmental Employees
    • May 23, 2025: Amended and recomitted to Governmental Employees; Print Number 7975A
    • May 28, 2025: Reported as referred to Ways and Means
    • September 8, 2025: Enacting clause stricken (twice noted in actions)
  • Current Status: ENACTING CLAUSE STRICKEN. This indicates the bill did not become law in its current form, as the portion of the bill that would enact the law into statute was removed.
  • Related/Companion: S 7378 (companion in the Senate)

What the Bill Would Do (Key Provisions)

  • Establishment of an Optional Plan: The bill would create an optional twenty-five-year retirement plan specifically for certain NYPA employees.
  • Eligibility and Scope: The text publicly available does not specify precise eligibility criteria (e.g., which employee classes, tenure requirements, or job classifications). The plan would apply to “certain employees,” with details likely to be defined in the implementing provisions or through accompanying regulations.
  • Administration and Funding (Not Specified in Available Text): The bill’s available content does not provide details on:
    • Which entity would administer the plan (e.g., NYPA, a state retirement system, or a separate administrator)
    • How the plan would be funded (employer contributions, employee contributions, or actuarial funding requirements)
    • Benefit formulas, accrual rates, cost-of-living adjustments, or early-retirement protections
    • Interaction with existing NYPA pension and retirement benefits

Who Would be Affected

  • Primary Beneficiaries: Certain NYPA employees who would participate in the optional 25-year retirement plan.
  • Other Stakeholders: NYPA’s human resources and pension administration functions; potentially the state budget and actuarial offices if the plan impacts costs or funding requirements.

Procedural and Timeline Considerations

  • The bill progressed through initial committee referrals (Governmental Employees, then Ways and Means) and produced a titled version (7975A) but ultimately had its enacting clause stricken. This means the legislation did not take effect and did not become law in this session.
  • The companion Senate bill (S 7378) exists, indicating parallel consideration in the Senate.

Practical Implications

  • If enacted in a future session, the bill would create a new optional retirement track for NYPA employees, potentially affecting retirement timing, benefits, and employer/employee costs. Details on eligibility, benefit design, funding, and administration would determine the plan’s overall fiscal and workforce impact.

Note: Given the enclosing status, no statutory changes would take effect unless the enacting clause is restored and the bill is enacted in a subsequent session.

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

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