Retirement System, Calculating Contributions (S.8099, A.11383)

Communication from the Mayor - "AN ACT to amend the administrative code of the city of New York, in relation to the rate of regular interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retirement system, the police pension fund, subchapter two, the fire department pension fund, subchapter two and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the making of contributions to such retirement systems by such public employers and other obligors, including contributions for the purpose of amortizing certain unfunded accrued liabilities of such retirement systems, and the crediting of special interest and additional interest to members of such retirement systems, and the allowance of supplementary interest on the funds of such retirement systems; to repeal paragraph one of subdivision k of section 13-638.2 of such code and subdivision l of such section, relating to certain funding adjustments where actuarial assumptions are changed; and to amend the education law, in relation to employer contributions to the board of education retirement system of such city." S.8099/A.11383