Governor Kathy Hochul has just signed legislation, following approval through both the NY State Senate and the NY State Assembly, which improves the formula to calculate Tier 6 pensions. Whereas Tier 6 is still not as favorable overall as Tier 4 and other earlier pensions, at least they are both now calculated based upon the average salaries of your three best consecutive years. This is indeed very welcome news for those of us hired since 2012!

We are pleased to announce that State Senator Robert Jackson, the Chair of the Civil Service and Pensions Committee, has agreed to address us at our virtual June 20th CSBA Annual Meeting about the changes, what we can expect next, and to answer any questions you may have.