What's happening
This bill adds a school business official as an eleventh member to the New York State Teachers' Retirement System Board.
Why it matters
Increases representation of financial expertise. on the Teachers' Retirement System Board by adding a school business official, which could lead to more informed decisions about pension fund management and school finance matters.
Gives school business officials a formal voice. in retirement system governance, potentially ensuring that administrative and budgetary perspectives are considered alongside those of teachers and administrators.
Requires the new board member to be elected from a vetted list. provided by the Association of School Business Officials of New York, ensuring the candidate brings recognized qualifications and relevant experience in school finance.
May impact policy decisions affecting school funding and retirement benefits. , as the new member could advocate for administrative efficiencies or fiscal sustainability that affect both educators and taxpayers.
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Who cares
School business officials
The bill would add a currently serving, duly appointed school business official to the TRS Board for a three-year term.
Association of School Business Officials of New York
Its board of directors would submit at least five candidates with broad school finance experience and ability for the new seat.
New York State Board of Regents
The Regents would elect the new member from the association’s candidate list.
Teachers’ Retirement System Board
The bill would expand the board from 10 to 11 members, adding a designated school business official seat.
Headline styles
Add Business Official to TRS
Plain English, a few words. Used as the page title.
Sponsors
3 Co-sponsors
History
- Referred to education
- Referred to education
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
469
2025-2026 Regular Sessions
IN ASSEMBLY (Prefiled)
January 8, 2025
Introduced by M. of A. PAULIN, McDONOUGH, SAYEGH, DeSTEFANO -- read once and referred to the Committee on Education
AN ACT to amend the education law, in relation to adding a school business official to the Teachers' Retirement System (TRS) Board
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The opening paragraph of subdivision 2 of section 504 of the education law, as amended by chapter 873 of the laws of 1984, is amended and a new paragraph g is added to read as follows:
The retirement board shall consist of [ten] eleven members as follows.
g. One member, who currently works as a duly appointed school business official, who is elected by the board of regents of the university of the state of New York to serve for a term of three years, from a list of five or more persons having broad experience and ability in the field of school finance to be presented to the regents by the board of directors of the association of school business officials of New York.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02029-01-5
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.