A 10882·NY·house
Prohibits the use of investment managers in the New York state and local police and fire retirement system
In CommitteeFiled Apr 8, 2026
Sponsor: Jenifer Rajkumar
Latest Action
REFERRED TO GOVERNMENTAL EMPLOYEES
Apr 8, 2026
Summary
The bill amends New York’s retirement law to stop the state and local police and fire retirement system from contracting with any investment manager, except for managing real‑property holdings. It also bars the fund from renewing any existing investment‑manager contracts. The prohibition takes effect on Jan. 1 of the year after the law is enacted.
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