The New York City Council - File #: Int 0901-2018

• File #: Int 0901-2018
• Version: A
• Name: Establishing a retirement savings board to oversee the city’s retirement savings program for certain self-employed individuals and employees of private entities.
• Type: Introduction
• Status: Enacted
• File created: 5/9/2018
• In control: Committee on Civil Service and Labor
• On agenda: 5/9/2018
• Final action: 5/11/2021
• Title: A Local Law to amend the administrative code of the city of New York, in relation to establishing a retirement savings board to oversee the city's retirement savings program for certain self-employed individuals and employees of private entities, and setting forth powers of the comptroller and other provisions in relation to such program
• Sponsors: I. Daneek Miller, Ben Kallos, Helen K. Rosenthal, Margaret S. Chin, Farah N. Louis, Brad S. Lander, Antonio Reynoso, Paul A. Vallone, Daniel Dromm , Adrienne E. Adams, Alan N. Maisel, Diana I. Ayala, Robert E. Cornegy, Jr., Francisco P. Moya, Peter A. Koo, Inez D. Barron, Fernando Cabrera , Rafael Salamanca, Jr., Vanessa L. Gibson, Mark Gjonaj , Carlina Rivera
• Indexes: Agency Rule-making Required, Other Appointment Required, Report Required

Date	Ver.	Action By	Action	Result
5/11/2021	A	City Council	Recved from Mayor by Council
5/11/2021	A	Mayor	Signed Into Law by Mayor
5/11/2021	A	Mayor	Hearing Held by Mayor
4/29/2021	A	City Council	Sent to Mayor by Council
4/29/2021	A	City Council	Approved by Council	Pass
4/29/2021	*	Committee on Civil Service and Labor	Hearing Held by Committee
4/29/2021	*	Committee on Civil Service and Labor	Hearing Held by Committee
4/29/2021	*	Committee on Civil Service and Labor	Amendment Proposed by Comm
4/29/2021	*	Committee on Civil Service and Labor	Amendment Proposed by Comm
4/29/2021	*	Committee on Civil Service and Labor	Amended by Committee
4/29/2021	*	Committee on Civil Service and Labor	Amended by Committee
4/29/2021	A	Committee on Civil Service and Labor	Approved by Committee	Pass
9/23/2019	*	Committee on Civil Service and Labor	Hearing Held by Committee
9/23/2019	*	Committee on Civil Service and Labor	Hearing Held by Committee
9/23/2019	*	Committee on Civil Service and Labor	Laid Over by Committee
9/23/2019	*	Committee on Civil Service and Labor	Laid Over by Committee
5/9/2018	*	City Council	Referred to Comm by Council
5/9/2018	*	City Council	Referred to Comm by Council
5/9/2018	*	City Council	Introduced by Council
5/9/2018	*	City Council	Introduced by Council

Int. No. 901-A

By Council Members Miller, Kallos, Rosenthal, Chin, Louis, Lander, Reynoso, Vallone, Dromm, Adams, Maisel, Ayala, Cornegy, Moya, Koo, Barron, Cabrera, Salamanca, Gibson, Gjonaj and Rivera

Title
A Local Law to amend the administrative code of the city of New York, in relation to establishing a retirement savings board to oversee the city's retirement savings program for certain self-employed individuals and employees of private entities, and setting forth powers of the comptroller and other provisions in relation to such program
Body

Be it enacted by the Council as follows:

Section 1. Chapter 14 of title 20 of the administrative code of the city of New York, as added by a local law for the year 2021 amending the administrative code of the city of New York, relating to establishing a retirement savings program for certain self-employed individuals and employees of private entities, is amended by adding new sections 20-1402, 20-1405, 20-1406, 20-1408, 20-1410, and 20-1412 to read as follows:
? 20-1402 Establishment of the retirement savings board; membership.
? 20-1405 Powers of retirement savings board.
? 20-1406 Powers of the comptroller
? 20-1408 Rulemaking.
? 20-1410 No guarantees permitted; potential losses.
? 20-1412 Annual report and audit.
? 20-1402 Establishment of the retirement savings board; membership. a. There shall be a retirement savings board, which shall consist of three members. The members of the board shall be appointed by the mayor.
b. In making such appointments, the mayor may consider factors, including, but not limited to, the following:
1. Experience in the field of retirement plan administration;
2. Actuarial or demographics experience;
3. Representation of covered employees, other eligible individuals, or participants; and
4. Representation of covered employers, other eligible employers, or participating employers.
c. The mayor shall designate one member of the ...