Provides temporary retirement incentive for certain public employees

This bill allows New York school districts and related educational employers to offer a temporary retirement incentive to specific public employees. To qualify, eligible teachers and administrators must be at least 55 years old and have completed at least 25 years of service in the state teachers' retirement system. If an employer chooses to participate, these employees can retire during a designated open period without the usual reduction in their pension benefits that typically applies to early retirement. The costs for these additional benefits are shared by employers over a five-year period starting in the 2026 fiscal year, and the program is explicitly limited to those who meet the age and service requirements during the specified time frame.