Allows for NYSTRS retirees to change their retirement plan beneficiary to a spouse at any time either prior to or after retirement

This bill (A 3416) changes New York State Teachers' Retirement System (NYSTRS) rules to allow retirees to update their retirement benefits beneficiary to a spouse without time restrictions. Currently, retirees could only change beneficiaries within 30 days of retirement, but this bill removes that deadline specifically when designating a spouse as the beneficiary. It applies to all NYSTRS retirees (including those retired due to disability) and allows the change to be made at any point before or after retirement. The policy change simplifies the process for retirees to ensure their spouse receives benefits, without altering other beneficiary options.