NY State Assembly Bill 2009-A7121

Archive: Last Bill Status - In Assembly Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 27, 2010	print number 7121a
Jan 27, 2010	amend and recommit to governmental employees
Jan 06, 2010	referred to governmental employees
Mar 20, 2009	referred to governmental employees

Bill Amendments

Original

A (Active)

2009-A7121 - Details

Current Committee:: Assembly Governmental Employees
Law Section:: Retirement and Social Security Law
Laws Affected:: Amd §§78-a & 378-a, R & SS L; amd §532-a, Ed L; amd §13-696, NYC Ad Cd

2009-A7121 - Summary

Provides cost-of-living adjustments; further provides that effective the first day of September, 2010, the cost-of-living percentage shall equal one hundred percent of the annual inflation.

2009-A7121 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7121

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             March 20, 2009
                               ___________

Introduced  by  M.  of  A.  SCHROEDER  --  read once and referred to the
  Committee on Governmental Employees

AN ACT to amend the retirement and social security  law,  the  education
  law  and  the administrative code of the city of New York, in relation
  to providing cost-of-living adjustments

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Subdivision d of section 78-a of the retirement and social
security law, as added by chapter 125 of the laws of 2000, is amended to
read as follows:
  d. The percentage referred to in  this  section  shall  be  determined
annually  by reference to the consumer price index (all urban consumers,
CPI-U, U.S. city average, all  items,  1982-84=100),  published  by  the
United  States  bureau of labor statistics, for each applicable calendar
year. Said percentage shall equal fifty percent of the annual inflation,
AND EFFECTIVE THE FIRST DAY OF SEPTEMBER, TWO THOUSAND NINE SHALL  EQUAL
ONE  HUNDRED  PERCENT  OF  THE  ANNUAL INFLATION, as determined from the
increase in the consumer price index in the one year  period  ending  on
the  March thirty-first prior to the cost-of-living adjustment effective
on the ensuing September first. Said percentage shall then be rounded up
to the next higher one-tenth of one percent and shall not  exceed  three
percent nor be less than one percent.
  S 2. Subdivision d of section 378-a of the retirement and social secu-
rity  law,  as  added  by chapter 125 of the laws of 2000, is amended to
read as follows:
  d. The percentage referred to in  this  section  shall  be  determined
annually  by reference to the consumer price index (all urban consumers,
CPI-U, U.S. city average, all  items,  1982-84=100),  published  by  the
United  States  bureau of labor statistics, for each applicable calendar
year. Said percentage shall equal fifty percent of the annual inflation,
AND EFFECTIVE THE FIRST DAY OF SEPTEMBER, TWO THOUSAND NINE SHALL  EQUAL

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05613-03-9

A. 7121                             2

ONE  HUNDRED  PERCENT  OF  THE  ANNUAL INFLATION, as determined from the
increase in the consumer price index in the one year  period  ending  on
the  March thirty-first prior to the cost-of-living adjustment effective
on the ensuing September first. Said percentage shall then be rounded up
to  the  next higher one-tenth of one percent and shall not exceed three
percent nor be less than one percent.
  S 3. Subdivision d of section 532-a of the education law, as added  by
chapter 125 of the laws of 2000, is amended to read as follows:
  d.  The  percentage  referred  to  in this section shall be determined
annually by reference to the consumer price index (all urban  consumers,
CPI-U,  U.S.  city  average,  all  items, 1982-84=100), published by the
United States bureau of labor statistics, for each  applicable  calendar
year. Said percentage shall equal fifty percent of the annual inflation,
AND  EFFECTIVE THE FIRST DAY OF SEPTEMBER, TWO THOUSAND NINE SHALL EQUAL
ONE HUNDRED PERCENT OF THE ANNUAL  INFLATION,  as  determined  from  the
increase  in  the  consumer price index in the one year period ending on
the March thirty-first prior to the cost-of-living adjustment  effective
on the ensuing September first. Said percentage shall then be rounded up
to  the  next higher one-tenth of one percent and shall not exceed three
percent nor be less than one percent.
  S 4. Subdivision d of section 13-696 of the administrative code of the
city of New York, as added by chapter  125  of  the  laws  of  2000,  is
amended to read as follows:
  d.  The  percentage  referred  to  in this section shall be determined
annually by reference to the consumer price index (all urban  consumers,
CPI-U,  U.S.  city  average,  all  items, 1982-84=100), published by the
United States bureau of labor statistics, for each  applicable  calendar
year. Said percentage shall equal fifty percent of the annual inflation,
AND  EFFECTIVE THE FIRST DAY OF SEPTEMBER, TWO THOUSAND NINE SHALL EQUAL
ONE HUNDRED PERCENT OF THE ANNUAL  INFLATION,  as  determined  from  the
increase  in  the  consumer price index in the one year period ending on
the March thirty-first prior to the cost-of-living adjustment  effective
on the ensuing September first. Said percentage shall then be rounded up
to  the  next higher one-tenth of one percent and shall not exceed three
percent nor be less than one percent.
  S 5. This act shall take effect immediately.
  FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
  This bill would provide an increase in the  defined  benefit  cost-of-
living  adjustment (COLA) for New York public retirement systems. Start-
ing with a payment in September 2009 the cost-of-living adjustment  will
be  increased  from fifty percent of the annual inflation to one hundred
percent of the annual inflation, not to exceed an annual increase of 3%.
  Insofar as this bill affects the New York State and  Local  Employees'
Retirement  System  and  the  New  York  State and Local Police and Fire
Retirement System, if this bill were enacted there would be an estimated
first year cost of approximately $300 million to the State of New  York,
$410  million to participating employers in the New York State and Local
Employees' Retirement  System  and  $50  million  to  the  participating
employers  in  the  New  York State and Local Police and Fire Retirement
System.
  This estimate, dated December 1, 2008 and intended for use only during
the 2009 Legislative Session, is Fiscal Note No.  2009-63,  prepared  by
the  Actuary  for  the  New  York  State and Local Employees' Retirement
System and the New York State  and  Local  Police  and  Fire  Retirement
System.

2009-A7121A (ACTIVE) - Details

Current Committee:: Assembly Governmental Employees
Law Section:: Retirement and Social Security Law
Laws Affected:: Amd §§78-a & 378-a, R & SS L; amd §532-a, Ed L; amd §13-696, NYC Ad Cd

2009-A7121A (ACTIVE) - Summary

Provides cost-of-living adjustments; further provides that effective the first day of September, 2010, the cost-of-living percentage shall equal one hundred percent of the annual inflation.

2009-A7121A (ACTIVE) - Sponsor Memo

                                BILL NUMBER:A7121A

TITLE  OF BILL:  An act to amend the retirement and social security law,
the education law and the administrative code of the city of  New  York,
in relation to providing cost-of-living adjustments

PURPOSE:    This  bill amends Chapter 125 of the Laws of 2000, a chapter
which provides public employee retirees with permanent partial  cost-of-
living  increases  in  New  York  State.  This bill provides a desirable
amendment to Chapter 125 needed to protect public retirees from  contin-
ued  erosion  of  their retirement income from inflation.  While chapter
125 began the effort to address  pension  erosion  this  bill  seeks  to
partially close that gap.

SUMMARY  OF  SPECIFIC  PROVISIONS:    Effective  September  1, 2007, the
following changes to section 78-a and 378-a of the Retirement and Social
Security Law, Section 532-a of the Education Law, and Section 13-196  of
the  Administrative Code of the City of New York as added by chapter 125
of the Laws of 2000 are proposed: Subdivision d of said sections of  law
is  amended  by  this  bill  to  increase  the percentage of annual COLA
increases from 50% of the CPI to 100% of the CPI. The  general  cost-of-
living  of retirees has been steadily increasing. In particular, medical
costs including co-payments, premiums, and medication, have been  rising
at  a  rate  far  in excess of the CPI. Recent federal amendments to the
Medicare Law, especially the prescription drug coverage,  will  cause  a
significant increase in retired public employee health care costs.

JUSTIFICATION:    Significant  strides were made by the enactment of the
Chapter 125 of the Laws of 2000. However, with  eligibility  to  receive
more  than  50  percent  of  the CPI limited to those who retired before
1968, with 100 percent of CPI only available to those who retired  prior
to 1961.  Obviously we are talking about retirees of very advanced years
and  a  very  small  number  of the total number of retirees eligible to
receive COLA under chapter 125. This bill adds only to those who retired
prior to 1966, 38 years ago. Members of  the  Retired  Public  Employees
Association, the Retired Teachers Association and the Alliance of Public
Retiree  Associations of New York believe this bill will help assure our
oldest public retirees achieve a dignified and secure retirement, allow-
ing them to continue to contribute more  effectively  to  the  long-term
health of our economy.

LEGISLATIVE  HISTORY:  2009: S.1809 - Referred to Civil Service / A.7121
- Referred to Governmental Employees.
2008: S.7861 - Referred to Civil Service / A.8376 - Referred to  Govern-
mental Employees.
2006:  S.4457  - Referred to Civil Service & Pensions /A.7238 - Referred
to Gov. Employees.
2005: S.4457 - Referred to Civil Service & Pensions /A.7238  -  Referred
to Gov. Employees.
2004: A.10827 - Referred to Governmental Employees.

FISCAL  IMPLICATIONS:    Starting  with  a payment in September 2010 the
cost-of-living adjustment will be increased from fifty  percent  of  the
annual  inflation to one hundred percent of the annual inflation, not to
exceed an annual increase of 3%. There would be an estimated first  year
cost  of  approximately  $310  million  to  the  State of New York, $415
million to participating employers in  the  New  York  State  and  Local
Employees'  Retirement  System  and  $50  million  to  the participating
employers in the New York State and Local  Police  and  Fire  Retirement
System.

EFFECTIVE DATE: Immediately.

2009-A7121A (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 7121--A

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             March 20, 2009
                               ___________

Introduced  by  M.  of  A.  SCHROEDER  --  read once and referred to the
  Committee on Governmental Employees -- recommitted to the Committee on
  Governmental Employees in accordance with Assembly Rule 3, sec.  2  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the retirement and social security  law,  the  education
  law  and  the administrative code of the city of New York, in relation
  to providing cost-of-living adjustments

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Subdivision d of section 78-a of the retirement and social
security law, as added by chapter 125 of the laws of 2000, is amended to
read as follows:
  d. The percentage referred to in  this  section  shall  be  determined
annually  by reference to the consumer price index (all urban consumers,
CPI-U, U.S. city average, all  items,  1982-84=100),  published  by  the
United  States  bureau of labor statistics, for each applicable calendar
year. Said percentage shall equal fifty percent of the annual inflation,
AND EFFECTIVE THE FIRST DAY OF SEPTEMBER, TWO THOUSAND TEN  SHALL  EQUAL
ONE  HUNDRED  PERCENT  OF  THE  ANNUAL INFLATION, as determined from the
increase in the consumer price index in the one year  period  ending  on
the  March thirty-first prior to the cost-of-living adjustment effective
on the ensuing September first. Said percentage shall then be rounded up
to the next higher one-tenth of one percent and shall not  exceed  three
percent nor be less than one percent.
  S 2. Subdivision d of section 378-a of the retirement and social secu-
rity  law,  as  added  by chapter 125 of the laws of 2000, is amended to
read as follows:
  d. The percentage referred to in  this  section  shall  be  determined
annually  by reference to the consumer price index (all urban consumers,
CPI-U, U.S. city average, all  items,  1982-84=100),  published  by  the
United  States  bureau of labor statistics, for each applicable calendar
year. Said percentage shall equal fifty percent of the annual inflation,
AND EFFECTIVE THE FIRST DAY OF SEPTEMBER, TWO THOUSAND TEN  SHALL  EQUAL

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05613-05-0

A. 7121--A                          2

ONE  HUNDRED  PERCENT  OF  THE  ANNUAL INFLATION, as determined from the
increase in the consumer price index in the one year  period  ending  on
the  March thirty-first prior to the cost-of-living adjustment effective
on the ensuing September first. Said percentage shall then be rounded up
to  the  next higher one-tenth of one percent and shall not exceed three
percent nor be less than one percent.
  S 3. Subdivision d of section 532-a of the education law, as added  by
chapter 125 of the laws of 2000, is amended to read as follows:
  d.  The  percentage  referred  to  in this section shall be determined
annually by reference to the consumer price index (all urban  consumers,
CPI-U,  U.S.  city  average,  all  items, 1982-84=100), published by the
United States bureau of labor statistics, for each  applicable  calendar
year. Said percentage shall equal fifty percent of the annual inflation,
AND  EFFECTIVE  THE FIRST DAY OF SEPTEMBER, TWO THOUSAND TEN SHALL EQUAL
ONE HUNDRED PERCENT OF THE ANNUAL  INFLATION,  as  determined  from  the
increase  in  the  consumer price index in the one year period ending on
the March thirty-first prior to the cost-of-living adjustment  effective
on the ensuing September first. Said percentage shall then be rounded up
to  the  next higher one-tenth of one percent and shall not exceed three
percent nor be less than one percent.
  S 4. Subdivision d of section 13-696 of the administrative code of the
city of New York, as added by chapter  125  of  the  laws  of  2000,  is
amended to read as follows:
  d.  The  percentage  referred  to  in this section shall be determined
annually by reference to the consumer price index (all urban  consumers,
CPI-U,  U.S.  city  average,  all  items, 1982-84=100), published by the
United States bureau of labor statistics, for each  applicable  calendar
year. Said percentage shall equal fifty percent of the annual inflation,
AND  EFFECTIVE  THE FIRST DAY OF SEPTEMBER, TWO THOUSAND TEN SHALL EQUAL
ONE HUNDRED PERCENT OF THE ANNUAL  INFLATION,  as  determined  from  the
increase  in  the  consumer price index in the one year period ending on
the March thirty-first prior to the cost-of-living adjustment  effective
on the ensuing September first. Said percentage shall then be rounded up
to  the  next higher one-tenth of one percent and shall not exceed three
percent nor be less than one percent.
  S 5. This act shall take effect immediately.
  FISCAL NOTE.-- This bill would provide  an  increase  in  the  defined
benefit  cost-of-living adjustment (COLA) for New York public retirement
systems.  Starting with a payment in September 2010 the cost  of  living
adjustment  will be increased from fifty percent of the annual inflation
to one hundred percent of the annual inflation, not to exceed an  annual
increase of 3%.
  Insofar  as  this bill affects the New York State and Local Employees'
Retirement System and the New York  State  and  Local  Police  and  Fire
Retirement System, if this bill were enacted there would be an estimated
first  year cost of approximately $310 million to the State of New York,
$415 million to participating employers in the New York State and  Local
Employees'  Retirement  System  and  $50  million  to  the participating
employers in the New York State and Local  Police  and  Fire  Retirement
System.
  This estimate, dated December 1, 2009 and Intended for use only during
the  2010  Legislative  Session, is Fiscal Note No. 2010-29, prepared by
the Actuary for the New  York  State  and  Local  Employees'  Retirement
System  and  the  New  York  State  and Local Police and Fire Retirement
System.

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Assembly Bill A7121

Sponsored By

Archive: Last Bill Status - In Assembly Committee

Actions

Bill Amendments

2009-A7121 - Details

2009-A7121 - Summary

2009-A7121 - Bill Text download pdf

2009-A7121A (ACTIVE) - Details

2009-A7121A (ACTIVE) - Summary

2009-A7121A (ACTIVE) - Sponsor Memo

2009-A7121A (ACTIVE) - Bill Text download pdf

Comments

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Assembly Bill A7121

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SCHROEDER

Archive: Last Bill Status - In Assembly Committee

Actions

Bill Amendments

2009-A7121 - Details

2009-A7121 - Summary

2009-A7121 - Bill Text download pdf

2009-A7121A (ACTIVE) - Details

2009-A7121A (ACTIVE) - Summary

2009-A7121A (ACTIVE) - Sponsor Memo

2009-A7121A (ACTIVE) - Bill Text download pdf

Comments