senate Bill S6785

2013-2014 Legislative Session

Relates to applying cost-of-living adjustments

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Senate Actions - UPPERCASE
Mar 11, 2014 referred to civil service and pensions

S6785 - Bill Details

Current Committee:
Senate Civil Service And Pensions
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

S6785 - Bill Texts

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Provides a cost-of-living adjustment for New York public retirement systems.

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BILL NUMBER:S6785

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. The bill provides a desirable amend-
ment to chapter 125 needed to protect public retirees from continues
erosion of their retirement income from inflation. While chapter 125
began the effort to address pension erosion, this bill seeks to further
close that gap.

SUMMARY OF PROVISIONS: Effective September 1, 2014, the following
changes to sections 78-a and 378-a of the Retirement and Social Security
Law, Section 532-a of the Education Law, and Section 13-396 of the
Administrative Code of the City of New York as added by Chapter 125 of
the laws of 2000 are proposed: Subdivision a of the above sections of
law presently sets forth the age eligibility for receiving COLA as age
62 and retired five years or age 55 and retired ten years. This bill
would revise the age of eligibility for COLA to age 55 and retired 5
years.

JUSTIFICATION: The eligibility age limitations and built in minimum 5-
year wait for COLA, has the further impact of eroding benefits. Stand-
ardizing the age of eligibility for COLA to age 55 and retired 5 years
provides another means to afford retirees with a safer and more digni-
fied retirement, reducing the impact of inflation. This change would
provide police and fire personnel in the State of New York with a gener-
ally shorter waiting period for cost-of-living benefits, since many
police and fire personnel retire before their 62nd birthday based upon
statute and the generally more hazardous jobs they perform for the
public.

This bill will help assure public retirees achieve a dignified and
secure retirement, allowing them to continue to contribute more effec-
tively to the longterm health of our economy.

LEGISLATIVE HISTORY: 2007-08: A8378 - referred to Governmental employ-
ees 2005-06: A7239 - referred to Governmental employees 2004: A10824 -
Governmental employees 2003: A4146 - Governmental employees 2000: S8180,
enacted - Chapter 125, Laws of 2000.

FISCAL IMPLICATIONS: See fiscal notes submitted with and made a part of
this bill.

EFFECTIVE DATE: This act shall take effect immediately.

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

                                  6785

                            I N  S E N A T E

                             March 11, 2014
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions

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 a 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:
  a. [A] EFFECTIVE ON THE FIRST DAY OF SEPTEMBER, TWO THOUSAND FOURTEEN,
A cost-of-living adjustment shall be payable on the basis  provided  for
in this section to: (i) all pensioners who have attained age [sixty-two]
FIFTY-FIVE  and  have  been retired for five years; (ii) [all pensioners
who have attained age fifty-five and have been retired  for  ten  years;
(iii)] all disability pensioners regardless of age who have been retired
for  five  years; and [(iv)] (III) all recipients of an accidental death
benefit regardless of age who have been receiving such benefit for  five
years.
  S 2. Subdivision a 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:
  a. [A] EFFECTIVE ON THE FIRST DAY OF SEPTEMBER, TWO THOUSAND FOURTEEN,
A cost-of-living adjustment shall be payable on the basis  provided  for
in this section to: (i) all pensioners who have attained age [sixty-two]
FIFTY-FIVE  and have been retired for five years; AND (ii) [all pension-
ers who have attained age fifty-five  and  have  been  retired  for  ten
years;  and  (iii)] all disability pensioners regardless of age who have
been retired for five years.
  S 3. Subdivision a of section 532-a of the education law, as added  by
chapter 125 of the laws of 2000, is amended to read as follows:
  a. [A] EFFECTIVE ON THE FIRST DAY OF SEPTEMBER, TWO THOUSAND FOURTEEN,
A  cost-of-living  adjustment shall be payable on the basis provided for
in this section to: (i) all pensioners who have attained age [sixty-two]

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14308-01-4

S. 6785                             2

FIFTY-FIVE and have been retired for five years;  (ii)  [all  pensioners
who  have  attained  age fifty-five and have been retired for ten years;
(iii)] all disability pensioners regardless of age who have been retired
for  five  years; and [(iv)] (III) all recipients of an accidental death
benefit regardless of age who have been receiving such benefit for  five
years.
  S 4. Subdivision a of section 13-696 of the administrative code of the
city  of  New  York,  as  amended by chapter 288 of the laws of 2001, is
amended to read as follows:
  a. [A] EFFECTIVE ON THE FIRST DAY OF SEPTEMBER, TWO THOUSAND FOURTEEN,
A cost-of-living adjustment shall be payable to retired members  of  the
New  York city employees' retirement system, the New York city teachers'
retirement system, the New York city police pension fund, the  New  York
city  fire department pension fund, the New York city board of education
retirement system or the relief and pension fund of  the  department  of
street  cleaning  provided  for in subchapter one of this chapter on the
basis provided for in this section to: (i) all retired members who  have
attained  age  [sixty-two]  FIFTY-FIVE  and  have  been retired for five
years; (ii) [all retired members who have attained  age  fifty-five  and
have  been  retired  for  ten  years; (iii)] all members who retired for
disability regardless of age who have been retired for five  years;  and
[(iv)] (III) all recipients of an accidental death benefit regardless of
age who have been receiving such benefit for five years.
  S 5. This act shall take effect immediately.

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