senate Bill S6787

2013-2014 Legislative Session

Relates to providing cost-of-living adjustments

download bill text pdf

Sponsored By

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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view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 11, 2014 referred to civil service and pensions

S6787 - Details

Current Committee:
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

S6787 - Summary

Provides cost-of-living adjustments, including an adjusted benefit in monthly installments that is equal to the percentage of the change in consumer price index according to the included schedule.

S6787 - Sponsor Memo

S6787 - Bill Text download pdf

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


                            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


  Section  1. Subdivision f 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:
  f. Commencing September first, two thousand, all retired  members  who
have  retired  prior  to the calendar year nineteen hundred ninety-seven
and who meet the eligibility criteria set forth in subdivision a of this
section shall be paid an adjusted benefit in monthly installments on the
basis provided for in this subdivision. Said adjusted benefit  shall  be
equal  to  a percentage of the change in 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, measured from the year
of  retirement  through  calendar  year  nineteen  hundred  ninety-seven
according to the following schedule:

      Year of retirement                     Percentage
      1968 through 1996                      50%
      1966 and 1967                          55%
      1965                                   60%
      1964                                   65%
      1963                                   70%
      1962                                   80%
      1961                                   90%
      prior to 1961                          100%
Said  adjusted benefit shall be computed on a base benefit amount not to
exceed eighteen thousand dollars of the retirement  allowance  otherwise
payable,  computed  without  optional modification. Any benefit received

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


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