Assembly Bill A9496

2015-2016 Legislative Session

Provides a cost-of-living adjustment for members of retirement systems

download bill text pdf

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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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2015-A9496 (ACTIVE) - Details

See Senate Version of this Bill:
S6282
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
Versions Introduced in Other Legislative Sessions:
2017-2018: A6045, S3306
2019-2020: A7413, S5835
2021-2022: A8226
2023-2024: A6015

2015-A9496 (ACTIVE) - Summary

Provides a cost-of-living adjustment for members of retirement systems.

2015-A9496 (ACTIVE) - Bill Text download pdf

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

                                  9496

                          I N  A S S E M B L Y

                             March 10, 2016
                               ___________

Introduced  by M. of A. STECK -- 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 c 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:
  c. Said cost-of-living adjustment shall be computed on a base  benefit
amount  not to exceed eighteen thousand dollars of the annual retirement
allowance defined in subdivision b of this section.   EFFECTIVE  ON  THE
FIRST  DAY  OF  SEPTEMBER,  TWO  THOUSAND  SIXTEEN,  SAID COST-OF-LIVING
ADJUSTMENT SHALL BE COMPUTED ON A BASE  BENEFIT  AMOUNT  NOT  TO  EXCEED
TWENTY-FIVE  THOUSAND DOLLARS OF THE ANNUAL RETIREMENT ALLOWANCE DEFINED
IN SUBDIVISION B OF THIS SECTION.
  S 2. Subdivision c 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:
  c.  Said cost-of-living adjustment shall be computed on a base benefit
amount not to exceed eighteen thousand dollars of the annual  retirement
allowance  defined  in  subdivision b of this section.  EFFECTIVE ON THE
FIRST DAY  OF  SEPTEMBER,  TWO  THOUSAND  SIXTEEN,  SAID  COST-OF-LIVING
ADJUSTMENT  SHALL  BE  COMPUTED  ON  A BASE BENEFIT AMOUNT NOT TO EXCEED
TWENTY-FIVE THOUSAND DOLLARS OF THE ANNUAL RETIREMENT ALLOWANCE  DEFINED
IN SUBDIVISION B OF THIS SECTION.
  S  3. Subdivision c of section 532-a of the education law, as added by
chapter 125 of the laws of 2000, is amended to read as follows:
  c. Said cost-of-living adjustment shall be computed on a base  benefit
amount  not to exceed eighteen thousand dollars of the annual retirement
allowance defined in subdivision b of this section.   EFFECTIVE  ON  THE
FIRST  DAY  OF  SEPTEMBER,  TWO  THOUSAND  SIXTEEN,  SAID COST-OF-LIVING
ADJUSTMENT SHALL BE COMPUTED ON A BASE  BENEFIT  AMOUNT  NOT  TO  EXCEED

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

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