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Senate Bill S7662

2015-2016 Legislative Session

Grants service credit to members of the uniformed correction force of the New York city department of correction covered by provisions of law for over 25 years

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee

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2015-S7662 (ACTIVE) - Details

Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd ยง504, R & SS L

2015-S7662 (ACTIVE) - Summary

Grants service credit to members of the uniformed correction force of the New York city department of correction covered by provisions of law with over 25 years of service.

2015-S7662 (ACTIVE) - Sponsor Memo

2015-S7662 (ACTIVE) - Bill Text download pdf 

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

                                  7662

                            I N  S E N A T E

                              May 12, 2016
                               ___________

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, in  relation  to
  retirement  benefits  for  general members in the uniformed correction
  force of the New York city department of correction

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

  Section  1.  Subdivision d of section 504 of the retirement and social
security law, as amended by chapter 18 of the laws of 2012,  is  amended
to read as follows:
  d.  The  early  service  retirement benefit for general members in the
uniformed  correction  force  of  the  New  York  city   department   of
correction,  who are not entitled to an early service retirement benefit
pursuant to subdivision c of section five hundred four-a of this article
or subdivision c of section five  hundred  four-b  of  this  article  or
subdivision  c  of  section  five hundred four-d of this article, or for
general members in the uniformed personnel  in  institutions  under  the
jurisdiction of the department of corrections and community supervision,
as  defined  in  subdivision  i  of section eighty-nine of this chapter,
shall be a pension equal to one-fiftieth of final average  salary  times
years  of  credited  service  at  the completion of twenty-five years of
service, [but not in excess of fifty percent of  final  average  salary]
PLUS  FOR  EACH  YEAR  OF  CREDITED  SERVICE  IN  EXCESS OF TWENTY-FIVE,
ONE-SIXTIETH OF  FINAL  AVERAGE  SALARY,  provided,  however,  that  the
provisions  of this section shall not apply to a New York city uniformed
correction/sanitation revised plan member; AND FURTHER PROVIDED THAT THE
MAXIMUM PENSION PAYABLE PURSUANT TO THIS SUBDIVISION  SHALL  EQUAL  THAT
PAYABLE UPON COMPLETION OF THIRTY YEARS OF SERVICE.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15332-01-6

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