NY State Senate Bill 2017-S6050

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions 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 03, 2018	referred to civil service and pensions
May 10, 2017	referred to civil service and pensions

co-Sponsors

2017-S6050 (ACTIVE) - 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

2017-S6050 (ACTIVE) - Summary

Relates to providing increases of cost-of-living adjustments; allows increases of up to five percent.

2017-S6050 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S6050

 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 OR GENERAL IDEA OF BILL :

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 amendment to Chapter 125 needed to protect public retirees
from continued 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 SPECIFIC PROVISIONS :

Effective September 1, 2006, 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 d of said sections of law is amended by this bill to
increase the maximum percentage of the CPI for COLA benefits from not

more than 3% and not less than 1% of CPI to not more than 5% and not
less than 1% of CPI. The general cost-of-living for retirees has been
steadily increasing. In particular, medical costs including
co-payments, premiums, and medication, have risen 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 Chapter 125 of the
Laws of 2001. While the CPI has remained very modest since the
enactment of COLA, as noted above other costs have had a significant
impact on retiree security. For example, 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, are likely to cause a
significant increase in retired public employee health care costs.
This modest increase in the maximum percentage of the CPI for COLA
benefits will provide needed but modest protection for retirees in the
event the CPI exceeds 3%.

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

 PRIOR LEGISLATIVE HISTORY :

2007-08: A8448 - referred to Assembly Governmental Employees
Committee.

 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS :

See Fiscal Note attached to bill.

 EFFECTIVE DATE :
This act shall take effect immediately.

2017-S6050 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6050
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 10, 2017
                                ___________
 
 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 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,
 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  AND  EFFEC-
 TIVE  THE  FIRST  DAY  OF  SEPTEMBER,  TWO THOUSAND SEVENTEEN, SHALL NOT
 EXCEED FIVE PERCENT NOR BE LESS THAN ONE PERCENT.
   § 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,
 as  determined  from the increase in the consumer price index in the one
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD11290-01-7

 S. 6050                             2
 
 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 AND EFFEC-
 TIVE THE FIRST DAY OF  SEPTEMBER,  TWO  THOUSAND  SEVENTEEN,  SHALL  NOT
 EXCEED FIVE PERCENT NOR BE LESS THAN ONE PERCENT.
   §  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,
 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  AND  EFFEC-
 TIVE  THE  FIRST  DAY  OF  SEPTEMBER,  TWO THOUSAND SEVENTEEN, SHALL NOT
 EXCEED FIVE PERCENT NOR BE LESS THAN ONE PERCENT.
   § 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,
 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 AND EFFEC-
 TIVE THE FIRST DAY OF  SEPTEMBER,  TWO  THOUSAND  SEVENTEEN,  SHALL  NOT
 EXCEED FIVE PERCENT NOR BE LESS THAN ONE PERCENT.
   § 5. This act shall take effect immediately.

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Senate Bill S6050

Sponsored By

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

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co-Sponsors

2017-S6050 (ACTIVE) - Details

2017-S6050 (ACTIVE) - Summary

2017-S6050 (ACTIVE) - Sponsor Memo

2017-S6050 (ACTIVE) - Bill Text download pdf

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Sponsored By

Martin J. Golden

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

Actions

co-Sponsors

Marisol Alcantara

Tony Avella

Jose Peralta

Luis R. Sepúlveda

2017-S6050 (ACTIVE) - Details

2017-S6050 (ACTIVE) - Summary

2017-S6050 (ACTIVE) - Sponsor Memo

2017-S6050 (ACTIVE) - Bill Text download pdf

Comments