Senate Bill S8149

2019-2020 Legislative Session

Relates to primary social security retirement benefits for certain police/fire members

download bill text pdf

Sponsored By

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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2019-S8149 (ACTIVE) - Details

See Assembly Version of this Bill:
A10690
Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§505, 511 & 516, R & SS L
Versions Introduced in Other Legislative Sessions:
2021-2022: S6082, A6930
2023-2024: S5467, S7809, A5480

2019-S8149 (ACTIVE) - Summary

Relates to primary social security retirement benefits for certain police/fire members; provides that in the computation of the normal service retirement benefit of police/fire members who are members of the New York city fire department pension fund, there shall be no reduction for the primary social security retirement benefit.

2019-S8149 (ACTIVE) - Sponsor Memo

2019-S8149 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8149
 
                             I N  S E N A T E
 
                               April 8, 2020
                                ___________
 
 Introduced by Sen. GOUNARDES -- 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
   primary social security retirement benefits  for  certain  police/fire
   members
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 505 of the retirement and social security  law,  as
 amended  by  chapter  18  of  the  laws  of  2012, is amended to read as
 follows:
   § 505. Service retirement benefits; police/fire members, New York city
 uniformed correction/sanitation revised plan  members  and  investigator
 revised  plan  members.  a.  The  normal  service retirement benefit for
 police/fire  members,  New  York  city  uniformed  correction/sanitation
 revised  plan  members  and  investigator revised plan members at normal
 retirement age shall be a pension equal to fifty percent of final  aver-
 age salary, less fifty percent of the primary social security retirement
 benefit commencing at age sixty-two, as provided in section five hundred
 eleven  of  this article, PROVIDED, HOWEVER, THAT THE COMPUTATION OF THE
 NORMAL SERVICE RETIREMENT BENEFIT OF POLICE/FIRE MEMBERS WHO ARE MEMBERS
 OF THE NEW YORK CITY FIRE DEPARTMENT PENSION FUND, SHALL NOT BE  REDUCED
 BY  THE  PRIMARY  SOCIAL  SECURITY  RETIREMENT BENEFIT COMMENCING AT AGE
 SIXTY-TWO AS PROVIDED IN SECTION FIVE HUNDRED ELEVEN OF THIS ARTICLE.
   b. The early service retirement benefit for police/fire  members,  New
 York  city  uniformed  correction/sanitation  revised  plan  members and
 investigator revised plan members shall be a pension equal  to  two  and
 one-tenths  percent  of  final  average  salary  times years of credited
 service at the completion of twenty years of service or upon  attainment
 of age sixty-two, increased by one-third of one percent of final average
 salary  for  each month of service in excess of twenty years, but not in
 excess of fifty percent of final average salary, less fifty  percent  of
 the  primary social security retirement benefit commencing at age sixty-
 two as  provided  in  section  five  hundred  eleven  of  this  article,
 provided,  however, that New York city police/fire revised plan members,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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