|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 01, 2019||referred to civil service and pensions|
senate Bill S5435
Current Bill Status - In Senate Committee Civil Service And Pensions Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S5435 (ACTIVE) - Details
S5435 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5435 SPONSOR: GOUNARDES TITLE OF BILL: 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 PURPOSE OR GENERAL IDEA OF BILL: Grants service credit to members of the uniformed correction force of the NYC Department of Correction covered by provisions of law for over 25 years. SUMMARY OF PROVISIONS: This bill amends subdivision d of section 504 of the retirement and social security law as amended by chapter 18 of the laws of 2012 adding language plus one-sixtieth of final average salary times years of cred- ited service in excess of twenty-five.
S5435 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5435 2019-2020 Regular Sessions I N S E N A T E May 1, 2019 ___________ 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 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 ONE-SIXTIETH OF FINAL AVERAGE SALARY TIMES YEARS OF CREDITED SERVICE IN EXCESS OF TWENTY-FIVE, provided, however, that the provisions of this section shall not apply to a New York city uniformed correction/sanitation revised plan member. § 2. This act shall take effect immediately. FISCAL NOTE.-- Pursuant to Legislative Law, Section 50: SUMMARY OF BILL: This proposed legislation would amend Retirement and Social Security Law (RSSL) Section 504 to modify the service retirement benefit calculation formula for uniformed employees of the New York City EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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