senate Bill S5660A

2019-2020 Legislative Session

Relates to calculating certain pensions

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Civil Service And Pensions Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 26, 2020 print number 5660a
Mar 26, 2020 amend and recommit to civil service and pensions
Jan 08, 2020 referred to civil service and pensions
May 10, 2019 referred to civil service and pensions

S5660 - Details

Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§504, 604, 516 & 1312, R & SS L

S5660 - Summary

Relates to calculating certain pensions; increases pension calculation from thirty-five to forty per centum of final average salary.

S5660 - Sponsor Memo

S5660 - Bill Text download pdf


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

                                  5660

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              May 10, 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
  calculating certain pensions

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

  Section  1.  Subdivision a 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:
  a.  The  service  retirement  benefit  for  general  members at normal
retirement age with twenty or more years of credited service shall be  a
pension  equal  to  one-fiftieth  of final average salary times years of
credited service, not in excess of thirty years, less fifty  percent  of
the  primary  social  security retirement benefit as provided in section
five hundred eleven of this article. The service retirement benefit  for
general  members  at  normal retirement age with twenty or more years of
service who first become members of the New York state and local employ-
ees' retirement system on or after April first, two thousand  twelve  at
normal  retirement  age  shall be a pension equal to the sum of [thirty-
five] FORTY per centum and one-fiftieth of final average salary for each
year of service in excess of twenty, but not in excess of thirty,  times
final average salary times years of credited service.
  § 2. Subdivision b-1 of section 604 of the retirement and social secu-
rity law, as added by chapter 18 of the laws of 2012, is amended to read
as follows:
  b-1.  Notwithstanding  any other provision of law to the contrary, the
service retirement benefit for members with  twenty  or  more  years  of
credit  service  who first become a member of a public retirement system
of the state on or after April first, two thousand twelve at age  sixty-
three  shall  be  a  pension equal to the sum of [thirty-five] FORTY per
centum and one-fiftieth of final average salary for each year of service

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

S5660A (ACTIVE) - Details

Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§504, 604, 516 & 1312, R & SS L

S5660A (ACTIVE) - Summary

Relates to calculating certain pensions; increases pension calculation from thirty-five to forty per centum of final average salary.

S5660A (ACTIVE) - Sponsor Memo

S5660A (ACTIVE) - Bill Text download pdf


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

                                 5660--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              May 10, 2019
                               ___________

Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions
  --  recommitted  to  the  Committee  on  Civil Service and Pensions in
  accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the retirement and social security law, in  relation  to
  calculating certain pensions

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

  Section 1. Subdivision a 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:
  a. The service  retirement  benefit  for  general  members  at  normal
retirement  age with twenty or more years of credited service shall be a
pension equal to one-fiftieth of final average  salary  times  years  of
credited  service,  not in excess of thirty years, less fifty percent of
the primary social security retirement benefit as  provided  in  section
five  hundred eleven of this article. The service retirement benefit for
general members at normal retirement age with twenty or  more  years  of
service who first become members of the New York state and local employ-
ees'  retirement  system on or after April first, two thousand twelve at
normal retirement age shall be a pension equal to the  sum  of  [thirty-
five] FORTY per centum and one-fiftieth of final average salary for each
year  of service in excess of twenty, but not in excess of thirty, times
final average salary times years of credited service.
  § 2. Subdivision b-1 of section 604 of the retirement and social secu-
rity law, as added by chapter 18 of the laws of 2012, is amended to read
as follows:
  b-1. Notwithstanding any other provision of law to the  contrary,  the
service  retirement  benefit  for  members  with twenty or more years of

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

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.