senate Bill S5835

2019-2020 Legislative Session

Provides a cost-of-living adjustment for members of retirement systems

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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to civil service and pensions
May 15, 2019 referred to civil service and pensions

Co-Sponsors

S5835 (ACTIVE) - Details

See Assembly Version of this Bill:
A7413
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
Versions Introduced in Other Legislative Sessions:
2015-2016: S6282, A9496
2017-2018: S3306, A6045

S5835 (ACTIVE) - Summary

Provides a cost-of-living adjustment for members of retirement systems by increasing the base benefit amount for computation to $21,000.

S5835 (ACTIVE) - Sponsor Memo

S5835 (ACTIVE) - Bill Text download pdf


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

                                  5835

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              May 15, 2019
                               ___________

Introduced  by  Sen. BRESLIN -- 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 c 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:
  c. Said cost-of-living adjustment shall be computed on a base  benefit
amount  not to exceed eighteen thousand dollars of the annual retirement
allowance defined in subdivision b of this section.   EFFECTIVE  ON  THE
FIRST DAY OF SEPTEMBER, TWO THOUSAND TWENTY, SAID COST-OF-LIVING ADJUST-
MENT SHALL BE COMPUTED ON A BASE BENEFIT AMOUNT NOT TO EXCEED TWENTY-ONE
THOUSAND  DOLLARS OF THE ANNUAL RETIREMENT ALLOWANCE DEFINED IN SUBDIVI-
SION B OF THIS SECTION.
  § 2. Subdivision c 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:
  c.  Said cost-of-living adjustment shall be computed on a base benefit
amount not to exceed eighteen thousand dollars of the annual  retirement
allowance  defined  in  subdivision b of this section.  EFFECTIVE ON THE
FIRST DAY OF SEPTEMBER, TWO THOUSAND TWENTY, SAID COST-OF-LIVING ADJUST-
MENT SHALL BE COMPUTED ON A BASE BENEFIT AMOUNT NOT TO EXCEED TWENTY-ONE
THOUSAND DOLLARS OF THE ANNUAL RETIREMENT ALLOWANCE DEFINED IN  SUBDIVI-
SION B OF THIS SECTION.
  §  3. Subdivision c of section 532-a of the education law, as added by
chapter 125 of the laws of 2000, is amended to read as follows:
  c. Said cost-of-living adjustment shall be computed on a base  benefit
amount  not to exceed eighteen thousand dollars of the annual retirement

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

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