Assembly Bill A8226

2021-2022 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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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2021-A8226 (ACTIVE) - Details

Current Committee:
Assembly Governmental Employees
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: A9496
2017-2018: A6045
2019-2020: A7413
2023-2024: A6015

2021-A8226 (ACTIVE) - Summary

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

2021-A8226 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8226
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              August 25, 2021
                                ___________
 
 Introduced  by M. of A. STECK -- read once and referred to the Committee
   on Governmental Employees
 
 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-TWO, SAID COST-OF-LIVING
 ADJUSTMENT SHALL BE COMPUTED ON A BASE  BENEFIT  AMOUNT  NOT  TO  EXCEED
 TWENTY-ONE  THOUSAND  DOLLARS OF THE ANNUAL RETIREMENT ALLOWANCE DEFINED
 IN SUBDIVISION 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-TWO,  SAID  COST-OF-LIVING
 ADJUSTMENT  SHALL  BE  COMPUTED  ON  A BASE BENEFIT AMOUNT NOT TO EXCEED
 TWENTY-ONE THOUSAND DOLLARS OF THE ANNUAL RETIREMENT  ALLOWANCE  DEFINED
 IN SUBDIVISION 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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