NY State Senate Bill 2021-S4920

Senate Bill S4920

2021-2022 Legislative Session

Increases the amount of money a public retirement system retiree may earn in a position of public service to $50,000

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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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to civil service and pensions
Feb 18, 2021	referred to civil service and pensions

co-Sponsors

2021-S4920 (ACTIVE) - Details

See Assembly Version of this Bill:: A2453
Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement and Social Security Law
Laws Affected:: Amd §212, R & SS L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S4345
2017-2018: S5725, A7872
2019-2020: S795, A7109
2023-2024: S4124

2021-S4920 (ACTIVE) - Summary

Increases the amount of money a public retirement system retiree may earn in a position of public service in the year 2022 and thereafter to $50,000.

2021-S4920 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S4920

SPONSOR: LANZA
 
TITLE OF BILL:

An act to amend the retirement and social security law, in relation to
increasing the retiree public earnings cap

 
PURPOSE:

This bill would increase the amount that a public retiree under'sixty-
five years of age may earn in public employment without a reduction of
his or her retirement benefits.

 
SUMMARY OF PROVISIONS:

The bill amends subdivision 2 of Section 212 of the Retirement and
Social Security Law. It would allow a public retiree to earn up to
$50,000 in public employment without reducing the retiree's pension.

JUSTIFICATION:

Under current law, retirees may earn up to $30,000 from public employ-
ment without diminution of retirement earnings. From 1996 through 2004
this earnings limit was raised each year. The last time it was increased
was in 2007 when it was raised from $27,500 to $30,000. Increasing the
mount up to $50,000 for retirees under 65 years of age would allow state
and local governments the ability to hire experienced employees at a
significant) reduced cost without paying for employee benefits.  Pursu-
ant to subdivision one of section 212, there are no earning limitations
applicable to retired persons who are age sixty-five or older.

 
LEGISLATIVE HISTORY:

2020: S.795 -Referred to Civil Service/A.7109 Referred to Governmental
Employees

2019: S.795 - Referred to Civil Service/ A.7109 Referred to Governmental
Employees

2018: s.5725-A - Referred to Civil Service & Pensions / A.7872-A
Referred to Governmental Employees

2017: S.5725 - Died on Third Reading Calendar / A.7872 - Referred to
Governmental Employees

2016: S.4345A - Referred to Civil Service & Pensions

2015: S.4345 - 3rd Reading Calendar

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
Immediately.

2021-S4920 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4920
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 18, 2021
                                ___________
 
 Introduced  by  Sen.  LANZA  -- 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
   increasing the retiree public earnings cap
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 2 of section 212 of the retirement  and  social
 security  law, as amended by chapter 589 of the laws of 2019, is amended
 to read as follows:
   2. The earning limitations for retired persons in positions of  public
 service  under  this  section  shall be in accordance with the following
 table:
 
         For the year               Earnings limitation
             1996                         $12,500
             1997                         $13,500
             1998                         $14,500
             1999                         $15,500
             2000                         $17,000
             2001                         $18,500
             2002                         $20,000
             2003                         $25,000
             2004                         $27,500
             2005 and 2006                $27,500
             2007 through 2019            $30,000
             2020 [and thereafter]
             THROUGH 2021                 $35,000
             2022 AND THEREAFTER          $50,000
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06039-01-1

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Senate Bill S4920

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Sponsored By

Andrew J. Lanza