Assembly Actions -
Senate Actions - UPPERCASE
|Mar 03, 2022||
referred to civil service and pensions
Senate Bill S8461
2021-2022 Legislative Session
Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2021-S8461 (ACTIVE) - Details
2021-S8461 (ACTIVE) - Summary
Permits wages earned through shared services agreements to be included in the computation of final average salaries regardless if such earnings make the final average salary exceed that of the previous two years by more than ten percent; provides any additional costs shall be borne by the participating members of the shared services agreement, not the state.
2021-S8461 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8461 SPONSOR: RITCHIE TITLE OF BILL: An act to amend the retirement and social security law, in relation to permitting wages earned through shared services agreements to be included in the computation of final average salaries PURPOSE: This bill would allow earnings while working under a shared services agreement that are in excess of the ten percent limitation to be included in the computation of final average salary SUMMARY OF PROVISIONS: Sections 1 through 3 amend the retirement and social security law to provide that, for retirement system members of tiers 3 through 6, earn- ings while working under a shared services agreement that are in excess of the ten percent limitation, can be included in the computation of final average salary
2021-S8461 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8461 I N S E N A T E March 3, 2022 ___________ Introduced by Sen. RITCHIE -- 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 permitting wages earned through shared services agreements to be included in the computation of final average salaries THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions a and b of section 512 of the retirement and social security law, subdivision a as amended by chapter 298 of the laws of 2016 and subdivision b as amended by chapter 18 of the laws of 2012, are amended and a new subdivision e is added to read as follows: a. A member's final average salary shall be the average wages earned by such a member during any three consecutive years which provide the highest average wage; provided, however, if the wages earned during any year included in the period used to determine final average salary exceeds that of the average of the previous two years by more than ten percent, the amount in excess of ten percent shall be excluded from the computation of final average salary; PROVIDED HOWEVER IF THE AMOUNT IN EXCESS OF TEN PERCENT WAS EARNED WHILE WORKING UNDER A SHARED SERVICES AGREEMENT, SUCH EXCESS SHALL BE INCLUDED IN THE COMPUTATION OF THE FINAL AVERAGE SALARY. Notwithstanding the preceding provisions of this subdi- vision to the contrary, for a member who first becomes a member of the New York state and local employees' retirement system on or after April first, two thousand twelve, or for a New York city police/fire revised plan member, a New York city enhanced plan member who receives the ordi- nary disability benefit provided for in subdivision c-1 of section five hundred six of this article or the accidental disability benefit provided for in paragraph three of subdivision c of section five hundred seven of this article, a New York city uniformed correction/sanitation revised plan member or an investigator revised plan member, a member's final average salary shall be the average wages earned by such a member during any five consecutive years which provide the highest average wage; provided, however, if the wages earned during any year included in the period used to determine final average salary exceeds that of the EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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