senate Bill S8461

2021-2022 Legislative Session

Permits wages earned through shared services agreements to be included in the computation of final average salaries

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 (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 03, 2022 referred to civil service and pensions

S8461 (ACTIVE) - Details

Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§512, 608 & 1209, R & SS L

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.

S8461 (ACTIVE) - Sponsor Memo

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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