Assembly Bill A5798A

2023-2024 Legislative Session

Relates to service retirement benefits for certain members of the New York city employees' retirement system

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Current 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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Bill Amendments

2023-A5798 - Details

See Senate Version of this Bill:
S5792
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§505, 511 & 516, R & SS L

2023-A5798 - Summary

Provides that for New York city police/fire members, uniformed correction/sanitation revised plan and investigator revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

2023-A5798 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5798
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 23, 2023
                                ___________
 
 Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
   Committee on Governmental Employees
 
 AN ACT to amend the retirement and social security law, in  relation  to
   service  retirement  benefits for certain members of the New York city
   employees' retirement system

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 505 of the retirement and social security law, as
 amended by chapter 18 of the  laws  of  2012,  is  amended  to  read  as
 follows:
   § 505. Service retirement benefits; police/fire members, New York city
 uniformed  correction/sanitation  revised  plan members and investigator
 revised plan members. a.  The  normal  service  retirement  benefit  for
 police/fire  members,  New  York  city  uniformed  correction/sanitation
 revised plan members and investigator revised  plan  members  at  normal
 retirement  age shall be a pension equal to fifty percent of final aver-
 age salary, less fifty percent of the primary social security retirement
 benefit commencing at age sixty-two, as provided in section five hundred
 eleven of this article, EXCEPT THAT FOR POLICE/FIRE MEMBERS OF  THE  NEW
 YORK  CITY  FIRE  DEPARTMENT  PENSION  FUND  OR THE NEW YORK CITY POLICE
 PENSION FUND, THE NEW YORK CITY UNIFORMED CORRECTION/SANITATION  REVISED
 PLAN  MEMBERS  OR INVESTIGATOR REVISED PLAN MEMBERS OF THE NEW YORK CITY
 EMPLOYEES' RETIREMENT SYSTEM,  THE  NORMAL  SERVICE  RETIREMENT  BENEFIT
 SHALL  NOT  BE REDUCED BY THE PRIMARY SOCIAL SECURITY RETIREMENT BENEFIT
 COMMENCING AT AGE SIXTY-TWO AS PROVIDED IN SECTION FIVE  HUNDRED  ELEVEN
 OF THIS ARTICLE.
   b.  The  early service retirement benefit for police/fire members, New
 York city  uniformed  correction/sanitation  revised  plan  members  and
 investigator  revised  plan  members shall be a pension equal to two and
 one-tenths percent of final  average  salary  times  years  of  credited
 service  at the completion of twenty years of service or upon attainment
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06954-02-3
              

2023-A5798A (ACTIVE) - Details

See Senate Version of this Bill:
S5792
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§505, 511 & 516, R & SS L

2023-A5798A (ACTIVE) - Summary

Provides that for New York city police/fire members, uniformed correction/sanitation revised plan and investigator revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

2023-A5798A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5798--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 23, 2023
                                ___________
 
 Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
   Committee on Governmental Employees -- recommitted to the Committee on
   Governmental Employees in accordance with Assembly Rule 3, sec.  2  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee

 AN ACT to amend the retirement and social security law, in  relation  to
   service  retirement  benefits for certain members of the New York city
   employees' retirement system
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 505 of the retirement and social security law, as
 amended by chapter 18 of the  laws  of  2012,  is  amended  to  read  as
 follows:
   § 505. Service retirement benefits; police/fire members, New York city
 uniformed  correction/sanitation  revised  plan members and investigator
 revised plan members. a.  The  normal  service  retirement  benefit  for
 police/fire  members,  New  York  city  uniformed  correction/sanitation
 revised plan members and investigator revised  plan  members  at  normal
 retirement  age shall be a pension equal to fifty percent of final aver-
 age salary, less fifty percent of the primary social security retirement
 benefit commencing at age sixty-two, as provided in section five hundred
 eleven of this article, EXCEPT THAT FOR POLICE/FIRE MEMBERS OF  THE  NEW
 YORK  CITY  FIRE  DEPARTMENT  PENSION  FUND  OR THE NEW YORK CITY POLICE
 PENSION FUND, THE NEW YORK CITY UNIFORMED CORRECTION/SANITATION  REVISED
 PLAN  MEMBERS  OR INVESTIGATOR REVISED PLAN MEMBERS OF THE NEW YORK CITY
 EMPLOYEES' RETIREMENT SYSTEM,  THE  NORMAL  SERVICE  RETIREMENT  BENEFIT
 SHALL  NOT  BE REDUCED BY THE PRIMARY SOCIAL SECURITY RETIREMENT BENEFIT
 COMMENCING AT AGE SIXTY-TWO AS PROVIDED IN SECTION FIVE  HUNDRED  ELEVEN
 OF THIS ARTICLE.
   b.  The  early service retirement benefit for police/fire members, New
 York city  uniformed  correction/sanitation  revised  plan  members  and
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06954-03-4
              

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