Assembly Bill A6344A

2023-2024 Legislative Session

Relates to service retirement benefits for members of the NYC police pension fund

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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-A6344 - Details

See Senate Version of this Bill:
S6481
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§505, 511 & 516, R & SS L
Versions Introduced in Other Legislative Sessions:
2019-2020: A8182, S5924
2021-2022: A9810, S8664

2023-A6344 - Summary

Provides that service retirement benefits for members of the NYC police pension fund shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

2023-A6344 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6344
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 5, 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 members of the New York city police
   pension fund
 
   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 MEMBERS OF  THE  NEW  YORK  CITY
 POLICE  PENSION FUND, 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
 of age sixty-two, increased by one-third of one percent of final average
 salary  for  each month of service in excess of twenty years, but not in
 excess of fifty percent of final average salary, less fifty  percent  of

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08526-02-3
              

2023-A6344A (ACTIVE) - Details

See Senate Version of this Bill:
S6481
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§505, 511 & 516, R & SS L
Versions Introduced in Other Legislative Sessions:
2019-2020: A8182, S5924
2021-2022: A9810, S8664

2023-A6344A (ACTIVE) - Summary

Provides that service retirement benefits for members of the NYC police pension fund shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

2023-A6344A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6344--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 5, 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 members of the New York city police
   pension fund
 
   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 MEMBERS OF  THE  NEW  YORK  CITY
 POLICE  PENSION FUND, 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.
                                                            LBD08526-03-4
              

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