Senate Bill S6252A

2023-2024 Legislative Session

Provides cost-of-living adjustments for certain public retirees

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance 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

co-Sponsors

2023-S6252 - Details

See Assembly Version of this Bill:
A6638
Current Committee:
Senate Finance
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§78-a & 378-a, R & SS L; amd §532-a, Ed L; amd §13-696, NYC Ad Cd
Versions Introduced in 2021-2022 Legislative Session:
S6060, A9994

2023-S6252 - Summary

Provides cost-of-living adjustments for certain public retirees, including an adjusted benefit in monthly installments that is equal to the percentage of the change in consumer price index according to the included schedule.

2023-S6252 - Sponsor Memo

2023-S6252 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6252
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              April 10, 2023
                                ___________
 
 Introduced  by  Sen. JACKSON -- 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,  the  education
   law  and  the administrative code of the city of New York, in relation
   to providing cost-of-living adjustments

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subdivision f of section 78-a of the retirement and social
 security law, as added by chapter 125 of the laws of 2000, is amended to
 read as follows:
   f. Commencing September first, two thousand, all retired  members  who
 have  retired  prior  to the calendar year nineteen hundred ninety-seven
 and who meet the eligibility criteria set forth in subdivision a of this
 section shall be paid an adjusted benefit in monthly installments on the
 basis provided for in this subdivision. Said adjusted benefit  shall  be
 equal  to  a percentage of the change in consumer price index (all urban
 consumers, CPI-U, U.S. city average, all items, 1982-84=100),  published
 by  the United States bureau of labor statistics, measured from the year
 of  retirement  through  calendar  year  nineteen  hundred  ninety-seven
 according to the following schedule:
 
       Year of retirement                     Percentage
       1968 through 1996                      50%
       1966 and 1967                          55%
       1965                                   60%
       1964                                   65%
       1963                                   70%
       1962                                   80%
       1961                                   90%
       prior to 1961                          100%
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08541-02-3
 S. 6252                             2
              

co-Sponsors

2023-S6252A (ACTIVE) - Details

See Assembly Version of this Bill:
A6638
Current Committee:
Senate Finance
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§78-a & 378-a, R & SS L; amd §532-a, Ed L; amd §13-696, NYC Ad Cd
Versions Introduced in 2021-2022 Legislative Session:
S6060, A9994

2023-S6252A (ACTIVE) - Summary

Provides cost-of-living adjustments for certain public retirees, including an adjusted benefit in monthly installments that is equal to the percentage of the change in consumer price index according to the included schedule.

2023-S6252A (ACTIVE) - Sponsor Memo

2023-S6252A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6252--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              April 10, 2023
                                ___________
 
 Introduced by Sens. JACKSON, ADDABBO, HARCKHAM -- read twice and ordered
   printed,  and  when  printed to be committed to the Committee on Civil
   Service and Pensions -- recommitted to the Committee on Civil  Service
   and  Pensions  in  accordance  with Senate Rule 6, sec. 8 -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the retirement and social security  law,  the  education
   law  and  the administrative code of the city of New York, in relation
   to providing cost-of-living adjustments
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subdivision f of section 78-a of the retirement and social
 security law, as added by chapter 125 of the laws of 2000, is amended to
 read as follows:
   f. Commencing September first, two thousand, all retired  members  who
 have  retired  prior  to the calendar year nineteen hundred ninety-seven
 and who meet the eligibility criteria set forth in subdivision a of this
 section shall be paid an adjusted benefit in monthly installments on the
 basis provided for in this subdivision. Said adjusted benefit  shall  be
 equal  to  a percentage of the change in consumer price index (all urban
 consumers, CPI-U, U.S. city average, all items, 1982-84=100),  published
 by  the United States bureau of labor statistics, measured from the year
 of  retirement  through  calendar  year  nineteen  hundred  ninety-seven
 according to the following schedule:
 
       Year of retirement                     Percentage
       1968 through 1996                      50%
       1966 and 1967                          55%
       1965                                   60%
       1964                                   65%
       1963                                   70%
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08541-06-4
              

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