Senate Bill S8818

2023-2024 Legislative Session

Relates to normal retirement age for police/fire members of the New York city fire department pension fund

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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2023-S8818 (ACTIVE) - Details

See Assembly Version of this Bill:
A10018
Current Committee:
Senate Finance
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§501 & 503, R & SS L

2023-S8818 (ACTIVE) - Summary

Provides that the normal service retirement benefit for police/fire members who are members of the New York city fire department pension fund shall be paid to such members of the New York city fire department pension fund without regard to age upon retirement after twenty years of service.

2023-S8818 (ACTIVE) - Sponsor Memo

2023-S8818 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8818
 
                             I N  S E N A T E
 
                              March 15, 2024
                                ___________
 
 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, in  relation  to
   normal  retirement  age  for  police/fire members of the New York city
   fire department pension fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subdivision 17 of section 501 of the retirement and social
 security law, as amended by chapter 18 of the laws of 2012,  is  amended
 to read as follows:
   17.  "Normal  retirement  age"  shall  be  age  sixty-two, for general
 members, [and] the age  at  which  a  member  completes  or  would  have
 completed twenty-two years of service, for police/fire members, New York
 city  uniformed  correction/sanitation revised plan members and investi-
 gator revised plan members, AND THE AGE  AT  WHICH  A  MEMBER  COMPLETES
 TWENTY  YEARS  OF SERVICE FOR POLICE/FIRE MEMBERS WHO ARE MEMBERS OF THE
 NEW YORK CITY FIRE DEPARTMENT PENSION FUND.
   § 2. Subdivision d of section 503 of the retirement and social securi-
 ty law, as amended by chapter 18 of the laws of 2012, is amended to read
 as follows:
   d. The normal service retirement benefit  specified  in  section  five
 hundred  five  of this article shall be paid to police/fire members, New
 York city  uniformed  correction/sanitation  revised  plan  members  and
 investigator  revised plan members without regard to age upon retirement
 after twenty-two years of service; PROVIDED, HOWEVER, THAT  SUCH  NORMAL
 SERVICE  RETIREMENT  BENEFIT  FOR POLICE/FIRE MEMBERS WHO ARE MEMBERS OF
 THE NEW YORK CITY FIRE DEPARTMENT PENSION FUND SHALL  BE  PAID  TO  SUCH
 MEMBERS OF THE NEW YORK CITY FIRE DEPARTMENT PENSION FUND WITHOUT REGARD
 TO  AGE  UPON  RETIREMENT  AFTER TWENTY YEARS OF SERVICE.  Early service
 retirement shall be permitted upon  retirement  after  twenty  years  of
 credited service or attainment of age sixty-two, provided, however, that
 New  York city police/fire revised plan members, New York city uniformed
 correction/sanitation revised plan members and investigator revised plan
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14430-02-4
              

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