Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 08, 2023 |
signed chap.705 |
Nov 29, 2023 |
delivered to governor |
Jun 10, 2023 |
returned to senate passed assembly ordered to third reading rules cal.814 substituted for a5136 |
Jun 05, 2023 |
referred to ways and means delivered to assembly passed senate |
May 30, 2023 |
ordered to third reading cal.1373 committee discharged and committed to rules |
Apr 25, 2023 |
reported and committed to finance |
Feb 17, 2023 |
referred to civil service and pensions |
Senate Bill S4972
Signed By Governor2023-2024 Legislative Session
Sponsored By
(D) 26th Senate District
Current Bill Status - Signed by Governor
- 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
Actions
Votes
co-Sponsors
(R) 43rd Senate District
(D, WF) 17th Senate District
(D, WF) 31st Senate District
(D, WF) 63rd Senate District
2023-S4972 (ACTIVE) - Details
2023-S4972 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4972 SPONSOR: GOUNARDES TITLE OF BILL: An act to amend the retirement and social security law, in relation to the calculation of final average salary for certain members of the New York state and local police and fire retirement system PURPOSE OR GENERAL IDEA OF BILL: To allow Tier 6 members of the Police and Fire Retirement System to retain a 1 year final average salary calculation when their locality had previously adopted such calculation prior to the creation of Tier 6. SUMMARY OF PROVISIONS: Section one amends Section 1209 of the Retirement and Social Security Law to add a new subdivision b to provide that Tier 6 members of the Police and Fire Retirement System (PFRS) whose employer had previously elected a 1 year final average salary (FAS) pursuant to paragraph d of subdivision 9 of section 302 of RSSL shall be able to retain such 1 year
2023-S4972 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4972 2023-2024 Regular Sessions I N S E N A T E February 17, 2023 ___________ Introduced by Sens. GOUNARDES, KENNEDY, MANNION -- 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 the calculation of final average salary for certain members of the New York state and local police and fire retirement system THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1209 of the retirement and social security law, as added by chapter 18 of the laws of 2012, is amended to read as follows: § 1209. Final average salary. A. For members who first become members of the New York state and local police and fire retirement system on or after April first, two thousand twelve, a member's final average salary shall be equal to one-fifth of the highest total wages earned by such member during any continuous period of employment for which the member was credited with five years of service credit; provided, however, if the wages earned during any year of credited service included in the period used to determine final average salary exceeds the average of the wages of the previous four years of credited service by more than ten percent, the amount in excess of ten percent shall be excluded from the computation of final average salary. Wages in excess of the annual sala- ry paid to the governor pursuant to section three of article four of the state constitution shall be excluded from the computation of final aver- age salary for members who first become members of the New York state and local police and fire retirement system on or after April first, two thousand twelve. B. NOTWITHSTANDING SUBDIVISION A OF THIS SECTION, MEMBERS WHO FIRST BECOME MEMBERS OF THE NEW YORK STATE AND LOCAL POLICE AND FIRE RETIRE- MENT SYSTEM ON OR AFTER APRIL FIRST, TWO THOUSAND TWELVE, AND WHO RETIRE FROM AN EMPLOYER WHICH, PRIOR TO APRIL FIRST, TWO THOUSAND TWELVE, ELECTED BY THE ADOPTION, FILING AND APPROVAL OF A RESOLUTION IN THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06417-02-3
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