Senate Bill S4972

Signed By Governor
2023-2024 Legislative Session

Relates to the calculation of final average salary for certain members of the New York state and local police and fire retirement system

download bill text pdf

Sponsored By

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

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2023-S4972 (ACTIVE) - Details

See Assembly Version of this Bill:
A5136
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §1209, R & SS L
Versions Introduced in 2021-2022 Legislative Session:
S8401, A9581

2023-S4972 (ACTIVE) - Summary

Provides that certain members of the police and fire retirement system shall have final average salary be calculated as the regular compensation earned during the twelve months of actual service immediately preceding the date of such member's retirement.

2023-S4972 (ACTIVE) - Sponsor Memo

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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