Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2020 |
referred to governmental employees |
Apr 18, 2019 |
referred to governmental employees |
Assembly Bill A7273
2019-2020 Legislative Session
Sponsored By
ABBATE
Archive: Last 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
Actions
co-Sponsors
Donna Lupardo
David Weprin
Michael DenDekker
Daniel Rosenthal
2019-A7273 (ACTIVE) - Details
- Current Committee:
- Assembly Governmental Employees
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Amd §§78-a & 378-a, R & SS L; amd §532-a, Ed L
2019-A7273 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7273 2019-2020 Regular Sessions I N A S S E M B L Y April 18, 2019 ___________ Introduced by M. of A. ABBATE -- read once and referred to the Committee on Governmental Employees AN ACT to amend the retirement and social security law and the education law, in relation to increasing the base benefit amount for computation of pension 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 c 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: c. Said cost-of-living adjustment shall be computed on a base benefit amount not to exceed eighteen thousand dollars of the annual retirement allowance defined in subdivision b of this section. EFFECTIVE ON THE FIRST DAY OF SEPTEMBER, TWO THOUSAND TWENTY-ONE, THE COST-OF-LIVING ADJUSTMENT SHALL BE COMPUTED ON A BASE BENEFIT AMOUNT NOT TO EXCEED TWENTY-ONE THOUSAND DOLLARS OF THE ANNUAL RETIREMENT ALLOWANCE DEFINED IN SUBDIVISION B OF THIS SECTION. EFFECTIVE ON THE FIRST DAY OF SEPTEM- BER, TWO THOUSAND TWENTY-TWO, AND ANNUALLY THEREAFTER, THE BASE BENEFIT AMOUNT SHALL BE INCREASED ANNUALLY BY A PERCENTAGE AS DETERMINED ANNUAL- LY BY REFERENCE TO THE 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, FOR EACH APPLICABLE CALENDAR YEAR. SAID PERCENTAGE INCREASE SHALL EQUAL FIFTY PERCENT OF THE ANNUAL INFLATION, AS DETERMINED FROM THE INCREASE IN THE CONSUMER PRICE INDEX IN THE ONE YEAR PERIOD ENDING ON THE MARCH THIRTY-FIRST PRIOR TO THE BASE BENEFIT AMOUNT INCREASE EFFECTIVE ON THE ENSUING SEPTEMBER FIRST. SAID PERCENTAGE SHALL THEN BE ROUNDED UP TO THE NEXT HIGHER ONE-TENTH OF ONE PERCENT AND SHALL NOT EXCEED THREE PERCENT NOR BE LESS THAN ONE PERCENT. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09712-02-9
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.