Assembly Bill A7370A

2021-2022 Legislative Session

Relates to the limitation of overtime compensation in final average salary calculations

download bill text pdf

Sponsored By

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

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Bill Amendments

2021-A7370 - Details

See Senate Version of this Bill:
S6370
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §1203, R & SS L
Versions Introduced in Other Legislative Sessions:
2019-2020: S6133
2023-2024: A6574, S6343

2021-A7370 - Summary

Increases the limitation of overtime compensation in final average salary calculations from fifteen percent to thirty percent.

2021-A7370 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7370
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 6, 2021
                                ___________
 
 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, in relation to
   the limitation of overtime compensation in final average salary calcu-
   lations
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 1203 of the retirement and social security law, as
 added by section 1 of part A of chapter 504 of  the  laws  of  2009,  is
 amended to read as follows:
   §  1203. Overtime. A member's final average salary shall be calculated
 in accordance with such provisions of article eight or article eleven of
 this chapter as govern the member's benefits INCLUDING OVERTIME,  except
 that earnings classified as overtime compensation in an amount in excess
 of [fifteen] THIRTY percent of a member's annual wages not classified as
 overtime compensation shall be excluded from such calculation. "Overtime
 compensation"  shall  mean,  for  purposes of this section, compensation
 paid under any law or policy under which employees are paid  at  a  rate
 greater  than  their  standard  rate  for additional hours worked beyond
 those required, including compensation paid under  section  one  hundred
 thirty-four  of  the civil service law and section ninety of the general
 municipal law.
   § 2. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would increase the allowable overtime compensation  included
 in  the  final  average  salary  calculation to 30 percent of a member's
 annual wages for tier 5 and 6 members in the New York  State  and  Local
 Police  and  Fire  Retirement System (NYSLPFRS). The current limit is 15
 percent.
   If this bill is enacted  during  the  2021  legislative  session,  the
 increase  in  the  present value of benefits would be approximately $212
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2021-A7370A (ACTIVE) - Details

See Senate Version of this Bill:
S6370
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §1203, R & SS L
Versions Introduced in Other Legislative Sessions:
2019-2020: S6133
2023-2024: A6574, S6343

2021-A7370A (ACTIVE) - Summary

Increases the limitation of overtime compensation in final average salary calculations from fifteen percent to thirty percent.

2021-A7370A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7370--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 6, 2021
                                ___________
 
 Introduced by M. of A. ABBATE -- read once and referred to the Committee
   on  Governmental  Employees -- recommitted to the Committee on Govern-
   mental Employees in accordance with Assembly Rule 3, sec. 2 -- commit-
   tee discharged, bill amended, ordered reprinted as amended and  recom-
   mitted to said committee

 AN  ACT  to amend the retirement and social security law, in relation to
   the limitation of overtime compensation in final average salary calcu-
   lations
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 1203 of the retirement and social security law, as
 added by section 1 of part A of chapter 504 of  the  laws  of  2009,  is
 amended to read as follows:
   §  1203. Overtime. A member's final average salary shall be calculated
 in accordance with such provisions of article eight or article eleven of
 this chapter as govern the member's benefits INCLUDING OVERTIME,  except
 that earnings classified as overtime compensation in an amount in excess
 of [fifteen] THIRTY percent of a member's annual wages not classified as
 overtime compensation shall be excluded from such calculation. "Overtime
 compensation"  shall  mean,  for  purposes of this section, compensation
 paid under any law or policy under which employees are paid  at  a  rate
 greater  than  their  standard  rate  for additional hours worked beyond
 those required, including compensation paid under  section  one  hundred
 thirty-four  of  the civil service law and section ninety of the general
 municipal law.
   § 2. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would increase the allowable overtime compensation  included
 in  the  final  average  salary  calculation to 30 percent of a member's
 annual wages for tier 5 and 6 members in the New York  State  and  Local
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10748-06-2
 A. 7370--A                          2
              

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