Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 21, 2022 |
print number 7370a |
Jan 21, 2022 |
amend and recommit to governmental employees |
Jan 05, 2022 |
referred to governmental employees |
May 06, 2021 |
referred to governmental employees |
Assembly Bill A7370A
2021-2022 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
Bill Amendments
2021-A7370 - Details
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
Judy Griffin
Steve Stern
2021-A7370A (ACTIVE) - Details
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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