Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 16, 2022 |
print number 9256a |
May 16, 2022 |
amend and recommit to civil service and pensions |
May 12, 2022 |
referred to civil service and pensions |
Senate Bill S9256A
2021-2022 Legislative Session
Sponsored By
(D) 19th Senate District
Archive: Last Bill Status - In Senate Committee Civil Service And Pensions 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-S9256 - Details
- See Assembly Version of this Bill:
- A10415
- Current Committee:
- Senate Civil Service And Pensions
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Add §505-a, R & SS L
2021-S9256 - Sponsor Memo
BILL NUMBER: S9256 SPONSOR: PERSAUD TITLE OF BILL: An act to amend the retirement and social security law, in relation to additional pension benefits for police/fire members PURPOSE: To provide additional pension benefits for police/fire members for service beyond the normal service retirement date SUMMARY OF PROVISIONS: Section 1 of the bill would add a new § 505-a to the Retirement and Social Security Law to provide that upon retirement, a police or fire member shall receive a pension benefit of 1/60 of average annual earn- ings, from the date of eligibility for normal service retirement to the actual date of retirement, for each additional year of service or frac- tion thereof beyond normal retirement age.
2021-S9256 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9256 I N S E N A T E May 12, 2022 ___________ Introduced by Sen. PERSAUD -- 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 additional pension benefits for police/fire members THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The retirement and social security law is amended by adding a new section 505-a to read as follows: § 505-A. ADDITIONAL PENSION BENEFIT FOR POLICE/FIRE MEMBERS. POLICE/FIRE MEMBERS SHALL, UPON RETIREMENT, RECEIVE FOR EACH ADDITIONAL YEAR OF SERVICE OR FRACTION THEREOF BEYOND NORMAL RETIREMENT AGE, IN ADDITION TO THE BENEFITS PROVIDED IN SUBDIVISION A OF SECTION FIVE HUNDRED FIVE OF THIS ARTICLE, OR SUBDIVISION C OF SECTION FIVE HUNDRED SEVEN OF THIS ARTICLE, A PENSION OF ONE-SIXTIETH OF AVERAGE ANNUAL EARN- INGS FROM THE DATE OF ELIGIBILITY FOR NORMAL SERVICE RETIREMENT TO THE ACTUAL DATE OF RETIREMENT. SUCH PENSION SHALL BE SUBJECT TO ANNUAL ESCALATION PURSUANT TO SECTION FIVE HUNDRED TEN OF THIS ARTICLE. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14663-01-2
2021-S9256A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10415
- Current Committee:
- Senate Civil Service And Pensions
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Add §505-a, R & SS L
2021-S9256A (ACTIVE) - Summary
Grants additional pension benefits for police/fire members, for each additional year of service beyond normal retirement age, in the amount of one-sixtieth of average annual earnings from the date of eligibility for normal service retirement to the actual date of retirement.
2021-S9256A (ACTIVE) - Sponsor Memo
BILL NUMBER: S9256A SPONSOR: PERSAUD TITLE OF BILL: An act to amend the retirement and social security law, in relation to additional pension benefits for police/fire members PURPOSE: To provide additional pension benefits for police/fire members for service beyond the normal service retirement date SUMMARY OF PROVISIONS: Section 1 of the bill would add a new § 505-a to the Retirement and Social Security Law to provide that upon retirement, a police or fire member shall receive a pension benefit of 1/60 of average annual earn- ings, from the date of eligibility for normal service retirement to the actual date of retirement, for each additional year of service or frac- tion thereof beyond normal retirement age.
2021-S9256A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9256--A I N S E N A T E May 12, 2022 ___________ Introduced by Sen. PERSAUD -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the retirement and social security law, in relation to additional pension benefits for police/fire members THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The retirement and social security law is amended by adding a new section 505-a to read as follows: § 505-A. ADDITIONAL PENSION BENEFIT FOR POLICE/FIRE MEMBERS. POLICE/FIRE MEMBERS SHALL, UPON RETIREMENT, RECEIVE FOR EACH ADDITIONAL YEAR OF SERVICE OR FRACTION THEREOF BEYOND NORMAL RETIREMENT AGE, IN ADDITION TO THE BENEFITS PROVIDED IN SUBDIVISION A OF SECTION FIVE HUNDRED FIVE OF THIS ARTICLE, OR SUBDIVISION C OF SECTION FIVE HUNDRED SEVEN OF THIS ARTICLE, A PENSION OF ONE-SIXTIETH OF AVERAGE ANNUAL EARN- INGS FROM THE DATE OF ELIGIBILITY FOR NORMAL SERVICE RETIREMENT TO THE ACTUAL DATE OF RETIREMENT. SUCH PENSION SHALL BE SUBJECT TO ANNUAL ESCALATION PURSUANT TO SECTION FIVE HUNDRED TEN OF THIS ARTICLE. § 2. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: SUMMARY OF BILL: This proposed legislation would add a new Section 505-a to the Retirement and Social Security Law (RSSL) to provide an additional benefit of 1/60th of average annual earnings, subject to applicable escalation, for each additional year of credited service, or fraction thereof, beyond 22 years of service for normal service retire- ment and Accident Disability Retirement (ADR) benefits for Tier 3 Original, Revised/Modified, and Enhanced plan members (Tier 3 members) of the New York City Police Pension Fund (POLICE) and the New York City Fire Pension Fund (FIRE). Effective Date: Upon enactment. IMPACT ON BENEFITS: Currently, upon reaching 22 or more years of cred- ited service, the Tier 3 normal service retirement and non-Enhanced ADR benefit is equal to: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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