Assembly Bill A5374

2023-2024 Legislative Session

Relates to service retirement benefits for uniformed sanitation members of the New York city employees' retirement system

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Sponsored By

Current 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

2023-A5374 - Details

Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§505, 511 & 516, R & SS L
Versions Introduced in 2021-2022 Legislative Session:
A6955

2023-A5374 - Summary

Provides that for New York city uniformed sanitation revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

2023-A5374 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5374
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 9, 2023
                                ___________
 
 Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
   Committee on Governmental Employees
 
 AN ACT to amend the retirement and social security law, in  relation  to
   service  retirement  benefits  for uniformed sanitation members of the
   New York city employees' retirement system

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 505 of the retirement and social security law, as
 amended by chapter 18 of the  laws  of  2012,  is  amended  to  read  as
 follows:
   § 505. Service retirement benefits; police/fire members, New York city
 uniformed  correction/sanitation  revised  plan members and investigator
 revised plan members. a.  The  normal  service  retirement  benefit  for
 police/fire  members,  New  York  city  uniformed  correction/sanitation
 revised plan members and investigator revised  plan  members  at  normal
 retirement  age shall be a pension equal to fifty percent of final aver-
 age salary, less fifty percent of the primary social security retirement
 benefit commencing at age sixty-two, as provided in section five hundred
 eleven of this article, EXCEPT THAT FOR NEW YORK CITY UNIFORMED  SANITA-
 TION  REVISED  PLAN  MEMBERS  OF THE NEW YORK CITY EMPLOYEES' RETIREMENT
 SYSTEM, THE NORMAL SERVICE RETIREMENT BENEFIT SHALL NOT  BE  REDUCED  BY
 THE  PRIMARY SOCIAL SECURITY RETIREMENT BENEFIT COMMENCING AT AGE SIXTY-
 TWO AS PROVIDED IN SECTION FIVE HUNDRED ELEVEN OF THIS ARTICLE.
   b. The early service retirement benefit for police/fire  members,  New
 York  city  uniformed  sanitation  revised plan members and investigator
 revised plan members shall be a pension  equal  to  two  and  one-tenths
 percent  of  final average salary times years of credited service at the
 completion of twenty years of service or upon attainment of  age  sixty-
 two,  increased  by one-third of one percent of final average salary for
 each month of service in excess of twenty years, but not  in  excess  of
 fifty percent of final average salary, less fifty percent of the primary
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06943-02-3
              

co-Sponsors

2023-A5374A (ACTIVE) - Details

Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§505, 511 & 516, R & SS L
Versions Introduced in 2021-2022 Legislative Session:
A6955

2023-A5374A (ACTIVE) - Summary

Provides that for New York city uniformed sanitation revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

2023-A5374A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5374--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 9, 2023
                                ___________
 
 Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
   Committee on Governmental Employees -- recommitted to the Committee on
   Governmental Employees in accordance with Assembly Rule 3, sec.  2  --
   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
   service  retirement  benefits  for uniformed sanitation members of the
   New York city employees' retirement system
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 505 of the retirement and social security law, as
 amended by chapter 18 of the  laws  of  2012,  is  amended  to  read  as
 follows:
   § 505. Service retirement benefits; police/fire members, New York city
 uniformed  correction/sanitation  revised  plan members and investigator
 revised plan members. a.  The  normal  service  retirement  benefit  for
 police/fire  members,  New  York  city  uniformed  correction/sanitation
 revised plan members and investigator revised  plan  members  at  normal
 retirement  age shall be a pension equal to fifty percent of final aver-
 age salary, less fifty percent of the primary social security retirement
 benefit commencing at age sixty-two, as provided in section five hundred
 eleven of this article, EXCEPT THAT FOR NEW YORK CITY UNIFORMED  SANITA-
 TION  REVISED  PLAN  MEMBERS  OF THE NEW YORK CITY EMPLOYEES' RETIREMENT
 SYSTEM, THE NORMAL SERVICE RETIREMENT BENEFIT SHALL NOT  BE  REDUCED  BY
 THE  PRIMARY SOCIAL SECURITY RETIREMENT BENEFIT COMMENCING AT AGE SIXTY-
 TWO AS PROVIDED IN SECTION FIVE HUNDRED ELEVEN OF THIS ARTICLE.
   b. The early service retirement benefit for police/fire  members,  New
 York  city  uniformed  sanitation  revised plan members and investigator
 revised plan members shall be a pension  equal  to  two  and  one-tenths
 percent  of  final average salary times years of credited service at the
 completion of twenty years of service or upon attainment of  age  sixty-
 two,  increased  by one-third of one percent of final average salary for
 each month of service in excess of twenty years, but not  in  excess  of
 fifty percent of final average salary, less fifty percent of the primary
 
              

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