Senate Bill S6343

2023-2024 Legislative Session

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

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance 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

co-Sponsors

2023-S6343 - Details

See Assembly Version of this Bill:
A6574
Current Committee:
Senate Finance
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §1203, R & SS L
Versions Introduced in Other Legislative Sessions:
2019-2020: S6133
2021-2022: S6370, A7370

2023-S6343 - Summary

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

2023-S6343 - Sponsor Memo

2023-S6343 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6343
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              April 17, 2023
                                ___________
 
 Introduced by Sen. GOUNARDES -- 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
   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 Tier 6 members in the  New  York  State  and
 Local  Police  and  Fire  Retirement  System.  The  current  limit is 15
 percent.
   Insofar as this bill affects the New York State and Local  Police  and
 Fire  Retirement  System  (NYSLPFRS), increased costs would be shared by

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08426-02-3
              

co-Sponsors

2023-S6343A (ACTIVE) - Details

See Assembly Version of this Bill:
A6574
Current Committee:
Senate Finance
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §1203, R & SS L
Versions Introduced in Other Legislative Sessions:
2019-2020: S6133
2021-2022: S6370, A7370

2023-S6343A (ACTIVE) - Summary

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

2023-S6343A (ACTIVE) - Sponsor Memo

2023-S6343A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6343--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              April 17, 2023
                                ___________
 
 Introduced  by Sens. GOUNARDES, ADDABBO, CHU, GALLIVAN, MAYER, RHOADS --
   read twice and ordered printed, and when printed to  be  committed  to
   the  Committee  on  Civil  Service  and Pensions -- recommitted to the
   Committee on Civil Service and Pensions in accordance with Senate Rule
   6, sec. 8 -- 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
   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 Tier 6 members in the  New  York  State  and

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08426-04-4
              

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