Senate Bill S7498A

2023-2024 Legislative Session

Relates to eligibility for participants in the automotive 25 year/age 50 pension plan with more than 30 years of credited service who remain in active service after age 62 to receive a service retirement benefit

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Sponsored By

Current Bill Status - Passed Senate & Assembly


  • 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-S7498 - Details

See Assembly Version of this Bill:
A7572
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§603 & 604-g, R & SS L

2023-S7498 - Summary

Relates to eligibility for participants in the automotive 25 year/age 50 pension plan with more than 30 years of credited service who remain in active service after age 62 to receive a service retirement benefit equivalent to the standard service retirement benefit received by Tier IV members with the same age and service.

2023-S7498 - Sponsor Memo

2023-S7498 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7498
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               June 1, 2023
                                ___________
 
 Introduced  by  Sen. JACKSON -- 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
   eligibility  for participants in the automotive 25 year/age 50 pension
   plan with more than 30 years of credited service who remain in  active
   service  after  age  62 to receive a service retirement benefit equiv-
   alent to the standard service retirement benefit received by  Tier  IV
   members with the same age and service
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision a of section 603 of the retirement  and  social
 security  law,  as amended by chapter 18 of the laws of 2012, is amended
 to read as follows:
   a. The service retirement benefit specified  in  section  six  hundred
 four  of this article shall be payable to members who have met the mini-
 mum service requirements upon retirement and attainment  of  age  sixty-
 two,  other  than  members who are eligible for early service retirement
 pursuant to subdivision c of section six hundred four-b of this article,
 subdivision c of section six hundred four-c of this article, subdivision
 d of section six hundred  four-d  of  this  article,  subdivision  c  of
 section six hundred four-e of this article, subdivision c of section six
 hundred  four-f  of  this article, [subdivision c of section six hundred
 four-g of this article,] subdivision c of section six hundred four-h  of
 this  article  or  subdivision  c  of section six hundred four-i of this
 article, provided, however, a member of a teachers' retirement system or
 the New York state and local  employees'  retirement  system  who  first
 joins such system before January first, two thousand ten or a member who
 is  a  uniformed  court officer or peace officer employed by the unified
 court system who first becomes a member of the New York state and  local
 employees' retirement system before April first, two thousand twelve may
 retire  without  reduction of his or her retirement benefit upon attain-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09945-02-3
              

co-Sponsors

2023-S7498A (ACTIVE) - Details

See Assembly Version of this Bill:
A7572
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§603 & 604-g, R & SS L

2023-S7498A (ACTIVE) - Summary

Relates to eligibility for participants in the automotive 25 year/age 50 pension plan with more than 30 years of credited service who remain in active service after age 62 to receive a service retirement benefit equivalent to the standard service retirement benefit received by Tier IV members with the same age and service.

2023-S7498A (ACTIVE) - Sponsor Memo

2023-S7498A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7498--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               June 1, 2023
                                ___________
 
 Introduced  by  Sen. JACKSON -- 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  commit-
   tee
 
 AN  ACT  to amend the retirement and social security law, in relation to
   eligibility for participants in the automotive 25 year/age 50  pension
   plan  with more than 30 years of credited service who remain in active
   service after age 62 to receive a service  retirement  benefit  equiv-
   alent  to  the standard service retirement benefit received by Tier IV
   members with the same age and service
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision a of section 603 of the retirement and social
 security law, as amended by chapter 18 of the laws of 2012,  is  amended
 to read as follows:
   a.  The  service  retirement  benefit specified in section six hundred
 four of this article shall be payable to members who have met the  mini-
 mum  service  requirements  upon retirement and attainment of age sixty-
 two, other than members who are eligible for  early  service  retirement
 pursuant to subdivision c of section six hundred four-b of this article,
 subdivision c of section six hundred four-c of this article, subdivision
 d  of  section  six  hundred  four-d  of  this article, subdivision c of
 section six hundred four-e of this article, subdivision c of section six
 hundred four-f of this article, [subdivision c of  section  six  hundred
 four-g  of this article,] subdivision c of section six hundred four-h of
 this article or subdivision c of section  six  hundred  four-i  of  this
 article, provided, however, a member of a teachers' retirement system or
 the  New  York  state  and  local employees' retirement system who first
 joins such system before January first, two thousand ten or a member who
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09945-03-4
              

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