New York S 4668: Relates to service retirement benefits for certain members of the New York city employees' retirement system

Bill Text

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S04668 Summary:

BILL NOS04668 

&nbsp

SAME ASSAME AS A05561

&nbsp

SPONSORJACKSON

&nbsp

COSPNSRSCARCELLA-SPANTON

&nbsp

MLTSPNSR

&nbsp

Amd §§505, 511 & 516, R & SS L

&nbsp

Relates to service retirement benefits for certain members of the New York city employees' retirement system; provides that for New York city uniformed correction/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.

Go to top S04668 Actions:

BILL NOS04668 

&nbsp

02/11/2025REFERRED TO CIVIL SERVICE AND PENSIONS

04/29/2025REPORTED AND COMMITTED TO FINANCE

01/07/2026REFERRED TO CIVIL SERVICE AND PENSIONS

Go to topS04668 Committee&nbspVotes:

Go to topS04668 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04668 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4668

 2025-2026 Regular Sessions

 IN SENATE

 February 11, 2025
 ___________

 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
 service retirement benefits for certain 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:

 1 Section 1. Section 505 of the retirement and social security law, as
 2 amended by chapter 18 of the laws of 2012, is amended to read as
 3 follows:
 4 § 505. Service retirement benefits; police/fire members, New York city
 5 uniformed correction/sanitation revised plan members and investigator
 6 revised plan members. a. The normal service retirement benefit for
 7 police/fire members, New York city uniformed correction/sanitation
 8 revised plan members and investigator revised plan members at normal
 9 retirement age shall be a pension equal to fifty percent of final aver-
 10 age salary, less fifty percent of the primary social security retirement
 11 benefit commencing at age sixty-two, as provided in section five hundred
 12 eleven of this article, except that for New York city uniformed
 13 correction/sanitation revised plan members of the New York city employ-
 14 ees' retirement system, the normal service retirement benefit shall not
 15 be reduced by the primary social security retirement benefit commencing
 16 at age sixty-two as provided in section five hundred eleven of this
 17 article.
 18 b. The early service retirement benefit for police/fire members, New
 19 York city uniformed correction/sanitation revised plan members and
 20 investigator revised plan members shall be a pension equal to two and
 21 one-tenths percent of final average salary times years of credited
 22 service at the completion of twenty years of service or upon attainment
 23 of age sixty-two, increased by one-third of one percent of final average
 24 salary for each month of service in excess of twenty years, but not in

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04080-03-5

 S. 4668 2

 1 excess of fifty percent of final average salary, less fifty percent of
 2 the primary social security retirement benefit commencing at age sixty-
 3 two as provided in section five hundred eleven of this article,
 4 provided, however, that New York city police/fire revised plan members,
 5 New York city uniformed correction/sanitation revised plan members and
 6 investigator revised plan members shall not be eligible to retire for
 7 service prior to the attainment of twenty years of credited service, and
 8 provided further that for New York city uniformed correction/sanitation
 9 revised plan members of the New York city employees' retirement system,
 10 the early service retirement benefit shall not be reduced by the primary
 11 social security retirement benefit commencing at age sixty-two as
 12 provided in section five hundred eleven of this article.
 13 c. A police/fire member, a New York city uniformed
 14 correction/sanitation revised plan member or an investigator revised
 15 plan member who retires with twenty-two years of cr