New York A 10392: Relates to participation in the shared work program under the unemployment insurance law

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A10392 Summary:

BILL NOA10392 

&nbsp

SAME ASSAME AS S09202

&nbsp

SPONSORPheffer Amato

&nbsp

COSPNSRGriffin

&nbsp

MLTSPNSR

&nbsp

Add §15-110.1, NYC Ad Cd

&nbsp

Provides for longevity bonuses relating to first grade firefighters and promotions from the firefighter rank.

Go to top A10392 Actions:

BILL NOA10392 

&nbsp

03/03/2026referred to governmental employees

Go to topA10392 Committee&nbspVotes:

Go to topA10392 Floor&nbspVotes:

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

Go to topA10392 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10392

 IN ASSEMBLY

 March 3, 2026
 ___________

 Introduced by M. of A. PHEFFER AMATO -- read once and referred to the
 Committee on Governmental Employees

 AN ACT to amend the administrative code of the city of New York, in
 relation to first grade firefighters and promotions from the fire-
 fighter rank

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The administrative code of the city of New York is amended
 2 by adding a new section 15-110.1 to read as follows:
 3 § 15-110.1 Longevity bonuses. a. Notwithstanding any provision of law
 4 to the contrary, when a member shall have accrued twenty-five years of
 5 uniformed service with the New York city fire department, and retires in
 6 any rank, they shall have five per centum of the highest grade of pay
 7 under the applicable collective bargaining agreement of such rank in
 8 which they retire, added to the applicable salary used for the purposes
 9 of computing pension benefits under the plan in which they are enrolled
 10 with the New York city fire department pension fund.
 11 b. In addition to the increase set forth in subdivision a of this
 12 section, commencing with the twenty-sixth year of service and for each
 13 year thereafter, such member shall receive an additional one per centum
 14 of the highest grade of pay under the applicable collective bargaining
 15 agreement of such rank in which they retire for each year exceeding
 16 twenty-five years, added to the applicable salary used for the purposes
 17 of computing pension benefits under the plan in which they are enrolled
 18 with the New York city fire department pension fund, provided, however,
 19 that the total additional credit provided by this subdivision does not
 20 exceed fifteen per centum and shall be capped upon the completion of
 21 thirty-five years of uniformed service with the department.
 22 § 2. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 SUMMARY: This proposed legislation, as it relates to the New York City
 Fire Pension Fund (FIRE), would increase the salary used for determining
 pension benefits for members who retire with at least 25 years of
 uniformed FIRE service.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14801-02-6

 A. 10392 2

 EXPECTED INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS
 by Fiscal Year for the first 25 years ($ in Millions)

 Year FIRE
 2027 0.0
 2028 3.2
 2029 6.4
 2030 9.8
 2031 13.3
 2032 16.8
 2033 20.5
 2034 24.3
 2035 28.1
 2036 32.0
 2037 36.0
 2038 40.0
 2039 44.1
 2040 48.2
 2041 52.4
 2042 53.6
 2043 54.7
 2044 55.8
 2045 56.8
 2046 57.9
 2047 58.9
 2048 60.0
 2049 61.1
 2050 62.2
 2051 63.4

 Employer Contribution impact beyond Fiscal Year 2051 is not shown.
 Projected contributions are based on historical experience for Tier
 2 members. Future retirement patterns may differ due to a shift in
 population from Tier 2 to Tier 3.

 The entire increase in employer contributions will be allocated to New
 York City.
 PRESENT VALUE OF BENEFITS: The Present Value of Benefits (PVFB) is the
 discounted expected value of benefits paid to current members if all
 assumptions are met, including future service accrual and pay increases.
 The enactment of this proposed legislation is expected to increase the
 PVFB by approximately $26.8 million in the first year and every year
 thereafter, adjusted for inflation, group demographics, and the actual
 experience of benefiting retirees. Each year's PVFB increase will be
 recognized in the year benefits are first payable.
 UNFUNDED ACCRUED LIABILITY (UAL)