New York S 6638: Relates to calculating certain pensions

Bill Text

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S06638 Summary:

BILL NOS06638B

&nbsp

SAME ASSAME AS A09273-B

&nbsp

SPONSORGOUNARDES

&nbsp

COSPNSRSANDERS

&nbsp

MLTSPNSR

&nbsp

Amd §§504, 604 & 1312, R & SS L

&nbsp

Relates to calculating certain pensions; increases pension calculation from thirty-five to forty per centum of final average salary.

Go to top S06638 Actions:

BILL NOS06638B

&nbsp

03/19/2025REFERRED TO CIVIL SERVICE AND PENSIONS

01/07/2026REFERRED TO CIVIL SERVICE AND PENSIONS

03/27/2026AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS

03/27/2026PRINT NUMBER 6638A

05/08/2026AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS

05/08/2026PRINT NUMBER 6638B

Go to topS06638 Committee&nbspVotes:

Go to topS06638 Floor&nbspVotes:

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

Go to topS06638 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6638--B

 2025-2026 Regular Sessions

 IN SENATE

 March 19, 2025
 ___________

 Introduced by Sens. GOUNARDES, SANDERS -- read twice and ordered print-
 ed, 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 -- 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
 calculating certain pensions

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

 1 Section 1. Subdivision a of section 504 of the retirement and social
 2 security law, as amended by chapter 18 of the laws of 2012, is amended
 3 to read as follows:
 4 a. The service retirement benefit for general members at normal
 5 retirement age with twenty or more years of credited service shall be a
 6 pension equal to one-fiftieth of final average salary times years of
 7 credited service, not in excess of thirty years, less fifty percent of
 8 the primary social security retirement benefit as provided in section
 9 five hundred eleven of this article. The service retirement benefit for
 10 general members at normal retirement age with twenty or more years of
 11 service who first become members of the New York state and local employ-
 12 ees' retirement system on or after April first, two thousand twelve at
 13 normal retirement age shall be a pension equal to the sum of [thirty-
 14 five] forty per centum and one-fiftieth of final average salary for each
 15 year of service in excess of twenty, but not in excess of thirty, times
 16 final average salary times years of credited service.
 17 § 2. Subdivisions a, b and b-1 of section 604 of the retirement and
 18 social security law, subdivision a as amended and subdivision b-1 as
 19 added by chapter 18 of the laws of 2012, subdivision b as amended by
 20 chapter 266 of the laws of 1998 and the opening paragraph of subdivision

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06549-08-6

 S. 6638--B 2

 1 b as amended by section 8-b of part B of chapter 504 of the laws of
 2 2009, are amended to read as follows:
 3 a. The service retirement benefit at normal retirement age for a
 4 member with less than twenty years of credited service[, or less than
 5 twenty-five years credited service for a member who joins the New York
 6 state teachers' retirement system on or after January first, two thou-
 7 sand ten,] shall be a retirement allowance equal to one-sixtieth of
 8 final average salary times years of credited service. Normal retirement
 9 age for members who first become members of a public retirement system
 10 of the state on or after April first, two thousand twelve shall be age
 11 sixty-three.
 12 b. The service retirement benefit at normal retirement age for a
 13 member with twenty years or more of credited service[, or with twenty-
 14 five or more years credited service for a member who first joins the New
 15 York state teachers' retirement system on or after January first, two
 16 thousand ten,] shall be a retirement allowance equal to one-fiftieth of
 17 final average salary times years of credited serv