New York S 8134: Relates to the retirement contributions of career public employees

Bill Text

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S08134 Summary:

BILL NOS08134 

&nbsp

SAME ASNo Same As

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SPONSORJACKSON

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COSPNSRSANDERS

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MLTSPNSR

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Amd §§517, 613 & 1204, R & SS L; amd §§182, 392 & 6252, Ed L

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Provides that retirement contributions of public employees with ten or more years of service shall be three per centum per annum.

Go to top S08134 Actions:

BILL NOS08134 

&nbsp

05/15/2025REFERRED TO CIVIL SERVICE AND PENSIONS

01/07/2026REFERRED TO CIVIL SERVICE AND PENSIONS

Go to topS08134 Committee&nbspVotes:

Go to topS08134 Floor&nbspVotes:

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

Go to topS08134 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8134

 2025-2026 Regular Sessions

 IN SENATE

 May 15, 2025
 ___________

 Introduced by Sens. JACKSON, SANDERS -- 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 and the education
 law, in relation to the retirement contributions of career public
 employees

 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 517 of the retirement and social
 2 security law, as amended by chapter 18 of the laws of 2012, the second
 3 undesignated paragraph as amended by section 1 of part KK of chapter 55
 4 of the laws of 2024, is amended to read as follows:
 5 a. Members shall contribute three percent of annual wages to the
 6 retirement system in which they have membership, provided that such
 7 contributions shall not be required for more than thirty years, for
 8 general members, or twenty-five years, for police/fire members, except
 9 that beginning April first, two thousand thirteen for members who first
 10 become members of the New York state and local employees' retirement
 11 system on or after April first, two thousand twelve, the rate at which
 12 each such member shall contribute in any current plan year (April first
 13 to March thirty-first) shall be determined by reference to the wages of
 14 such member in the second plan year (April first to March thirty-first)
 15 preceding such current plan year as follows:
 16 1. members with wages of forty-five thousand dollars per annum or less
 17 shall contribute three per centum of annual wages;
 18 2. members with wages greater than forty-five thousand per annum, but
 19 not more than fifty-five thousand per annum shall contribute three and
 20 one-half per centum of annual wages;
 21 3. members with wages greater than fifty-five thousand per annum, but
 22 not more than seventy-five thousand per annum shall contribute four and
 23 one-half per centum of annual wages;

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11201-02-5

 S. 8134 2

 1 4. members with wages greater than seventy-five thousand per annum but
 2 not more than one hundred thousand per annum shall contribute five and
 3 three-quarters per centum of annual wages; and
 4 5. members with wages greater than one hundred thousand per annum
 5 shall contribute six per centum of annual wages.
 6 Notwithstanding the foregoing, during each of the first three plan
 7 years (April first to March thirty-first) in which such member has
 8 established membership in the New York state and local employees'
 9 retirement system, such member shall contribute a percentage of annual
 10 wages in accordance with the preceding schedule based upon a projection
 11 of annual wages provided by the employer. Notwithstanding the foregoing,
 12 when determining the rate at which each such member who became a member
 13 of the New York state and local employees' retirement system on or after
 14 April first, two thousand twelve shall contribute for any plan year
 15 (April first to March thirty-first) between April first, two thousand
 16 twenty-two and April first, two thousand twenty-six, such rate shall be
 17 determined by reference to employees annual base wages of such member in
 18 the second plan year (April first to March thirty-first) preceding such
 19 current plan year. Base wages shall include regular pay, shift differen-
 20 tial pay, location pay, and any increa