New York A 5580: Authorizes state reimbursement to the Jasper-Troupsburg central school district for the purchase of school buses

Bill Text

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A05580 Summary:

BILL NOA05580 

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SAME ASNo Same As

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SPONSORAngelino

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COSPNSRManktelow, DeStefano, Morinello, Gallahan, Brown E, Blankenbush, Brabenec, Pirozzolo, Chang,
 McDonough, Hawley, Palmesano, Brown K, Tague, Chludzinski, Maher, Santabarbara

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MLTSPNSR

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Amd §212, R & SS L

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Increases the amount of money a public retirement system retiree may earn in a position of public service in the year 2025 and thereafter to $100,000.

Go to top A05580 Actions:

BILL NOA05580 

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02/18/2025referred to governmental employees

01/07/2026referred to governmental employees

Go to topA05580 Committee&nbspVotes:

Go to topA05580 Floor&nbspVotes:

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

Go to topA05580 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5580

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 18, 2025
 ___________

 Introduced by M. of A. ANGELINO -- read once and referred to the Commit-
 tee on Governmental Employees

 AN ACT to amend the retirement and social security law, in relation to
 increasing the retiree public earnings cap

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

 1 Section 1. Subdivision 2 of section 212 of the retirement and social
 2 security law, as amended by chapter 589 of the laws of 2019, is amended
 3 to read as follows:
 4 2. The earning limitations for retired persons in positions of public
 5 service under this section shall be in accordance with the following
 6 table:

 7 For the year Earnings limitation
 8 1996 $12,500
 9 1997 $13,500
 10 1998 $14,500
 11 1999 $15,500
 12 2000 $17,000
 13 2001 $18,500
 14 2002 $20,000
 15 2003 $25,000
 16 2004 $27,500
 17 2005 and 2006 $27,500
 18 2007 through 2019 $30,000
 19 2020 [and thereafter]
 20 through 2024 $35,000
 21 2025 and thereafter $100,000
 22 § 2. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04243-02-5

 A. 5580 2

 This bill would allow a retired person of the New York State and Local
 Retirement System who returns to public employment with an annual salary
 of $100,000 or less to continue to receive their full retirement bene-
 fit. Currently, the salary limit is $35,000.
 Additionally, pursuant to Section 5-b of the Legislative Law, this
 proposal would increase the outside earnings permitted by members of the
 New York State Legislature to $100,000.
 Insofar as this bill affects the New York State and Local Employees
 Retirement System (NYSLERS), if this bill were enacted during the 2025
 Legislative Session, the direct cost incurred would be the retiree's
 pension benefit paid while post-retirement earnings are between $35,000
 and $100,000 each calendar year. The pension benefit expected to be paid
 by the NYSLERS during that 6-month period is estimated to be $22,250 per
 person.
 In addition to the direct cost quoted above, there would be additional
 costs in the form of lost employer contributions due to non-billable
 post-retirement earnings, which is estimated to be $9,750 per person.
 In the NYSLERS, pursuant to Section 25 of the Retirement and Social
 Security Law, the increased costs would be borne entirely by the State
 of New York and would require an itemized appropriation sufficient to
 pay the cost of the provision. For each retiree rehired pursuant to this
 proposal, an annual cost of $32,000 is expected.
 Insofar as this bill affects the New York State and Local Police and
 Fire Retirement System (NYSLPFRS), if this bill were enacted during the
 2025 Legislative Session, the direct cost incurred would be the
 retiree's pension benefit paid while post-retirement earnings are
 between $35,000 and $100,000 each calendar year. The pension benefit
 expected to be paid by the NYSLPFRS during that 5-month period is esti-
 mated to be $32,500 per person.
 In addition to the direct cost quoted above, there would be additional
 costs in the form of lost employer contributions due to non-billable
 post-retirement earnings, which is estimated to be $19,500 per person.
 In the NYSLPFRS, all costs will be shared by the State of New York an