New York A 8765: Relates to the final average salary calculation for Triborough bridge and tunnel members

Bill Text

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A08765 Summary:

BILL NOA08765A

&nbsp

SAME ASSAME AS S08149-B

&nbsp

SPONSORPheffer Amato

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §608, R & SS L

&nbsp

Provides for an alternate final average salary calculation for Triborough bridge and tunnel members where such calculation includes certain dates.

Go to top A08765 Actions:

BILL NOA08765A

&nbsp

06/02/2025referred to governmental employees

01/07/2026referred to governmental employees

04/23/2026amend and recommit to governmental employees

04/23/2026print number 8765a

Go to topA08765 Committee&nbspVotes:

Go to topA08765 Floor&nbspVotes:

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

Go to topA08765 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8765--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 June 2, 2025
 ___________

 Introduced by M. of A. PHEFFER AMATO -- read once and referred to the
 Committee on Governmental Employees -- recommitted to the Committee on
 Governmental Employees in accordance with Assembly Rule 3, sec. 2 --
 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
 the final average salary calculation for Triborough bridge and tunnel
 members

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

 1 Section 1. Section 608 of the retirement and social security law is
 2 amended by adding a new subdivision f to read as follows:
 3 f. Notwithstanding the provisions of subdivisions a and b of this
 4 section, with respect to a Triborough bridge and tunnel member, as
 5 defined in subdivision a of section six hundred four-c of this article,
 6 as amended by chapter six hundred ninety-three of the laws of two thou-
 7 sand twenty-three, such member's final average salary computation that
 8 includes the period beginning with the second pay period in March two
 9 thousand twenty and ending with the second pay period in December two
 10 thousand twenty-one, shall include for such period the greater of the
 11 amount earned by such member during such period or computed using such
 12 member's wages for such period plus a projected amount of overtime equal
 13 to the number of hours included in such member's pay for the same pay
 14 period in two thousand twenty-two multiplied by such member's wages for
 15 the pay period for which the projection is being made. A member whose
 16 retirement benefit is based upon a final average salary that includes
 17 projected overtime, as computed pursuant to this subdivision, shall
 18 remit to the New York city retirement system all member contributions,
 19 basic member contributions, and additional member contributions that
 20 would have been due had such member rendered such overtime service,
 21 provided that such member shall not be required to remit such contrib-

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10890-05-6

 A. 8765--A 2

 1 utions for overtime service for which such member rendered served and
 2 previously paid such contributions, and provided further that no inter-
 3 est shall be due or owing on such contributions. A member may request a
 4 final average salary estimate and a contribution estimate from the New
 5 York city employees' retirement system. Such estimate shall be provided
 6 to the requesting member within sixty days of its request.
 7 § 2. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 SUMMARY: This proposed legislation would potentially increase Final
 Average Salary for Tier 4 and Tier 6 NYCERS members in the Triborough
 Bridge and Tunnel Authority (TBTA) 20-Year Plans whose overtime during
 2022 exceeded overtime during the period beginning in March 2020 and
 ending in December 2021.

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

 Year NYCERS
 2027 751.3
 2028 740.3
 2029 733.0
 2030 726.2
 2031 22.0
 2032 17.5
 2033 13.5
 2034 9.9
 2035 7.2
 2036 5.4
 2037 4.1
 2038 2.9
 2039 2.0
 2040 1.4
 2041 1.0
 2042 0.6
 2043 0.4
 2044 0.3
 2045 0.2
 2046 0.1
 2047 0.1
 2048 0.0
 2049 0.0
 2050 0.0
 2051 0