New York S 5058: Affords certain members of the fire department pension fund with new or increased pension benefits for each year of additional service beyond their required minimum service

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S05058 Summary:

BILL NOS05058A

&nbsp

SAME ASSAME AS A05853-A

&nbsp

SPONSORJACKSON

&nbsp

COSPNSRSCARCELLA-SPANTON

&nbsp

MLTSPNSR

&nbsp

Amd §13-359, NYC Ad Cd; add §503-a, R & SS L

&nbsp

Affords certain members of the fire department pension fund with new or increased pension benefits for each year of additional service beyond their required minimum service.

Go to top S05058 Actions:

BILL NOS05058A

&nbsp

02/18/2025REFERRED TO CIVIL SERVICE AND PENSIONS

04/29/2025REPORTED AND COMMITTED TO FINANCE

01/07/2026REFERRED TO CIVIL SERVICE AND PENSIONS

04/29/2026AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS

04/29/2026PRINT NUMBER 5058A

Go to topS05058 Committee&nbspVotes:

Go to topS05058 Floor&nbspVotes:

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

Go to topS05058 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5058--A

 2025-2026 Regular Sessions

 IN SENATE

 February 18, 2025
 ___________

 Introduced by Sens. JACKSON, SCARCELLA-SPANTON -- read twice and ordered
 printed, 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

 AN ACT to amend the administrative code of the city of New York, in
 relation to affording certain uniformed members of the New York city
 fire department pension fund with an increased pension benefit for
 each year of additional service beyond their required minimum service;
 and to amend the retirement and social security law, in relation to
 affording certain police/fire members of the New York city fire
 department pension fund to continue in service past normal retirement
 age with an additional pension benefit for each year of additional
 service beyond their required minimum service

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

 1 Section 1. Subparagraph (a) of paragraph 2 of subdivision a of section
 2 13-359 of the administrative code of the city of New York is amended to
 3 read as follows:
 4 (a) a pension of [one-sixtieth] one-fortieth of [his or her] such
 5 member's average annual earnings from [his or her] their date of eligi-
 6 bility for retirement to the actual date of retirement; and
 7 § 2. The retirement and social security law is amended by adding a new
 8 section 503-a to read as follows:
 9 § 503-a. Extra pension service credits. Notwithstanding any provision
 10 of law to the contrary, a police/fire member who is a member of the New
 11 York city fire department pension fund may continue in service past the
 12 date that such member attains normal retirement age. In such event, and
 13 upon the member's retirement for any cause whatsoever, there shall be
 14 added to such member's annual pension to which they shall upon retire-

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00091-03-6

 S. 5058--A 2

 1 ment be entitled, an additional amount computed at the rate of one-for-
 2 tieth of such member's final salary for each year of such additional
 3 service.
 4 § 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 SUMMARY: This proposed legislation would increase the additional annu-
 al pension for Tier 2 FIRE members from 1/60th to 1/40th after reaching
 20 years of credited service and would provide Tier 3 FIRE members an
 additional 1/40th of "final salary" benefit for each year of service
 beyond 20 years of service.

 EXPECTED INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS
 by Fiscal Year for the first 25 years ($ in Millions)
 Year FIRE
 2027 159.3
 2028 163.7
 2029 168.3
 2030 172.9
 2031 177.6
 2032 182.5
 2033 187.4
 2034 192.5
 2035 197.8
 2036 203.1
 2037 208.3
 2038 213.5
 2039 218.8
 2040 129.2
 2041 134.4
 2042 139.6
 2043 144.7
 2044 149.8
 2045 154.8
 2046 159.7
 2047 164.6
 2048 169.5
 2049 174.3
 2050 179.3
 2051 184.2

 Projected contributions include future new hires that may be impacted.
 For Fiscal Year 2052 and beyond, the expected increase in normal cost as
 a level percent of pay for impacted new en