New York S 3314: Relates to certain retirement benefits of sheriffs, undersheriffs, deputy sheriffs and correction officers

Bill Text

STATE OF NEW YORK
        ________________________________________________________________________
                                         3314--A
                               2025-2026 Regular Sessions
                    IN SENATE
                                    January 24, 2025
                                       ___________
        Introduced by Sens. GALLIVAN, BORRELLO, GRIFFO, HELMING, RHOADS, WEIK --
          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 retirement and social security law, in  relation  to
          certain  benefits  of  sheriffs,  undersheriffs,  deputy  sheriffs and
          correction officers with credited service  of  more  than  twenty-five
          years
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision c of section 89-p of the retirement and  social
     2  security law, as added by chapter 725 of the laws of 1994, is amended to
     3  read as follows:
     4    c.  Upon  completion  of  twenty-five  years  of such service and upon
     5  retirement, each such member shall receive  a  pension  which,  together
     6  with  an  annuity  which shall be the actuarial equivalent of [] hissuch
     7   accumulated contributions at the time of  []  member'shissuch  member's
     8  retirement  and  an additional pension which is the actuarial equivalent
     9  of the reserved-for-increased-take-home-pay to which  []  hesuch  member
    10  may  then  be  entitled shall be sufficient to provide [] himsuch member
    11  with a retirement allowance equal to one-half  of  []  hissuch  member's
    12  final  average  salary,  provided  however  that  a member with credited
    13  service in excess of  twenty-five  years  shall  receive  an  additional
    14  retirement  allowance equal to one-sixtieth of such member's final aver-
    15  age salary for each year of creditable service in excess of  twenty-five
    16  years,  provided,  however  that  the  pension  payable pursuant to this
    17  section shall not exceed three-quarters of such member's  final  average
    18  .salary
         EXPLANATION--Matter in  (underscored) is new; matter in bracketsitalics
                              [] is old law to be omitted. 
                                                                   LBD01063-03-6

        S. 3314--A                          2
     1    § 2. Subdivision m of section 604 of the retirement and social securi-
     2  ty  law, as added by chapter 725 of the laws of 1994, is amended to read
     3  as follows:
     4    m.  The  early service retirement benefit for a member who is employed
     5  in a county that makes the election provided for  in  subdivision  j  of
     6  section eighty-nine-p of this chapter as a sheriff, undersheriff, deputy
     7  sheriff  or  correction  officer  as defined in section eighty-nine-p of
     8  this chapter shall be a pension equal to one-fiftieth of  final  average
     9  salary  times years of credited service at the completion of twenty-five
    10  years of service  as  such  sheriff,  undersheriff,  deputy  sheriff  or
    11  correction  officer,  [] but not exceeding one-half of his or herplus an
    12  additional retirement allowance equal to one-sixtieth of  such  member's
    13  final  average  salary  for  each  year of credited service in excess of
    14  twenty-five years, provided, however that the pension  payable  pursuant
    15  to  such  section shall not exceed three-quarters of such member's final
    16  .average salary
    17    §  3.  All  past  service  costs  associated  with  implementing   the
    18  provisions  of  this  act  shall  be  borne by the county that makes the
    19  election provided for in subdivision j of section 89-p of the retirement
    20  and social security law.
    21    § 4. Notwithstanding any other provision of law to the contrary,  none
    22  of  the  provisions  of  this  act shall be subject to the appropriation
    23  requirement of section 25 of the retirement and social security law.
    24    § 5. This act shall take effect immediately and  shall  apply  to  all
    25  qualified  members  pursuant  to  sections  one  and two of this act who
    26  retire on or after such date.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would modify the service retirement benefit for  members  of
        the  New  York  State  and  Local Employees' Retirement System (NYSLERS)
        covered by the provisions of Retirement and Social Security  Law  (RSSL)
        section  89-p.