New York S 6631: Provides for cost-of-living adjustments

Bill Text

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S06631 Summary:

BILL NOS06631 

&nbsp

SAME ASSAME AS A05875

&nbsp

SPONSORJACKSON

&nbsp

COSPNSRBROUK

&nbsp

MLTSPNSR

&nbsp

Amd §§78-a & 378-a, R & SS L; amd §532-a, Ed L; amd §13-696, NYC Ad Cd

&nbsp

Provides for cost-of-living adjustments; provides that the base benefit amount shall be increased annually by reference to the consumer price index for each applicable calendar year beginning on September 1, 2025.

Go to top S06631 Actions:

BILL NOS06631 

&nbsp

03/19/2025REFERRED TO CIVIL SERVICE AND PENSIONS

01/07/2026REFERRED TO CIVIL SERVICE AND PENSIONS

Go to topS06631 Committee&nbspVotes:

Go to topS06631 Floor&nbspVotes:

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

Go to topS06631 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6631

 2025-2026 Regular Sessions

 IN SENATE

 March 19, 2025
 ___________

 Introduced by Sens. JACKSON, BROUK -- 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, the education
 law and the administrative code of the city of New York, in relation
 to providing cost-of-living adjustments

 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 78-a of the retirement and social
 2 security law, as added by chapter 125 of the laws of 2000, is amended to
 3 read as follows:
 4 c. Said cost-of-living adjustment shall be computed on a base benefit
 5 amount [not to exceed] of eighteen thousand dollars of the annual
 6 retirement allowance defined in subdivision b of this section, provided,
 7 however, such base benefit amount shall be increased annually by refer-
 8 ence to the consumer price index (all urban consumers, CPI-U, U.S. city
 9 average, all items, 1982-84=100), published by the United States
 10 bureau of labor statistics, for each applicable calendar year beginning
 11 on September first, two thousand twenty-five. The annual percentage
 12 increase to the base amount shall equal fifty percent of the annual
 13 inflation, as determined from the increase in the consumer price index
 14 in the one year period ending on the March thirty-first prior to the
 15 cost-of-living adjustment effective on the ensuing September first.
 16 Said percentage shall then be rounded up to the next higher one-tenth of
 17 one percent and shall not exceed three percent nor be less than one
 18 percent.
 19 § 2. Subdivision c of section 378-a of the retirement and social secu-
 20 rity law, as added by chapter 125 of the laws of 2000, is amended to
 21 read as follows:
 22 c. Said cost-of-living adjustment shall be computed on a base benefit
 23 amount [not to exceed] of eighteen thousand dollars of the annual

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08199-02-5

 S. 6631 2

 1 retirement allowance defined in subdivision b of this section, provided,
 2 however, such base benefit amount shall be increased annually by refer-
 3 ence to the consumer price index (all urban consumers, CPI-U, U.S. city
 4 average, all items, 1982-84=100), published by the United States
 5 bureau of labor statistics, for each applicable calendar year beginning
 6 on September first, two thousand twenty-five. The annual percentage
 7 increase to the base amount shall equal fifty percent of the annual
 8 inflation, as determined from the increase in the consumer price index
 9 in the one year period ending on the March thirty-first prior to the
 10 cost-of-living adjustment effective on the ensuing September first.
 11 Said percentage shall then be rounded up to the next higher one-tenth of
 12 one percent and shall not exceed three percent nor be less than one
 13 percent.
 14 § 3. Subdivision c of section 532-a of the education law, as added by
 15 chapter 125 of the laws of 2000, is amended to read as follows:
 16 c. Said cost-of-living adjustment shall be computed on a base benefit
 17 amount [not to exceed] of eighteen thousand dollars of the annual
 18 retirement allowance defined in subdivision b of this section, provided,
 19 however, such base benefit amount shall be increased annually by refe