This bill increases the pension calculation for certain New York state and local government employees who joined after April 1, 2012, with 20 or more years of service. It raises the base percentage used to calculate retirement benefits from 35% to 40% of their final average salary, plus an additional 1/50th of that salary for each year of service beyond 20 years (up to 30 years total). The change directly affects new members of the New York State and Local Employees' Retirement System who meet these service and membership criteria. The law takes effect immediately upon enactment.
Relates to primary social security retirement benefits for certain members; provides that in the computation of the normal service retirement benefit of members of the New York city fire department pension fund, there shall be no reduction for the primary social security retirement benefit.
Bill S 3655 establishes a new 25-year retirement plan for firefighters employed by the Division of Military and Naval Affairs. This plan allows eligible firefighters, including airport firefighters and training and safety officers, to retire after completing 25 years of creditable service. Upon retirement, these members would receive a retirement allowance equal to one-half of their final average salary. The bill specifies that creditable service includes time in their DMNA firefighter roles, service as a paid firefighter in other departments, and certain wartime service. Members have one year from the effective date to elect to join this new plan.
Provides that service retirement benefits for members of the NYC police pension fund shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.
Relates to service retirement benefits for certain members of the New York city employees' retirement system; provides that for New York city uniformed correction/sanitation revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.
This bill creates a presumption that heart disease causing disability or death for certain public safety workers was incurred during their duties. It applies specifically to correction officers, correction supervisors, deputy sheriffs patrol, and their supervisors in New York State who are covered by the state retirement system. Under the bill, if such workers develop heart disease while employed and passed a pre-hire physical showing no heart issues, the disability is automatically presumed work-related for retirement benefit purposes - shifting the burden to prove otherwise to the employer. The law amends retirement system rules to establish this presumption without requiring additional proof from the worker.
This bill creates an optional 20-year retirement plan for New York state correction officers (including employees directly performing correction officer duties). Eligible members can choose this plan within one year of the law's effective date, allowing retirement after 20 years of service or at age 62. Upon retirement, they receive a pension equal to 1/40th of their final average salary per year of service (capped at 50% total), with additional benefits beyond 20 years capped at 75% of final average salary. The state covers the extra costs through additional contributions.
Entitles Dennis Malone, an employee of the Town of Clarkstown who retired from such service on August 16, 2018, and who participated in the World Trade Center rescue, recovery and cleanup operations to a 75% accidental disability retirement benefit.
This bill creates a special optional retirement plan for New York State correction officers (and others performing correction duties). It allows eligible members to retire after 20 years of service (or at age 62) and receive a pension equal to 1/40th of their final average salary per year of service (capped at 50% of that salary). Members with over 20 years of service get an additional pension of 1/60th of final salary per extra year (capping total benefits at 75% of final salary). The state will pay additional contributions to cover these enhanced benefits, calculated by the retirement system's actuary. The plan is optional and does not affect existing retirement rules for other state employees.
Provides that for New York city uniformed sanitation revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.