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NY A06957
Bill
Status
Introduced
3/17/2009
Primary Sponsor
Peter Abbate
Click for details
AI Summary
- Amends Section 212 of the Retirement and Social Security Law to increase the earnings limitation for retired persons employed in public service from $30,000 to $32,500 for calendar year 2010 and thereafter
- Allows retired public employees to earn up to $32,500 annually without reduction, suspension, or loss of their retirement allowances
- Earnings limitations do not apply once a retiree reaches age 65 in any calendar year
- Takes effect immediately and is retroactive to January 1, 2010
- Estimated financial impact is de minimis for most retirement systems, with the New York City Retirement Systems projected to increase payouts by less than $150,000 annually
Legislative Description
Increases the amount of money a retiree may earn in a position of public service in the year 2010 and thereafter to $32,500.
Last Action
held for consideration in ways and means
7/1/2010
Committee Referrals
Ways and Means5/18/2010
Governmental Employees1/6/2010
Ways and Means4/28/2009
Governmental Employees3/17/2009
Full Bill Text
No bill text available