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NY A05714
Bill
Status
3/22/2023
Primary Sponsor
Stacey Pheffer Amato
Click for details
AI Summary
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Amends retirement law to allow county employers to elect providing improved accidental disability pensions to deputy sheriffs of three-quarters of final average salary instead of the current two-thirds.
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Improved benefit applies only to deputy sheriffs employed by counties that choose to elect this enhanced pension option.
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Pension payments remain subject to existing provisions regarding offsets for workers' compensation benefits.
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Enacting county employers would incur approximately 0.2% annual contribution increase of affected deputy sheriffs' salary, plus a one-time past service cost of approximately 1.0% of salary (estimated payable February 1, 2025).
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Takes effect immediately upon enactment.
Legislative Description
Relates to accidental disability retirement for deputy sheriffs; provides that deputy sheriffs shall receive a pension of three-quarters of their final average salary.
Last Action
reported referred to ways and means
2/27/2024