NY A07416

Removes earnings restrictions from private employment for retired uniformed personnel of the NYC Department of Correction who receive disability benefits under specific retirement plans (Early Service Retirement Benefit Plan, Correction Officer 20-Year Plan, or Correction Captain 20-Year Plan).

Applies only to earnings from employment not in public service that occur after the date a retiree would have been eligible for service retirement.

Eliminates suspension of disability pension payments that currently occurs when retirees' total personal service income exceeds the annual NYCERS limit (set at $34,200 in 2022, adjusted annually for inflation).

Retirees remain subject to other earnings restrictions, including New York City Charter Section 1117 which limits public employment earnings to $1,800 per year.

Estimated to increase annual employer contributions by approximately $15,100 based on eight affected retirees with average suspended pension amounts of $16,000 per year.