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NY A10465
Bill
Status
5/29/2024
Primary Sponsor
Stacey Pheffer Amato
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AI Summary
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Removes the requirement that New York City Tier 3 police and fire enhanced plan members must be eligible for primary Social Security disability benefits (SSDI) to receive ordinary disability retirement benefits.
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Allows Tier 3 members with at least five years of credited service to qualify for ordinary disability retirement based on Medical Board determination instead of SSDI eligibility.
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Ordinary disability benefit calculation remains unchanged: the greater of 33.33% of final average salary or 2% of final average salary times years of credited service, reduced by 100% of workers' compensation benefits.
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Expected to increase employer contributions by $3.4 million in 2025, growing to $14.1 million by 2049, with all costs allocated to New York City.
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Takes effect immediately upon enactment.
Legislative Description
Removes eligibility or receipt of primary social security disability benefits as a condition for ordinary disability retirement for New York city enhanced plan members in active service who are not eligible for a normal retirement benefit and have completed five years or more of service.
Last Action
referred to governmental employees
5/29/2024