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NY S09634
Bill
Status
5/16/2024
Primary Sponsor
Robert Jackson
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AI Summary
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Removes the requirement that Tier 3 police and fire enhanced plan members must be eligible for primary Social Security disability benefits (SSDI) to qualify for ordinary disability retirement (ODR).
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Applies to New York City enhanced plan members in active service with at least five years of credited service who are not eligible for normal retirement benefits.
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ODR benefit formula remains unchanged: 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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Shifts eligibility determination from SSDI approval to the Medical Board as the responsible authority for approving ODR benefits.
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Projected to increase employer pension contributions by $3.4 million in 2025, growing to $14.1 million annually by 2049, with costs allocated entirely to New York City.
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
RECOMMITTED TO RULES
6/7/2024