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NY A05561
Bill
Status
2/14/2025
Primary Sponsor
Stacey Pheffer Amato
Click for details
AI Summary
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Eliminates the 50% Social Security offset from retirement benefits for Tier 3 uniformed correction and sanitation members of the New York City Employees' Retirement System (NYCERS)
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Currently, retirement benefits for these members are reduced by 50% of their primary Social Security benefit starting at age 62; this bill removes that reduction for normal, early, and deferred vested retirement benefits
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Increases employer contributions by $57.1 million in fiscal year 2026, rising to $85 million by fiscal year 2050, with all costs allocated to New York City
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Affects approximately 8,239 active members and 785 terminated vested members as of June 2024
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Takes effect 60 days after becoming law
Legislative Description
Relates to service retirement benefits for certain members of the New York city employees' retirement system; provides that for New York city uniformed correction/sanitation revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.
Last Action
referred to governmental employees
1/7/2026