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NY A05879
Bill
Status
2/24/2025
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 members of NYC police, fire, correction, sanitation, and investigator pension plans who are part of 22-year retirement plans
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Currently, these members' pension benefits are reduced by 50% of their 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 approximately $155.6 million in fiscal year 2026, growing to $282.8 million by fiscal year 2050, with all costs allocated to New York City
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Affects approximately 35,674 active members across NYCERS (8,320), Police (21,782), and Fire (5,572) pension systems, plus over 1,800 terminated vested members
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Takes effect 60 days after becoming law
Legislative Description
Provides that for New York city police/fire members, uniformed correction/sanitation revised plan and investigator 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
print number 5879a
3/11/2026