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NY S06956
Bill
Status
6/13/2025
Primary Sponsor
Christopher Ryan
Click for details
AI Summary
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Increases the post-retirement earnings limit for retired public employees who return to public service positions from $35,000 to $50,000, effective 2025 and thereafter
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Allows retirees under age 65 earning up to $50,000 annually in public employment to continue receiving their full pension benefits without suspension
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Applies to members of the New York State and Local Employees' Retirement System, Police and Fire Retirement System, Teachers' Retirement System, and New York City Retirement Systems
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Estimated annual cost of $91.2 million (0.45% of payroll) for the Teachers' Retirement System and approximately $11,250-$12,000 per rehired retiree for state and local retirement systems
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Fiscal notes warn that if retirees change retirement patterns (retiring earlier to take advantage of the higher limit), additional costs could increase employer billing rates significantly
Legislative Description
Relates to increasing the earnings limitation for positions of public service; increases the earnings limitation from $35,000 to $65,000 in 2027 and thereafter.
Last Action
PRINT NUMBER 6956C
3/9/2026