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NY S03144
NY S03144Relates to increasing the earnings limitation for positions of public service; increases the earnings limitation from $35,000 to $50,000 in 2024 and thereafter.
summary
Introduced
01/27/2023
01/27/2023
In Committee
06/06/2024
06/06/2024
Crossed Over
06/06/2024
06/06/2024
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the retirement and social security law, in relation to increasing the earning limitations for retired persons in positions of public service
AI Summary
This bill amends the retirement and social security law to increase the earnings limitation for retired persons in positions of public service from $35,000 to $50,000 in 2024 and thereafter. The purpose of this change is to allow retired individuals to earn more income from public service positions without impacting their retirement benefits. The bill is expected to cost employers of members of the New York State Teachers' Retirement System an estimated $87.6 million or 0.45% of payroll annually if enacted.
Committee Categories
Labor and Employment
Sponsors (17)
John Mannion (D)*,
Joe Addabbo (D),
George Borrello (R),
Iwen Chu (D),
Leroy Comrie (D),
Jeremy Cooney (D),
Nathalia Ferna´ndez (D),
Pete Harckham (D),
Michelle Hinchey (D),
Andrew Lanza (R),
Mario Mattera (R),
Shelley Mayer (D),
Rob Ortt (R),
Tony Palumbo (R),
Rob Rolison (R),
James Skoufis (D),
Bill Weber (R),
Last Action
referred to governmental employees (on 06/06/2024)
Bill Topics
Labor and Employment
- ‐ Employee Benefits
Social Welfare
- ‐ Retirement Issues
Official Document
bill text
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