Bill
Bill > A06419
NY A06419
NY A06419Relates 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
04/06/2023
04/06/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
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 increases the earnings limitation for retired persons in positions of public service from $35,000 to $50,000, starting in the year 2024 and thereafter. The bill amends the Retirement and Social Security Law to raise the earnings cap, which allows retired individuals to earn more income from public service jobs without affecting their retirement benefits. This change is expected to have a fiscal impact, with an estimated annual cost of $87.6 million or 0.45% of payroll for the New York State Teachers' Retirement System if the bill is enacted.
Committee Categories
Labor and Employment
Sponsors (8)
Al Stirpe (D)*,
Karl Brabenec (R),
Chris Burdick (D),
Marianne Buttenschon (D),
Aileen Gunther (D),
Brian Maher (R),
John McDonald (D),
Steve Otis (D),
Last Action
print number 6419b (on 05/23/2024)
Bill Topics
Labor and Employment
- ‐ Employee Benefits
Social Welfare
- ‐ Retirement Issues
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/A6419 | 04/06/2023 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A06419&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A06419B | 05/25/2024 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A06419&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A06419A | 06/01/2023 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A06419&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A06419 | 04/06/2023 |
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