Bill > S04667

This bill modifies retirement benefits for New York City uniformed sanitation revised plan members in the New York City Employees' Retirement System (NYCERS). Specifically, the bill eliminates the current practice of reducing retirement benefits by 50% of the primary Social Security retirement benefit that begins at age 62. Under the existing law, when sanitation workers retire, their pension would be calculated by subtracting half of their expected Social Security benefit from their final pension amount. The new legislation removes this reduction for normal service retirement, early service retirement, and deferred vested benefits for these specific sanitation workers. This change means affected members will receive a higher retirement benefit, as their pension will no longer be offset by their anticipated Social Security payment. The bill will take effect 60 days after becoming law, and its fiscal note indicates it will increase employer contributions to the retirement system, with an estimated total present value of benefits increase of $254.2 million. The change will impact approximately 5,074 active NYCERS sanitation members, with an average age of 39.9 years and average salary of $94,500.

Budget and Finance, Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S4667