Bill > S04779

This bill establishes a new Sanitation Variable Supplements Fund for retired sanitation workers in New York City, creating a specialized board to manage the fund and make discretionary payments to eligible beneficiaries. The fund is explicitly defined as not being a pension or retirement system, but rather a supplemental payment mechanism for retired sanitation members. The board will consist of four members: a mayoral representative, the city comptroller, and two union representatives (one from the Uniformed Sanitationmen's Association and one from the Sanitation Officers' Association). The board has the power to authorize variable supplement payments at its discretion, considering factors like equity and prudent management. The fund will be financially supported through a calculation based on the New York City Employees' Retirement System's transferable earnings and assets, with payments to the fund potentially being made annually starting in the fiscal year beginning July 1, 2024. The bill emphasizes that these supplements are not guaranteed, can be discontinued at any time, and do not constitute a contractual obligation or pension benefit. The comptroller will serve as the custodian of the fund's assets, and the payments will be subject to approval by the superintendent of financial services.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S4779