Bill > A05879

This bill amends the retirement and social security law to eliminate the reduction of service retirement benefits for specific groups of New York City public employees, including police and fire department members, uniformed correction and sanitation workers, and investigators in the New York City Employees' Retirement System. Currently, these employees' retirement benefits are reduced by 50% of their primary Social Security retirement benefit that begins at age 62. The bill removes this reduction, which means these public safety and municipal workers will receive their full pension without the Social Security offset. This change will increase the retirement benefits for these employees, effectively providing them with a more substantial pension. The fiscal note indicates this will result in increased employer contributions, with an estimated total increase of $155.6 million in the first year, gradually changing over 25 years. The bill will take effect 60 days after becoming law, and the additional costs will be allocated to New York City. The change applies to Tier 3 members of these specific retirement systems and is based on actuarial calculations using 2021 actuarial assumptions.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A5879