Bill > S06289

This bill amends the retirement and social security law to modify how primary social security retirement benefits are calculated for members of the New York City Fire Department Pension Fund. Specifically, the bill eliminates the standard practice of reducing retirement benefits by 50% of the primary social security retirement benefit that typically begins at age 62. Under the current law, when firefighters retire, their pension is calculated by subtracting half of their expected social security benefit from their total pension. The new legislation removes this reduction for New York City fire department members, meaning they will receive their full calculated pension without the social security benefit offset. The bill applies to normal service retirement benefits, early service retirement benefits, and deferred vested benefits. The fiscal note indicates this change will increase employer contributions, with an estimated initial increase of $140.4 million and ongoing annual increases ranging from $10.6 million to $30 million over 25 years. The bill is designed to provide more comprehensive retirement benefits for New York City firefighters by ensuring they receive their full calculated pension without the social security benefit reduction.

Budget and Finance, Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S6289