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Bill > A08720


NY A08720

NY A08720
Relates to increasing the earnings limitation for positions of public service; increases the earnings limitation from $35,000 to $50,000 in 2025 and thereafter.


summary

Introduced
06/02/2025
In Committee
06/02/2025
Crossed Over
Passed
Dead

Introduced Session

2025-2026 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 public service workers in New York from $35,000 to $50,000 starting in 2025. Currently, retired public employees who return to work are restricted in how much they can earn annually without having their retirement benefits suspended. Under this legislation, retirees can now earn up to $50,000 per year in public service positions before their pension benefits are impacted. The bill applies to various New York retirement systems, including the New York State and Local Employees' Retirement System (NYSLERS), the New York State and Local Police and Fire Retirement System (NYSLPFRS), and New York City retirement systems. While this change provides more flexibility for retirees returning to public service, it is expected to have financial implications for the state, with estimated additional costs ranging from approximately $11,250 to $12,000 per rehired retiree. The bill does not impose an earnings limitation for retirees who are 65 years of age and older, and it aims to support continued public service participation by retired workers while providing them with additional income opportunities.

Committee Categories

Labor and Employment

Sponsors (10)

Last Action

print number 8720a (on 06/10/2025)

bill text


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