Bill > A08765

This bill amends the retirement and social security law to provide an alternate method of calculating final average salary (FAS) for Triborough Bridge and Tunnel Authority (TBTA) members. Specifically, for members in the 20-Year Plan, the bill allows them to calculate their FAS for the period between the second pay period in March 2020 and the second pay period in December 2021 using either their actual earnings during that time or a projected overtime amount. The projected overtime would be calculated by multiplying the number of overtime hours worked in 2022 by the member's wages for the corresponding pay period. Members who choose this calculation method must remit the employee contributions that would have been due for the additional overtime, though they will not be required to pay contributions for overtime they have already paid, and no interest will be charged. The bill also allows members to request a final average salary and contribution estimate from the New York City Employees' Retirement System, which must be provided within 60 days. The fiscal note indicates this change could potentially increase pension benefits for 161 active TBTA members and will result in increased employer contributions to the retirement system.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A8765