BILL NUMBER: S4124
SPONSOR: LANZA
 
TITLE OF BILL:
An act to amend the retirement and social security law, in relation to
increasing the retiree public earnings cap
 
PURPOSE:
This bill would increase the amount that a public retiree
under'sixtyfive years of age may earn in public employment without a
reduction of his or her retirement benefits.
 
SUMMARY OF PROVISIONS:
The bill amends subdivision 2 of Section 212 of the Retirement and
Social Security Law. It would allow a public retiree to earn up to
$50,000 in public employment without reducing the retiree's pension.
 
JUSTIFICATION:
Under current law, retirees may earn up to $30,000 from public employ-
ment without diminution of retirement earnings. From 1996 through 2004
this earnings limit was raised each year. The last time it was increased
was in 2007 when it was raised from $27,500 to $30,000. Increasing the
mount up to $50,000 for retirees under 65 years of age would allow state
and local governments the ability to hire experienced employees at a
significant) reduced cost without paying for employee benefits. Pursuant
to subdivision one of section 212, there are no earning limitations
applicable to retired persons who are age sixty-five or older.
 
LEGISLATIVE HISTORY:
2022: S.4920 - Referred to Civil Service/A.2453 - Referred to Govermen-
tal Employees
2021: S.4920 - Referred to Civil Service/A.2453 - Referred to Govermen-
tal Employees
2020: S.795 -Referred to Civil Service/A.7109 Referred to Governmental
Employees
2019: S.795 - Referred to Civil Service/ A.7109 Referred to Governmental
Employees
2018: S.5725-A - Referred to Civil Service & Pensions / A.7872-A
Referred to Governmental Employees
2017: S.5725 - Died on Third Reading Calendar / A.7872 - Referred to
Governmental Employees
2016: S.4345A - Referred to Civil Service & Pensions
2015: S.4345 - 3rd Reading Calendar
 
FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
Immediately.