BILL NUMBER: S4667
SPONSOR: JACKSON
 
TITLE OF BILL:
An act to amend the retirement and social security law, in relation to
service retirement benefits for uniformed sanitation members of the New
York city employees' retirement system
 
PURPOSE:
To remove a statutory reduction totaling 50t of the primary social secu-
rity benefit imposed on the early service, normal service, and vested
retirement benefits for Tier 3 sanitation members of the New York City
Employees Retirement System (NYCERS).
 
SUMMARY OF PROVISIONS:
Section 1 amends Section 505 of the Retirement and Social Security Law
to remove the Social Security offset for the normal service and early
service benefit of Tier 3 sanitations members.
Section 2 adds a new subdivision h to Section 511 of the Retirement and
Social Security Law to exempt Tier 3 sanitation members from provisions
imposing the Social Security offset.
Section 3 amends subdivision c of Section 516 of the Retirement and
Social Security Law to remove the Social Security offset for the
deferred vested benefit of Tier 3 sanitations members.
Section 4 - shall not apply to the calculation of such participating
employer's contribution rate for the purposes of subdivision c of
section 500 of the retirement and social security law.
Section 5 is the effective date.
 
JUSTIFICATION:
Under the New York City Tier 3 original, revised, and enhanced plans for
sanitation members, retirees are subject to a reduction in retirement
benefits equal to 50%. of the primary Social Security benefit commencing
at age 62. Uniformed sanitation officers who were employed prior to 2012
are not subject to this offset. Therefore, this legislation would estab-
lish equity in the pension system.
 
LEGISLATIVE HISTORY:
2024 Reported to Finance 2023- Reported to Finance
 
STATE AND LOCAL FISCAL IMPLICATIONS:
 
EFFECTIVE DATE:
This act shall take effect on the sixtieth day after it shall have
become a law.

Statutes affected:
S4667: 505 retirement and social security law, 511 retirement and social security law