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History
- Referred to civil service and pensions
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Limits the maximum post-retirement earnings of public employees
In Assembly Committee · Ways And Means · Sponsor Robert Sweeney
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6925
Title of bill
An act to amend the retirement and social security law, in relation to the employment of retired persons
Purpose or general idea of bill
This will be the first increase in the post-retirement earnings limit since 2007. The increase is tied to inflation over the period from 2007-2012. This bill would increase the sum that public retirees can earn without diminution of retirement benefits.
Summary of specific provisions
This bill would amend subdivision 2 of section 212 of the retirement and social security law. Specifically, this legislation would authorize a retired person to earn up to $32,500 (starting in 2012) without loss, suspension or diminution of their retirement allowance.
Justification
Under current law, retirees may earn up to $30,000 without diminution of retirement earnings. This legislation would continue a yearly pattern of granting retirees an increase in what they can earn. As a result, it would extend a program which has seen significant cost savings to states and localities, whereby they can hire back experienced employees at a dramatically reduced cost and without benefits. This will be the first increase in the post-retirement earnings limit since 2007. The increase is tied to inflation over the period from 2007-2012.
Additionally, it should be noted that the dollar limitations expressed in this section of the retirement and social security law have traditionally tracked earning limitation amounts in federal law for social security recipients. Congress, however, in a series of reform measures passed in the late 1990's, has completely removed such limitation amounts.
Additionally, pursuant to subdivision one of this section 212, there are also no earning-limitations on or after the calendar year in which any retired person attains age sixty-five.
Prior legislative history
2009-10: Ways and Means 2007-08: Ways and Means
Fiscal implications
De Minimis, see fiscal notes.
Effective date
This Act shall take effect immediately and shall be deemed to have been in full force and effect on and after January 1, 2012.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.