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S4732Senate2013-2014 Session

Limits the maximum post-retirement earnings of public employees

Sponsor John A. DeFranciscoSD-50+2 co-sponsorsAffects Finance
Status
In Senate Committee
Rules
Impact
Pending
Passage
Pending

Bill progress

Step 2 of 7

In committee · Rules

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Sponsors

Primary sponsor
John A. DeFrancisco

Senator · Senate District 50

Chair, Finance

History

  1. Committed to rules
  2. Amended on third reading 4732a
  3. Vote reconsidered - restored to third reading
  4. Returned to senate
  5. Recalled from assembly
  6. Referred to governmental employees
  7. Delivered to assembly
  8. Passed senateVote 58–0
  9. Advanced to third reading
  10. 2nd report cal.
  11. 1st report cal.986
  12. Referred to civil service and pensions
Show 1 earlier action
  1. Referred to civil service and pensions

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:S4732A

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 2007-2013. 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 2014) 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 2007-2013.

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

2011-12: Ways and Means; 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, 2014.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.