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S2447Senate2015-2016 SessionSame asA6786

Increases the amount of money a retiree may earn in a position of public service to $35,000

Sponsor Hugh T. FarleySD-49+8 co-sponsorsAffects Finance
Status
In Assembly Committee
Governmental Employees
Impact
Pending
Passage
Pending

Bill progress

Step 5 of 7

In Assembly · Governmental Employees

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Sponsors

Primary sponsor
Hugh T. Farley

Senator · Senate District 49

History

  1. Referred to governmental employees
  2. Delivered to assembly
  3. Passed senateVote 57–0
  4. Advanced to third reading
  5. 2nd report cal.
  6. 1st report cal.446
  7. Print number 2447d
  8. Amend and recommit to civil service and pensions
  9. Referred to civil service and pensions
  10. Returned to senate
  11. Died in assembly
  12. Referred to governmental employees
Show 11 earlier actions
  1. Delivered to assembly
  2. Passed senateVote 62–1
  3. Advanced to third reading
  4. 2nd report cal.
  5. Amended 2447c
  6. 1st report cal.1092
  7. Print number 2447b
  8. Amend and recommit to civil service and pensions
  9. Print number 2447a
  10. Amend and recommit to civil service and pensions
  11. 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.

A6786Assembly

Increases the amount of money a retiree may earn in a position of public service to $35,000

In Assembly Committee · Governmental Employees · Sponsor John T. McDonald III

Full text

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

Sponsor's memo

Title of bill

An act to amend the retirement and social security law, in relation to increasing the retiree earnings cap

Purpose

This bill would increase the amount that a public retiree under sixty-five years of age may earn in public employment without a diminution 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 $35,000 in public employment without reducing the retiree's pension.

Existing law

Current law permits such an individual to earn up to $30,000 without a loss of pension benefits.

Justification

Under current law, retirees may earn up to $30,000 from public employment 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.

This legislation would update the amount to account for inflation. The increase reflects the increase in the Consumer Price Index. As a result, it would extend a program which has seen significant cost savings to states and localities by giving them the ability to hire experienced employees at a significantly 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

This bill passed the Senate in 2015.

Fiscal implications

Negligible.

Effective date

Immediately. The legislation would increase the earnings limit beginning with the year 2017.

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