STATE OF NEW YORK
________________________________________________________________________
5361
2015-2016 Regular Sessions
IN SENATE
May 13, 2015
___________
Introduced by Sen. SAVINO -- read twice and ordered printed, and when
printed to be committed to the Committee on Cities
AN ACT to amend the administrative code of the city of New York, in
relation to the continuance of retirement allowance upon election to
public office by members of the New York fire department pension fund
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The administrative code of the city of New York is amended
2 by adding a new section 13-341.1 to read as follows:
3 § 13-341.1 Continuance of retirement allowance upon election to public
4 office. Notwithstanding the provisions of any general, special, local
5 law, New York city charter, New York city administrative code or rule or
6 regulation to the contrary, the payment of any pension from the fire
7 department pension fund, subchapter one of this chapter, shall not be
8 revoked, repealed or diminished by reason of the pensioner holding or
9 receiving any compensation as the result of his or her election to a
10 public office under the state of New York, or of any city, county or
11 other political subdivision, agency or board of the state of New York.
12 § 2. This act shall take effect immediately.
FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
This proposed legislation would amend Administrative Code of the City
of New York ("ACNY") by adding Section 13-341.1 to allow that the
payment of any pension from the New York Fire Department Pension Fund
("FIRE") shall not be revoked, repealed or diminished by reason of the
pensioner holding or receiving any compensation as the result of his or
her election to a public office under the state of New York, or of, any
city, county or other political subdivision, agency or board of the
state of New York.
Note: The provisions of this proposed legislation for retired members
of FIRE are similar to those currently in law under ACNY Section 13-250
for retired members of the New York City Police Pension Fund.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09935-02-5
S. 5361 2
Currently, a retired member of FIRE may have their pension limited due
to post-retirement limitations imposed by New York City Charter Section
1117 or by Retirement and Social Security Law Sections 211 and 212. This
proposed legislation, if enacted, would remove these limitations in the
case of elections to a public office as described in the legislation.
The Effective Date of the proposed legislation would be the date of
enactment.
FINANCIAL IMPACT - ACTUARIAL PRESENT VALUE OF BENEFITS, EMPLOYER
NORMAL COST, ACTUARIAL ACCRUED LIABILITY AND EMPLOYER CONTRIBUTIONS: As
the Actuary expects that few retired members will be affected by this
legislation, the enactment of this proposed legislation is expected to
result in little or no change in the Actuarial Present Value of Bene-
fits, Employer Normal Cost, Actuarial Accrued Liability or employer
contributions to FIRE.
STATEMENT OF ACTUARIAL OPINION: I, Michael J. Samet, am a Fellow of
the Society of Actuaries and a Member of the American Academy of Actuar-
ies. I meet the Qualification Standards of the American Academy of
Actuaries to render the actuarial opinion contained herein.
FISCAL NOTE IDENTIFICATION: This estimate is intended for use only
during the 2015 Legislative Session. It is Fiscal Note 2015-25, dated
May 6, 2015.
