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S10436 Summary:

BILL NOS10436
 
SAME ASNo Same As
 
SPONSORJACKSON
 
COSPNSR
 
MLTSPNSR
 
Amd §506, R & SS L
 
Provides an ordinary disability benefit for tier 3 enhanced plan members of the New York city fire department pension fund which is equivalent to the tier 2 benefit.
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S10436 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10436
 
                    IN SENATE
 
                                      May 15, 2026
                                       ___________
 
        Introduced  by  Sen. JACKSON -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions
 
        AN ACT to amend the retirement and social security law, in  relation  to
          the  ordinary  disability benefit for enhanced plan members of the New
          York city 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. Subdivision c-1 of section 506 of the retirement and social
     2  security law, as added by chapter 298 of the laws of 2016, is amended to
     3  read as follows:
     4    c-1.  Notwithstanding any inconsistent provision of subdivision a or b
     5  of this section, the ordinary disability benefit for  a  New  York  city
     6  enhanced  plan member in active service who is not eligible for a normal
     7  retirement benefit[, has completed five years or more  of  service,  and
     8  has been determined to be eligible for primary social security disabili-
     9  ty  benefits shall be a pension equal to the greater of (i) thirty-three
    10  and one-third percent of final average salary, or (ii)  two  percent  of
    11  final  average  salary  times years of credited service not in excess of
    12  the maximum years of service  for  computing  service  retirement,  such
    13  benefit  in  each case to be reduced by one hundred percent of any work-
    14  ers' compensation benefits payable] shall be a pension equal to one-for-
    15  tieth of such member's annual  earnable  compensation  on  the  date  of
    16  retirement multiplied by the number of years of city-service credited to
    17  such  member,  but  not  less than (i) one-half of their annual earnable
    18  compensation on the date of retirement, if  the  years  of  city-service
    19  credited  to  such  member  are  ten or more, or (ii) one-third of their
    20  annual earnable compensation on the date of retirement, if the years  of
    21  city-service  credited to such member are less than ten. If the New York
    22  city enhanced plan member had been in active  public  service  prior  to
    23  joining the New York city fire department pension fund, then all contin-
    24  uous public service immediately prior to the date of membership shall be
    25  counted  toward  the  years of city-service credited to such member. For
    26  the purposes of this subdivision, continuous public service  shall  mean
    27  service  during a period in which an employee was not off the payroll of
    28  a public employer for more than thirty days.
    29    § 2. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14743-01-6
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