New York 2025-2026 Regular Session

New York Senate Bill S07661

Introduced
4/25/25  
Refer
4/25/25  

Caption

Removes post-retirement earnings restrictions for New York city department of correction uniformed personnel with respect to a retiree subsequent to such member's earliest eligibility date for service retirement.

Impact

The immediate implication of S07661, if passed, would be the enhancement of financial independence for retired correction personnel who are currently receiving disability benefits. It is designed to enable beneficiaries to increase their income through private employment without risking suspension of their benefits. The estimated average pension allowance for impacted individuals is approximately $23,100 annually, which could provide substantial financial relief, particularly in light of the rising cost of living.

Summary

Bill S07661 proposes to amend the retirement and social security law to remove post-retirement earnings restrictions for uniformed personnel of the New York City Department of Correction. Specifically, the bill targets those who are receiving ordinary disability benefits from the New York City Employees' Retirement System (NYCERS) after they reach their service retirement eligibility date. This legislative change aims to allow these retirees greater flexibility in earning income from private sector employment without the burden of previously imposed limitations.

Contention

Notably, there are potential points of contention surrounding the bill, mainly regarding the fiscal impact on the retirement system and overall benefits structure. Critics may raise concerns about the sustainability of the NYCERS given the proposed benefits expansion and the uncertainty regarding how many retirees would opt to return to the workforce under the new regulations. In light of the existing economic pressures, the bill's authors might need to assure stakeholders that ample safeguards will be put in place to ensure the pension system remains viable.

Fiscal_note

The bill's fiscal note outlines that the annual costs could vary significantly based on the salary of re-employed retirees and the number of individuals choosing to return to work. Factors such as actuarial assumptions and demographic changes will play a critical role in determining the long-term feasibility of the proposed amendments to benefit structure. Continuing discussions during legislative sessions will likely address the risks associated with potential overhauls of existing retirement policies.

Companion Bills

NY A08441

Same As Removes post-retirement earnings restrictions for New York city department of correction uniformed personnel with respect to a retiree subsequent to such member's earliest eligibility date for service retirement.

Previously Filed As

NY S07115

Removes post-retirement earnings restrictions for New York city department of correction uniformed personnel with respect to a retiree subsequent to his or her earliest eligibility date for service retirement.

NY A07416

Removes post-retirement earnings restrictions for New York city department of correction uniformed personnel with respect to a retiree subsequent to his or her earliest eligibility date for service retirement.

NY S05492

Relates to service retirement benefits for certain members of the New York city employees' retirement system; provides that for New York city uniformed correction/sanitation revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

NY A05678

Relates to service retirement benefits for certain members of the New York city employees' retirement system; provides that for New York city uniformed correction/sanitation revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

NY S05791

Provides that for New York city uniformed correction revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

NY A05929

Provides that for New York city uniformed correction revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.

NY S06877

Permits a member of the New York city teachers' retirement system, the New York city employees' retirement system, or the New York city board of education retirement system who is eligible to join any other retirement system maintained by the city due to a separate, concurrent eligible employment with a participating employer to become a member of the subsequent city funded retirement system provided such benefits in the first system of membership are suspended during their active membership in the subsequent retirement system.

NY A07311

Permits a member of the New York city teachers' retirement system, the New York city employees' retirement system, or the New York city board of education retirement system who is eligible to join any other retirement system maintained by the city due to a separate, concurrent eligible employment with a participating employer to become a member of the subsequent city funded retirement system provided such benefits in the first system of membership are suspended during their active membership in the subsequent retirement system.

NY S08818

Provides that the normal service retirement benefit for police/fire members who are members of the New York city fire department pension fund shall be paid to such members of the New York city fire department pension fund without regard to age upon retirement after twenty years of service.

NY A10018

Provides that the normal service retirement benefit for police/fire members who are members of the New York city fire department pension fund shall be paid to such members of the New York city fire department pension fund without regard to age upon retirement after twenty years of service.

Similar Bills

No similar bills found.