Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Nov 20, 2015 |
signed chap.510 |
Nov 10, 2015 |
delivered to governor |
Jun 17, 2015 |
returned to senate passed assembly ordered to third reading rules cal.482 substituted for a7834 |
Jun 10, 2015 |
referred to ways and means delivered to assembly passed senate |
Jun 09, 2015 |
ordered to third reading cal.1428 committee discharged and committed to rules |
May 28, 2015 |
referred to civil service and pensions |
Senate Bill S5692
Signed By Governor2015-2016 Legislative Session
Sponsored By
(D, IP) Senate District
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2015-S5692 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7834
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Amd ยงยง601 & 613, R & SS L
2015-S5692 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5692 TITLE OF BILL: An act to amend the retirement and social security law, in relation to the definition of wages earned from multiple employers and of plan year for the New York city retirement systems Summary of Provisions: This bill amends subdivision 1 of Section 601 of the retirement and social security law to clarify the definition of multiple employers for purposes of exclusion of wages and amends paragraphs I and 2 of subdivision a of section 613 of the retirement and social security law to allow New York city pension funds to utilize the calendar year for the purpose of calculating member contributions. Reasons for Support: The proposed legislation clarifies and facilitates the administration of Tier 6 for the New York city pension funds. First, the proposal to amend subdivision 1 of Section 601 will clarify how state and city pension funds determine what wages are to be included when an employee is receiving wages from three or more employers during the period of one year. This section of the bill does
2015-S5692 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5692 2015-2016 Regular Sessions I N S E N A T E May 28, 2015 ___________ Introduced by Sen. SAVINO -- 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 definition of wages earned from multiple employers and of plan year for the New York city retirement systems THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision l of section 601 of the retirement and social security law, as amended by chapter 18 of the laws of 2012, is amended to read as follows: l. "Wages" shall mean regular compensation earned by and paid to a member by a public employer, except that for members who first join the New York state and local employees' retirement system or the New York state teachers' retirement system on or after January first, two thou- sand ten, overtime compensation paid in any year in excess of the over- time ceiling, as defined by this subdivision, shall not be included in the definition of wages. "Overtime compensation" shall mean, for purposes of this section, compensation paid under any law or policy under which employees are paid at a rate greater than their standard rate for additional hours worked beyond those required, including compensation paid under section one hundred thirty-four of the civil service law and section ninety of the general municipal law. The "over- time ceiling" shall mean fifteen thousand dollars per annum on January first, two thousand ten, and shall be increased by three per cent each year thereafter, provided, however, that for members who first become members of a public retirement system of the state on or after April first, two thousand twelve, "overtime ceiling" shall mean fifteen thou- sand dollars per annum on April first, two thousand twelve, and shall be increased each year thereafter by a percentage to be determined annually by reference to the consumer price index (all urban consumers, CPI-U, U.S. city average, all items, 1982-84=100), published by the United EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11344-01-5
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