Bill Text: NY S04124 | 2023-2024 | General Assembly | Introduced

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Bill Title: Increases the amount of money a public retirement system retiree may earn in a position of public service in the year 2024 and thereafter to $50,000.

Spectrum: Moderate Partisan Bill (Republican 9-1)

Status: (Introduced) 2024-01-03 - REFERRED TO CIVIL SERVICE AND PENSIONS [S04124 Detail]

Download: New_York-2023-S04124-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          4124

                               2023-2024 Regular Sessions

                    IN SENATE

                                    February 3, 2023
                                       ___________

        Introduced  by  Sens. LANZA, BORRELLO, HELMING -- 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
          increasing the retiree public earnings cap

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Subdivision 2 of section 212 of the retirement and social
     2  security law, as amended by chapter 589 of the laws of 2019, is  amended
     3  to read as follows:
     4    2.  The earning limitations for retired persons in positions of public
     5  service under this section shall be in  accordance  with  the  following
     6  table:

     7          For the year               Earnings limitation
     8              1996                         $12,500
     9              1997                         $13,500
    10              1998                         $14,500
    11              1999                         $15,500
    12              2000                         $17,000
    13              2001                         $18,500
    14              2002                         $20,000
    15              2003                         $25,000
    16              2004                         $27,500
    17              2005 and 2006                $27,500
    18              2007 through 2019            $30,000
    19              2020 [and thereafter]
    20              through 2023                 $35,000
    21              2024 and thereafter          $50,000
    22    § 2. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06500-01-3