Chapter 91 - Earnings Limitations for 1999

Chapter 91 of the Laws of 1998 (enacted June 9, 1998) provides that retired persons who return to public service can earn for the year 1996-$12,500; 1997-$13,500; 1998-$14,500 and 1999-$15,500 without diminution of their pension. 

 

Chapter 300 - Retirement Credit for Workers Comp Leave -TBTA & NYCTA

Chapter 300 of the Laws of 1998 (enacted July 14, 1998) provides that certain TBTA and NYC Transit Authority members shall be deemed to receive, for the purposes of retirement credit, contribution and final average salary their full compensation or salary for the time on workers compensation. The member must contribute the required member contribution on the full compensation.

 

Chapter 313 - COLA for Special Accidental Death Benefit Beneficiaries

Chapter 313 of the Laws of 1998 (enacted , 1998 provides for a COLA for certain Special Accidental Death Benefits payable on or after July 1, 1998 for line of duty widows, widowers or surviving children. 

 

Chapter 329 - Additional Benefits for 50/20 TBTA

Chapter 329 of the Laws of 1998 (enacted July 14, 1998) provides additional benefits for those TBTA members choosing to retire after the age of 50 after 20 years of service. Chapter 329 amends Section 445-d (d) and Section 604-c (e) of the Retirement and Social Security Law. It is effective immediately.

The new legislation provides that should a TBTA member (Tier 2 & 4) have a deficit in reserves, he or she can retire after the three-year minimum service requirement set in 445-d and 604-c has expired. Rather than taking an actuarial reduction, the member can then elect to receive his or her full pension and pay off the deficit with interest in monthly installments over a period of up to nine years. The member also has the option to make a partial payment at retirement only and or a total lump sum payment at any time during the payment period.

 

Chapter 266 - 2% Retirement Benefit for 20 Years

Chapter 266 of the Laws of 1998 (enacted July 10, 1998) amends subdivisions a and b of Section 604 of the RSSL to allow Tier 4 members with 20 or more years of credited service to retire with a benefit formula of 2% of final average salary per year of service. Prior to enactment of Chapter 266, Article 15 required 25 years of service to qualify for the 2% formula.

It also adds Section 617 to the RSSL. This section allows members who have retired on or before August 31, 1983 under Tier 3 (Service, Ordinary Disability, Accidental Disability), with the exception of correction force members and investigative members, to elect to have his or her benefits recalculated from the time of retirement. The recalculation of benefits will be based on the option selection originally filed for retirement.

To elect the recalculation, the member shall, on or before December 31, 1999, file a request for the recalculation in the form prescribed by the head of the retirement system.

This law is effective immediately.

 

Chapter 379 - Transfers between NYCERS and BERS to Any NYSERS

Chapter 379 of the Laws of 1998 (enacted July 14, 1998) provides that any member of NYCERS OR BERS who retired as a member of the career pension plan (Plan A or C) and who has not received a pension payment (this does not refer to payments from ARF) from that system, will be allowed to transfer his or her membership to another NYS retirement system.

This covers those former Career Pension Plan (CPP) members of NYCERS and BERS who currently are deferred service retirees, and have not yet received a pension payment. The former CPP member will be able to rescind their retirement application in NYCERS and BERS and then transfer their retirement system membership to another NYS retirement system. In doing so, their retirement service credit and applicable Tier status would be transferred to the other system.

Such retired members must have started working in a position covered by the other NYS retirement system within 5 years of retiring from NYCERS (10 years with 25 years of credited service).

This law is effective immediately. 

 

Chapter 388 - Vested Death Benefit

Chapter 388 of the Laws of 1998 (enacted July 17, 1998) provides a pre-retirement death benefit for Tier 2, 3, and 4 vested members who are out of service, and who die on or after January 1, 1997 but prior to retirement and have at least 10 years of credited service at the time of death. The death benefit will be one-half of the ordinary death benefit payable if the member had died on the last day of service upon which the membership was based. The benefit will be payable to the estate or the designated beneficiaries.

This law is effective immediately. 

 

Chapter 389 - Five-Year Vesting Tier 3 and 4

Chapter 389 of the Laws of 1998 (enacted July 17, 1998) allows NYCERS Tier 3 and 4 members as of June 30, 1998 to vest after 5 years of total service. Members with between 5 and 10 years of service may still terminate their membership and receive a refund of their accumulated deductions.

However, as before, a member with 10 or more years of credited service may not receive a refund of his or her accumulated deductions. This statute also reduces the Tier 3 & 4 service requirement for retirement from 10 years to 5 years. Since purchased credit is not credited until a Tier 3 or 4 member has completed 5 years of membership (or transferred) service, purchased service will not be a factor in this new 5-year vesting.

Note: For NYC-TRS Tier 1 & 2 members only Chapter 389 Section reduces vesting from 15 years to 5 years and eliminated the requirement that at least five of the years of service must immediately precede termination.

This law is effective immediately. 

 

Chapter 390 - COLA Increase

Chapter 390 of the Laws of 1998 (enacted July 17, 1998) provides for a Cost of Living Adjustment to be paid to pensioners who retired in 1992. Such COLA is payable commencing with the September 1998 (pursuant to a resolution adopted by the City Council), and thereafter.

The COLA is to be applied to the maximum retirement allowance, computed without optional modification, and computed on the basis of the first $13,500 of such annual retirement allowance. It is payable to all disability pensioners and to all other pensioners who have attained age 62 or who have been retired for 10 or more years and have attained age 55.

The following year, effective September, 1999, the COLA will be applied to the maximum retirement allowance, computed without optional modification and computed on the basis of the first $14,000 of such annual retirement allowance. It also is payable to all disability pensioners and to all other pensioners who have attained age 62 or have been retired for 10 or more years and have attained age 55. 

 

Chapter 546 - Heart Bill for Correction Members

Chapter 546 of the Laws of 1998 (enacted August 5, 1998) provides that members of the uniformed correction force who are disabled by diseases of the heart are presumed to have become disabled in the line of duty and are entitled to a benefit of salary. The presumption may be rebutted by competent medical evidence.

 

Chapter 587 - EMT Line of Duty Disability

Chapter 587 of the Laws of 1998 (enacted August 8, 1998) provides for a line of duty disability benefit for Emergency Medical Technicians by adding a new section 607-b of the Retirement and Social Security Laws.

Subdivision A provides that an EMT who becomes physically or mentally incapacitated on or after March 17, 1996 as a natural and proximate cause of an injury sustained in the performance of his duties shall be paid a disability retirement allowance equal to 3/4 of FAS.

Subdivision B provides that a member who contracts HIV (where the member may have been exposed to bodily fluid of a person under his care or treatment or while the member examined, transported or had contact with such person in the performance of duties), tuberculosis or hepatitis, will be presumed to have contracted such disease in the performance of duties unless the contrary be proven by competent evidence. The member will receive 3/4 FAS.

 

Chapter 607 - Medical Review for Tier 4 Members

Chapter 607 of the Laws of 1998 (enacted September 30, 1998) provides for final medical review of the NYCERS Medical Board’s determination for Tier 4 members. Such final medical review shall be substantially similar to the medical review provided for Tier 1 & 2 members and shall be administered by NYCERS.