Chapter 589 of the Laws of 2019 – Increases the earnings cap for retirees in positions of public service for 2020 and thereafter

This law amends the Retirement and Social Security Law (RSSL) § 212 (2) by increasing the amount a retiree may earn in public employment without reduction to their pension, in the year 2020 and thereafter, to $35,000 from $30,000.

This law took effect December 6, 2019.

Chapter 249 of the Laws of 2019 – Increases the number and eligibility of physicians authorized to be appointed to the Medical Board

This bill amends §13-123 of the Administrative Code of the City of New York to increase the number of physicians that can be appointed by the Board, the Commissioner of Health and the Commissioner of Citywide Administrative Services from five to eight each. In addition, it amends the statute to allow the Medical Board to be comprised of any three physicians from the pool of physicians appointed.

This law is effective as of September 16, 2019. 

Chapter 382 of the Laws of 2019 – Increases certain special accidental death benefits

This law amends the Retirement and Social Security Law (RSSL) § 361-a(c) and General Municipal Law (GML) § 208-f(c) by increasing the deceased member’s salary used in the computation of the special accidental death benefit by adding to it an additional percentage. The beneficiaries of the following NYCERS members are covered: Correction Officers, Housing and Transit Police, Uniformed Sanitation members, certain EMTs and TBTA members. 

This law is effective as of July 1, 2019. 

Chapter 76 of the Laws of 2019 – Extension of the interest rates used by the Chief Actuary for NYCERS

This bill extends for two fiscal years, until June 30, 2021, the 7% rate of interest used by the Chief Actuary for NYCERS in valuing the retirement system liabilities for the purpose of computing the amount of employer contributions. The bill also extends for two fiscal years the rate of interest to be paid into certain constituent funds of the City retirement systems and the amount of interest to be credited on AMCs and ITHP reserves for Tier 1 and Tier 2 members. 

This law is effective as of July 1, 2019.