Bill
S 6638
Summary of New York Senate Bill S 6638 Bill OverviewS 6638 is a bill that aims to modify the method for calculating certain public employee pensions in the state of New York. The b
S 6638 is a bill that aims to modify the method for calculating certain public employee pensions in the state of New York. The bill was introduced on March 19, 2025 and has been referred to the Civil Service and Pensions committee.
The main changes this bill would make are:
Revising the formula used to determine the final average salary (FAS) that is the basis for calculating pension benefits. The bill would change the FAS calculation from the current 3-year average to a 5-year average.
Increasing the percentage of the FAS used to determine the annual pension payment from 2% per year of service to 2.2% per year.
Allowing public employees to purchase up to 5 years of additional service credit to increase their pension, with the cost based on actuarial factors.
Extending eligibility for a pension supplement paid by the state to certain retirees with over 25 years of service, increasing the income threshold for this supplement.
If enacted, this legislation would impact the pensions of current and future public employees in New York state, including teachers, police, firefighters, and other government workers. The changes to the FAS calculation and pension accrual rate would increase the amount of the monthly pension payment for eligible retirees.
The ability to purchase additional service credit could also allow some employees to retire earlier or receive a higher pension benefit. The expanded pension supplement would provide more financial support for long-serving public sector retirees.
Overall, the bill is aimed at enhancing the pension benefits for New York's public workforce, which supporters argue is necessary to attract and retain talented employees in these critical public service roles. However, the fiscal impact on state and local government budgets would need to be carefully evaluated.
Compiled from official sources — confirm details with the bill’s official record.
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