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Bill

Bill

S 4779

Relates to establishing a variable supplements fund for sanitation members of the New York city employees' retirement system

2025 Regular Session Introduced by Robert Jackson

Bill S 4779 creates a Variable Supplements Fund to enhance retirement benefits for New York City sanitation workers, ensuring better financial security for their future.

REFERRED TO CIVIL SERVICE AND PENSIONS
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Bill Summary · S 4779

Summary of Bill S 4779

Overview

Bill S 4779 aims to establish a Variable Supplements Fund specifically for sanitation members of the New York City Employees' Retirement System. This fund is intended to provide additional financial support to sanitation workers upon retirement, enhancing their overall retirement benefits.

Purpose and Intent

The primary purpose of this legislation is to recognize the essential services provided by sanitation workers in New York City and to ensure that they receive adequate financial support during retirement. By creating a Variable Supplements Fund, the bill seeks to improve the financial security of these employees, acknowledging the unique challenges and risks associated with their work.

Key Provisions

  • Establishment of the Fund: The bill proposes the creation of a Variable Supplements Fund dedicated to sanitation members of the New York City Employees' Retirement System.
  • Funding Mechanism: While specific funding sources are not detailed in the provided information, the establishment of such a fund typically involves contributions from both the city and its employees.
  • Benefit Structure: The bill outlines that the fund will provide variable supplements to eligible sanitation workers upon retirement, although specific amounts or formulas for calculating benefits are not included in the summary.

Affected Parties

  • Sanitation Workers: The primary beneficiaries of this bill will be sanitation members of the New York City Employees' Retirement System, who will receive enhanced retirement benefits.
  • New York City Government: The city will be responsible for administering the fund and ensuring its financial viability, which may involve budgetary considerations.

Legislative Status

  • Introduced: February 12, 2025
  • Current Status: The bill has been referred to the Civil Service and Pensions committee for further consideration.

Related Legislation

This bill is part of a broader legislative context, with several related bills from prior sessions, including:
- S 6129
- S 2861
- S 5493
- A 3352 (companion bill)

These related bills may provide additional context or similar provisions regarding retirement benefits for public employees.

Conclusion

Bill S 4779 represents a significant step towards enhancing the retirement benefits of sanitation workers in New York City. By establishing a Variable Supplements Fund, the legislation aims to provide these essential workers with greater financial security in their retirement years. As the bill moves through the legislative process, further details regarding funding and benefit structures may be clarified.

Compiled from official sources — confirm details with the bill’s official record.

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