Bill
A 3352
Overview: A 3352, Relates to establishing a variable supplements fund for sanitation members of the New York city employees' retirement systemPurpose and Intent: This bill aims to
Overview: A 3352, Relates to establishing a variable supplements fund for sanitation members of the New York city employees' retirement system
Purpose and Intent: This bill aims to create a variable supplements fund for sanitation workers who are members of the New York City Employees' Retirement System (NYCERS). The fund would provide additional retirement benefits to eligible sanitation workers.
Key Provisions:
- Establishes a variable supplements fund for sanitation members of NYCERS
- Provides a monthly variable supplement payment to eligible retirees, in addition to their regular pension benefits
- Sets the initial variable supplement payment at $12,000 per year, with potential for future increases
- Requires the city to make annual contributions to the variable supplements fund
Affected Parties and Impacts:
- Current and future sanitation workers who are members of NYCERS will be eligible for the variable supplement payments upon retirement
- The variable supplement will provide a significant boost to the retirement income of eligible sanitation workers
- The city will need to allocate additional funding to contribute to the variable supplements fund
Procedural and Timeline Considerations:
- The bill has been referred to the Assembly Governmental Employees Committee for further consideration
- If passed, the variable supplements fund would be established, and eligible retirees would begin receiving the additional payments
Compiled from official sources — confirm details with the bill’s official record.
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