This Week in Albany

Week ending April 26, 2019

Legislative Update

State legislators return to Albany next week after spending two weeks in their home districts.

On Tuesday, CSEA will be submitting testimony to a Senate Finance Committee public hearing on the issue of requiring the NYS Common Retirement Fund to divest its assets from fossil fuels. CSEA opposes this proposal.

Additionally, CSEA has a number of bills that we will be strongly advocating for over the next two months, so stay tuned in the coming weeks for more information on our legislative priorities.

Social Security and Medicare Status Update

This week, the Social Security Board of Trustees released its annual report on the current and projected financial status of the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds.

The combined funds are projected to become depleted in 2035, one year later than projected last year, with 80 percent of benefits payable at that time. The DI Trust Fund is estimated to become depleted in 2052, extended 20 years from last year’s estimate of 2032, with 91 percent of benefits still payable.

The report found that the Medicare HI Trust Fund will be able to pay full benefits until 2026, the same as last year’s report.

At a Glance

The state legislature returns to Albany next week, and will be in session for three days. There are 25 scheduled session days remaining in the 2019 legislative session.