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A10294Assembly2009-2010 Session

Provides Joseph DelGiorno the opportunity to purchase retirement credit for time in U.S. military service during the Korean conflict

Sponsor Robert BarraAD-14Affects Finance
Status
In Assembly Committee
Governmental Employees
Impact
Pending
Passage
Pending

Bill progress

Step 2 of 7

In committee · Governmental Employees

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Who cares

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Sponsors

Primary sponsor
Robert Barra

Assembly Member · Assembly District 14

No co-sponsors yet.

History

  1. Held for consideration in governmental employees
  2. Referred to governmental employees

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:A10294

Title of bill

An act in relation to providing retirement credit to Joseph DelGiorno for military service during the Korean conflict

Purpose or general idea of bill

Provides Joseph DelGiorno the opportu- nity to purchase retirement credit for time in U.S. Military service during the Korean conflict.

Summary of specific provisions

Section 1. Notwithstanding any other provision of law, Joseph DelGiorno, a retired member of the New York state teachers' retirement system, having retired in 1988; and who served in the United States military during the Korean Conflict; shall be entitled to receive credit for his time of Korean Conflict service if, on or before December 31, 2008 he:

(1) shall file a request to such effect with the head of the New York state teachers' retirement system; and

(2) shall pay to the New York state teachers' retirement system an amount equal to the product of the number of years of military service being claimed and three percent of his annual rate of compensation imme- diately preceding his retirement.

Justification

Those who served in our country's military during periods of war or military hostilities gave to assure the future of our country and people seeking freedom. They risked death and injury in their service to their country. The citizens of the state owed these brave individuals a debt of gratitude. The ability to receive service credit in the state's public retirement systems is a proper avenue to show that gratitude. In this way, the state honors its commitment to our veterans. World War II veterans have had an opportunity to buy back service at a reasonable cost.

Fairness is reinstated in a plan to give recognition to the efforts of our state's veterans and allow veterans to improve their retirement to assure a greater financial security in retirement. This bill would allow a retired member, Joseph DelGiorno, of a public retirement system to buy military time toward his retirement.

Prior legislative history

New Bill. A7988A 05/08/08 - Referred to Government Employees.

Fiscal implications

The cost of this benefit is equal to the net increase in the present value of liabilities, which is estimated to be $6,100.

Effective date

This act shall take effect immediately, and the increase in the benefits shall begin on and after such effective date.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.