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- Referred to civil service and pensions
- Referred to civil service and pensions
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Provides that an eligible member of the public retirement system may buy service credit for certain military service with two years of credited service
In Assembly Committee · Governmental Employees · Sponsor Michael Cusick
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the retirement and social security law, in relation to allowing an eligible member of the public retirement system to obtain service credit for certain military service if such person has two years of credited service
Purpose
To provide an eligible member of the retirement system with the opportunity to purchase service credit for certain military service with at least two years of credited service instead of the current five.
Summary of provisions
This bill would act as an amendment to Section 1. Subdivision 3 of section 1000 of the retirement and social security law, as added by chapter 548 of the laws of 2000, to provide those members whom have at least two years of credited service to purchase service credit for military service. By doing so, the additional military service credit could provide a vested retirement benefit where a retirement benefit would previously not have existed. This bill would affect the New York State and Local Employees' Retirement System as well as the New York State and Local Police and Fire Retirement System. The cost attributed to the members will depend upon the coverage plan selected, the salary and the age of the members whom will be receiving an increased benefit. This cost will be shared by both the State of New York and all participating employers in the New York State and Local Employees' Retirement System and the New York and Local Police and Fire Retirement System.
Justification
The purpose of this bill is to aid those whom have courageously served the United States in the military and provide the opportunity to accredit them service credit only after two years spent working for the Retirement System. By shorting the period of time necessary to purchase the service credit to two years, this bill allows those members whom had not attained a minimum of five years of service to purchase credit earlier.
Bill history
New bill. S.6812 of 2007/2008; delivered to Assembly, Referred to Governmental Employees.
Fiscal implications
See fiscal note.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.