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History
- Print number 5243a
- Amend and recommit to civil service and pensions
- 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.
Allows Tier II and Tier V members of the New York state and local police and fire retirement system to retire at age 55 with 30 or more years of service with no reduction
In Assembly Committee · Governmental Employees · Sponsor Peter Abbate
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 eligibility for service retirement benefits for certain public employees
Purpose
Allows Tier 2 members of the New York State and Local Police and Fire Retirement System to retire prior to age 62, but not earlier than age 55, with thirty or more years of service.
Summary of provisions
Section one amends 442(b) of the Retirement and Social Security Law, by adding that members of the New York State and Local Police and Fire Retirement System may retire without reduction of benefits at the age of 55 with thirty or more years of service.
Justification
Current law provides that a member of the New York State and Local Employees' Retirement System or a member of the New York State Teachers' Retirement System may retire without reduction of retirement benefits upon the attainment of at least 55 years of age and completion of thirty or more years of service. This bill would offer members of the New York State Police and Fire Retirement System this same benefit.
Legislative history
1998: A.6920A/S.3960A Passed Assembly 1999: A.3564/S.2072 Passed Assembly 2000: A.3564A/S.2072A Passed Assembly 2002: S.1438A/A.10197 Senate Third Reading Calendar 2003: S.2228/A.4487 Senate Third Reading Calendar 2004: S.2228A/A.4487A Veto 242 of 2004 2005: A.5430 Passed Assembly 2006: A.5430A Vetoed by Governor (Veto 362) 2007: A.5967 Passed Assembly 2008: A.5967A Passed Assembly
Fiscal implications
It is estimated that there may be increases in annual contributions of approximately $12.8 million to the participating employers in the New York State and Local Police and Fire Retirement System.
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.