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Sponsors
1 Co-sponsor
History
- Referred to governmental employees
- Delivered to assembly
- Passed senateVote 61–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.591
- Print number 5532a
- Amend and recommit to civil service and pensions
- Referred to civil service and pensions
- Committed to rules
- Advanced to third reading
- 2nd report cal.
Show 2 earlier actions
- 1st report cal.446
- 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.
Decreases the minimum amount of time required before a service retirement may become effective and certain retirees may begin to receive their retirement
In Assembly Committee · Ways And Means · 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 decreasing the minimum amount of time required before a service retirement may become effective and retirees of certain retirement systems may begin to receive their retirement
Purpose
Decreases from 30 days to 15 days the minimum amount of time within which a service retirement may take effect for a prospective retiree of the New York State and Local Employees' Retirement System or the New York State and Local police and Fire Retirement System.
Summary of provisions
Section 1 of this bill amends subdivision a of section 70 of the retirement and social security law to reduce from 30 days to 15 days the minimum amount of time within which a service retirement may take effect for a prospective retiree who is a member of the New York State and Local Employees' Retirement System.
Section 2 of this bill amends subdivision a of section 370 of the retirement and social security law to reduce from 30 days to 15 days the minimum amount of time within which a service retirement may take effect for a prospective retiree who is a member of the New York State and Local Police and Fire Retirement System.
Section 3 of this bill provides for an immediate effective date.
Justification
In the electronic age we live in, a thirty day waiting period before a service retirement may take effect for a member of the New York State and Local Employees' Retirement System or the New York State and Local police and Fire Retirement System is unnecessary. The laws governing other retirement systems, such as the New York State Teachers' Retirement System, allow a retirement to become effective on the date the application is filed. By reducing from thirty days to fifteen days the minimum amount of time within which a prospective retiree who is a member of the New York State and Local Employees' Retirement System or the New York State and Local Police and Fire Retirement System must wait before an application for retirement becomes effective, this bill would help such members who are potentially no longer on the state pay roll receive their pension in a more timely fashion.
Fiscal implications
This bill would decrease the minimum amount of time required before a service retirement may become effective for members of the New York and Local Employees' Retirement System (NYSLERS) and the New York State and Local Police and Fire Retirement System (NYSLPFRS). The current minimum of days would be replaced by 15 days.
If this bill is enacted, there will be minimal administrative costs.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.