Relates to an optional twenty year retirement plan for members of the New York state and local police and fire retirement system

BILL NUMBER:S5091

Title of bill

An act to amend the retirement and social security law, relating to an optional twenty-year retirement plan for members of the New York state and local police and fire retirement system and to amend chapter 504 of the laws of 2009, amending the retirement and social security law relating to police and fire retirement provisions

Purpose

To ensure all firefighters in NYS are treated equally as it pertains to the enactment of the 2003 Tier V legislation

Summary of provisions

Amends retirement and social security law by adding a new section 334-f to grant professional firefighters not subject to a collective bargaining agreements the same rights as those subject to collective bargaining agreements with respect to electing an optional retirement plan pursuant to RSSL Section 384-d.

Justification

In 2009 the legislature passed a new tier V pension bill for public employees Tier V placed firefighters hired after January 2010 into the tier V plan. Those firefighters hired between July 1, 2005 and the effective date of Tier V (January 9, 2010) working under a current collective bargaining agreement were provided the opportunity to elect or remain in a non-contributory twenty year plan until the expiration of their respective contracts. This same protection was not afforded firefighters working without a collective bargaining agreement, For example, Buffalo professional Firefighters have operated honorably without a new collective bargaining agreement since 2001.

This bill would afford the same opportunities to such professional firefighters as those working pursuant to a collective bargaining agreement. This bill would not apply to any member in Tier VI.

Legislative history

none

Fiscal implications

See fiscal note

Effective date

This act shall take effect immediately