Permits deferral of vacation days for certain members of the retirement system

BILL NUMBER:S5406A

Title of bill

An act to amend the retirement and social security law, in relation to the deferral of vacation days for certain members of the retirement system

Purpose

This bill would allow uniformed persons, uniformed personnel, or security hospital treatment assistants the option of postponing the use of up to five vacation days per year and taking a monetary payment in lieu thereof on the date of retirement

Summary of provisions

This bill amends the retirement and social security law, by adding a new subdivision 89-1

Justification

Employees should have the option of postponing the use of some of their vacation days each year and taking a monetary payment at retirement. As vacation days are earned by, and earned through an employee's work, should an employee opt not to use their vacation days throughout the year they should be entitled to receive compensation at the end of their employment. In addition, when an uniformed employee takes a vacation day, the employer must have a replacement on duty, often at a wage that is higher than standard pay, which means the employer is incurring additional costs. The employee deferral of the vacation day is a financial benefit for the state that should be incentivized.

Legislative history

New Bill

Fiscal implications

See the bill.

Effective date

This act shall take effect immediately.