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Sponsors
Senator · Senate District 3
No co-sponsors yet.
History
- Print number 7639a
- Amend and recommit 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 temporary retirement incentive for certain public employees
In Assembly Committee · Governmental Employees · Sponsor Philip Ramos
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to provide temporary retirement incentive for certain public employees
Purpose
This bill provides for an early retirement incentive for teachers, at local option.
Summary of provisions
Section one provides the title.
Section two provides the legislative findings. Section three provides definitions.
Section four provides that this early retirement incentive is at local option.
Section five provides eligibility requirements.
Section six provides that eligible employees who are members of the teachers retirement system, who have attained the age of 55, and have 25 years of service, may retire without penalty.
Section seven provides that the educational employers responsible for payment shall have five years to pay for this incentive, beginning March 31, 2018.
Section eight provides that this act shall have no effect on contractual agreements that were collectively bargained prior to the effective date of this act.
Section nine is the severability clause.
Section ten provides that this act shall take effect immediately.
Justification
Similar to the early retirement incentive that was offered in 2010, this legislation provides that educational employers may opt to offer an early retirement incentive to teachers who are members of the teachers retirement system, who have attained the age of 55, and have completed 25 years of service.
Legislative history
New bill.
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.