Bill > S08586

This bill provides a temporary retirement incentive for certain public employees in New York. Part A of the bill allows public employers to offer eligible employees in certain positions a retirement incentive of up to 3 years of additional service credit. Part B of the bill provides an age 55/25 years temporary retirement incentive for eligible public employees, allowing them to retire without the usual age-based reductions in pension benefits. The bill is intended to achieve cost savings for public employers and avoid layoffs during the current fiscal challenges.