Bill > S08801

This bill enables public employers in New York to offer temporary retirement incentives for certain public employees who have either reached age 55 with 10 years of service or age 50 with 25 years of service. The bill defines the eligible employees, the open period during which they can retire, and the pension benefit costs that employers must pay. The goal of the bill is to help public employers avoid layoffs during economic difficulties by providing these retirement incentives.