Bill > S04170

This bill authorizes certain public employers in New York City to offer a temporary retirement incentive program (Part A) and provides an age 55/25 years temporary retirement incentive for certain public employees in New York City (Part B). The retirement incentives are designed to achieve cost-savings for public employers and avoid layoffs of public employees during a time of fiscal need. The bill defines eligible employees, titles, and retirement systems, and outlines the specific requirements and benefits of the two parts of the retirement incentive program. The city of New York must demonstrate cost-savings through eliminating positions or reallocating employees to achieve the intended fiscal benefits of the program.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2021/S4170