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Bill > A05088
NY A05088
NY A05088Establishes a temporary retirement incentive for certain public employees who are above age fifty-five and with twenty-five years of service.
summary
Introduced
02/10/2021
02/10/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Establishes a temporary retirement incentive for certain public employees who are above age fifty-five and with twenty-five years of service.
AI Summary
This bill establishes a temporary retirement incentive for certain public employees who are above age 55 and have 25 years of service. It allows these eligible employees to retire without the usual early retirement reduction if they file their retirement application during a designated open period, which must be at least 30 days but no longer than 90 days, and cannot extend beyond September 11, 2021 for educational employers or December 31, 2021 for state university and community college employers. The pension benefit costs of this incentive will be paid by the participating employers over a period of up to five years starting in the 2023 fiscal year.
Committee Categories
Labor and Employment
Sponsors (24)
Thomas Abinanti (D)*,
Joe Angelino (R),
Harry Bronson (D),
Marianne Buttenschon (D),
Joe DeStefano (R),
Inez Dickens (D),
Michael Durso (R),
Steven Englebright (D),
Harvey Epstein (D),
Patricia Fahy (D),
Jarett Gandolfo (R),
Chantel Jackson (D),
Jonathan Jacobson (D),
Dave McDonough (R),
John Mikulin (R),
Melissa Miller (R),
Angelo Morinello (R),
Amy Paulin (D),
John Salka (R),
Rebecca Seawright (D),
Gina Sillitti (D),
Steve Stern (D),
Chris Tague (R),
Fred Thiele (D),
Last Action
referred to governmental employees (on 01/05/2022)
Official Document
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