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Bill > A05884
NY A05884
NY A05884Enables public employers to offer an age fifty-five with ten years of service or age fifty with twenty-five years of service temporary retirement incentives for certain public employees.
summary
Introduced
03/01/2021
03/01/2021
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
Enables public employers to offer an age fifty-five with ten years of service or age fifty with twenty-five years of service temporary retirement incentives for certain public employees.
AI Summary
This bill enables public employers to offer a temporary retirement incentive to certain public employees. Specifically, the bill allows eligible employees to retire at age 55 with 10 years of service or age 50 with 25 years of service without the early retirement reduction that would normally apply. This incentive is available for a limited 90-day "open period" that must be established by each participating employer. The cost of the retirement incentive is to be paid by the employers over a period of up to 5 years, starting in the 2023 fiscal year.
Committee Categories
Labor and Employment
Sponsors (11)
Marianne Buttenschon (D)*,
Jeffrion Aubry (D),
Joe DeStefano (R),
Michael Durso (R),
Judy Griffin (D),
Chantel Jackson (D),
Donna Lupardo (D),
Dave McDonough (R),
Phil Ramos (D),
Mike Tannousis (R),
Ken Zebrowski (D),
Last Action
referred to governmental employees (on 01/05/2022)
Official Document
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