Bill
Bill > S05559
NY S05559
NY S05559Enables 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
03/11/2021
03/11/2021
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 eligible public employees who are members of a retirement system. Specifically, the bill allows public employees who are at least 50 years old with 25 years of service, or at least 55 years old with 10 years of service, to retire during a designated open period without the usual early retirement reduction in their pension benefits. Public employers, including state agencies, the legislature, and local governments, can elect to offer this retirement incentive by passing a resolution or local law. The costs of the pension benefits provided under this incentive will be paid by the participating employers over a period of up to 5 years.
Committee Categories
Labor and Employment
Sponsors (8)
Joe Griffo (R)*,
George Borrello (R),
Patrick Gallivan (R),
Pam Helming (R),
Mario Mattera (R),
Peter Oberacker (R),
Susan Serino (R),
Alexis Weik (R),
Last Action
REFERRED TO CIVIL SERVICE AND PENSIONS (on 01/05/2022)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/S5559 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S05559&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S05559 |
Loading...