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Bill > A05213
NY A05213
NY A05213Enables 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
03/06/2023
03/06/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT in relation to enabling public employers to offer certain temporary retirement incentives for certain public employees
AI Summary
This bill enables public employers to offer certain temporary retirement incentives for certain public employees. Specifically, it allows eligible employees (those 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 90-day "open period" without the typical early retirement reductions. The bill defines the various terms, such as "retirement system," "state employer," and "eligible employee," and outlines the process for employers to elect to offer the incentive. It also specifies that the pension benefit costs will be paid by the employers over a 5-year period.
Committee Categories
Labor and Employment
Sponsors (18)
Marianne Buttenschon (D)*,
Jeffrion Aubry (D),
Karl Brabenec (R),
William Colton (D),
Joe DeStefano (R),
Michael Durso (R),
Charles Fall (D),
Andrew Hevesi (D),
Chantel Jackson (D),
Donna Lupardo (D),
Dave McDonough (R),
Mike Norris (R),
Phil Ramos (D),
Mike Reilly (R),
Gina Sillitti (D),
Mike Tannousis (R),
David Weprin (D),
Ken Zebrowski (D),
Last Action
print number 5213a (on 04/12/2024)
Official Document
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