Bill > A07821

This bill amends the Retirement and Social Security Law, the Education Law, and the Administrative Code of the City of New York to provide a supplemental military retirement allowance for members of public retirement systems in New York State who retired prior to May 31, 2016. The supplemental allowance, which is limited to $15,000 and 25% of the member's retirement allowance per month of military service (up to 36 months), is payable for the member's lifetime and, if the member chose an optional form of payment, half of the allowance is payable to the surviving spouse. The bill allows eligible retirees to apply for this supplemental allowance by December 31, 2024, and the benefit would commence with the next retirement allowance payable at least 30 days after the application is received.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2023/A7821