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Bill > A05552


NY A05552

NY A05552
Establishes a twenty-five year retirement plan for firefighters employed by the division of military and naval affairs.


summary

Introduced
02/14/2025
In Committee
02/14/2025
Crossed Over
Passed
Dead

Introduced Session

2025-2026 General Assembly

Bill Summary

AN ACT to amend the retirement and social security law, in relation to establishing a twenty-five year retirement plan for firefighters employed by the division of military and naval affairs

AI Summary

This bill establishes a twenty-five year retirement plan specifically for firefighters employed by the New York State Division of Military and Naval Affairs. The bill allows members working as airport firefighter apprentices, airport firefighters (levels I-III), or training and safety officers to retire after 25 years of creditable service, regardless of age. Upon retirement, these members will receive a pension equal to one-half of their final average salary. The bill also provides that credit for service can include time worked as a paid firefighter in any organized fire department, and full credit will be given for military service during wartime. Members currently employed in these roles can elect to be subject to this new retirement plan within one year of its effective date by filing an irrevocable written election with the comptroller. The bill will take effect on January 1, 2026, and is estimated to increase annual state contributions by approximately $280,000, with a one-time past service cost of about $2.17 million. The legislation applies to 55 affected members with an annual salary of approximately $5.3 million as of March 31, 2024.

Committee Categories

Labor and Employment

Sponsors (12)

Last Action

referred to governmental employees (on 02/14/2025)

bill text


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