Bill > S09068

This bill establishes an optional twenty-five-year retirement plan for certain employees of the New York Power Authority, specifically those with job titles such as mechanic, technician, electrician, equipment operator, power plant operator, utility security officer, or lineperson, who are members of the recognized labor organization representing these employees. This new plan allows eligible employees to retire after completing twenty-five years of creditable service, with their retirement allowance calculated as fifty percent of their final average salary, which is their average salary over a specific period before retirement. The bill also clarifies that service in time of war after World War I will be fully credited for these employees, and it amends existing retirement laws to include these New York Power Authority employees in provisions that allow for retirement without regard to age after a specified period of service, with the costs associated with past service being borne by the New York Power Authority.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S9068