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Assembly Bill A2055

2011-2012 Legislative Session

Provides that an eligible member of the public retirement system may buy service credit for certain military service with two years of credited service

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Archive: Last Bill Status - In Assembly Committee

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2011-A2055 (ACTIVE) - Details

Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd ยง1000, R & SS L
Versions Introduced in Other Legislative Sessions:
2009-2010: A7136
2013-2014: A4936

2011-A2055 (ACTIVE) - Summary

Provides that an eligible member of the public retirement system may buy service credit for certain military service with two years of credited service.

2011-A2055 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2055

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 13, 2011
                               ___________

Introduced  by M. of A. CUSICK, ORTIZ, TOWNS, PHEFFER -- Multi-Sponsored
  by -- M. of A.   COLTON, TITONE --  read  once  and  referred  to  the
  Committee on Governmental Employees

AN  ACT  to amend the retirement and social security law, in relation to
  allowing an eligible member of the public retirement system to  obtain
  service  credit  for  certain  military service if such person has two
  years of credited service

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Subdivision 3 of section 1000 of the retirement and social
security law, as added by chapter 548 of the laws of 2000, is amended to
read as follows:
  3. A member must have at least [five] TWO years  of  credited  service
(not  including  service  granted  hereunder)  to be eligible to receive
credit under this section.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--This bill would amend Chapter 548 of the laws of 2000 to
allow members who have  at  least  (2)  years  of  credited  service  to
purchase  service  credit for military service. Currently a member needs
at least five (5) years of credited service to be eligible  to  purchase
such service credit.
  For members that purchase military service credit who ordinarily would
not  have attained five years of service credit, the additional military
service credit could provide a vested retirement benefit where a retire-
ment benefit would not have existed.
  Insofar as this bill would affect the New York State and Local Employ-
ees' Retirement System and the New York State and Local Police and  Fire
Retirement System, there will be a cost for such members. Such cost will
depend  on  the plan coverage, salary and age of the members who will be
receiving an increased benefit. This cost will be shared by the State of
New York and all participating employers in the New York State and Local

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00545-02-1

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