Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 06, 2022 |
referred to governmental employees |
Assembly Bill A10610
2021-2022 Legislative Session
Sponsored By
ABBATE
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2021-A10610 (ACTIVE) - Details
- Current Committee:
- Assembly Governmental Employees
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Add §381-c, R & SS L
2021-A10610 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10610 I N A S S E M B L Y July 6, 2022 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Abbate) -- read once and referred to the Committee on Governmental Employees AN ACT to amend the retirement and social security law, in relation to enacting the "police and fire employees retention act" THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "police and fire employees retention act". § 2. Legislative findings. Over the past several years, increased workloads on our police and fire employees throughout the state has resulted in a large reduction in personnel resources due to retirement and separation from service. The loss of talented and experienced personnel in these important job titles further results in a structural deficit of experienced trainers for our next generation of dedicated police and fire personnel actively entering their public service lives. This legislation seeks to induce talented and experienced personnel to remain in service to the public while allowing their pension payments to be deferred during a specific period of time while they continue employ- ment. § 3. The retirement and social security law is amended by adding a new section 381-c to read as follows: § 381-C. DEFERRED RETIREMENT OPTION PLAN PAYABLE TO MEMBERS OF OPTIONAL TWENTY-YEAR RETIREMENT PLAN. A PARTICIPATING EMPLOYER WHICH HAS ELECTED OR WHICH ELECTS, PURSUANT TO SECTION THREE HUNDRED EIGHTY-ONE AND ANY SECTIONS UNDER THIS ARTICLE, WHO PARTICIPATES IN A TWENTY-YEAR RETIREMENT PLAN SHALL PROVIDE FOR A DEFERRED RETIREMENT OPTION PLAN. A. DEFERRED RETIREMENT OPTION PLAN, (HEREINAFTER REFERRED TO AS "DROP"), IS A RETIREMENT PLAN UNDER WHICH AN ELIGIBLE MEMBER MAY ELECT TO PARTICIPATE, DEFERRING RECEIPT OF RETIREMENT BENEFITS WHILE CONTINU- ING EMPLOYMENT. FOR THE PURPOSES OF THIS SECTION, AN "ELIGIBLE MEMBER" IS ANY MEMBER OR OFFICER EMPLOYED BY THE STATE, LOCAL, MUNICIPAL, COUN- TY, VILLAGE, AUTHORITY OR DIVISION WITHIN THE STATE. DURING THE PERIOD OF CONTINUED EMPLOYMENT, THE ELIGIBLE MEMBER'S MONTHLY RETIREMENT BENE- FIT SHALL BE DEFERRED AND HELD BY THE RETIREMENT SYSTEM ON BEHALF OF THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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