Loading chat...
NY A06914
Bill
Status
11/7/2014
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
-
Amends Military Law Section 243-d to provide non-contributory retirement service credit for members of New York City Retirement Systems called to active military duty between September 11, 2001 and January 1, 2006
-
Members who did not receive their full salary from a participating employer during military service become eligible to receive retirement credit without making member contributions
-
Estimated fiscal impact includes $4.725 billion increase in Unfunded Actuarial Accrued Liability and $750.2 million in additional annual employer costs across all five NYC retirement systems
-
Act takes effect immediately and is retroactively deemed effective as of September 11, 2001
Legislative Description
Relates to non-contributory retirement service credit for members of the New York city retirement systems called to military duty on or after September eleventh, two thousand one and prior to January first, two thousand six.
Last Action
signed chap.427
11/7/2014