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NY A07632

Bill

Status

Engrossed

6/18/2014

Primary Sponsor

William Magnarelli

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Amends Section 1000 of the Retirement and Social Security Law to add Afghanistan to the list of theaters of operations where military service qualifies for retirement credit, covering hostilities from August 2, 1990 to the end of such hostilities.

  • Members may claim up to three years of military service credit, but must have at least five years of credited service (excluding military service) and apply before retirement.

  • Tier 1-5 members pay 3% of their most recent annual compensation per year of military service credit; Tier 6 members pay 6% of their most recent annual compensation per year.

  • Applies retroactively to December 21, 1998, meaning retired members since that date can purchase military service credit with retroactive payments.

  • Past service costs are shared by New York State and participating employers in the Employees' Retirement System and Police and Fire Retirement System; exempted from Section 25 cost-sharing provisions.

Legislative Description

Provides credit to members of public retirement systems of the state for military service in certain hostilities in Afghanistan.

Last Action

REFERRED TO RULES

6/18/2014

Committee Referrals

Rules6/18/2014
Rules6/16/2014
Ways and Means5/13/2014
Governmental Employees5/29/2013

Full Bill Text

No bill text available