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NY A07632
Bill
Status
6/18/2014
Primary Sponsor
William Magnarelli
Click for details
AI Summary
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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.
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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.
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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.
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Applies retroactively to December 21, 1998, meaning retired members since that date can purchase military service credit with retroactive payments.
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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