NY A07781

Amends Retirement and Social Security Law Section 1000 to change the starting date of eligible Lebanon military service from June 1, 1983 to August 21, 1982 for military service crediting purposes in New York public retirement systems.

Allows members of New York State and Local Employees' Retirement System (ERS), Police and Fire Retirement System (PFRS), Teachers' Retirement System (TRS), and New York City Retirement Systems to purchase up to three years of additional service credit for military service during the revised conflict period (August 21, 1982 to December 1, 1987).

Members must have at least five years of credited service (excluding military service) and make payments of 3% of recent compensation per year of additional service credit for Tiers 1-5, or 6% for Tier 6 members.

Estimated past service costs average 12% (9% for Tier 6) of compensation for ERS members and 17% (14% for Tier 6) for PFRS members per year of additional service purchased.

Takes effect immediately upon enactment and is exempt from Section 25 of the Retirement and Social Security Law.