NY S03867

Allows uniformed persons, uniformed personnel, and security hospital treatment assistants to postpone up to five vacation days per year and receive monetary payment instead upon retirement or separation from service.

Postponed vacation days must be paid at the pay rate applicable on the date of retirement or when the member becomes ineligible to receive benefits.

Monetary payment for deferred vacation days is excluded from final average salary calculations for retirement benefit purposes.

Members must elect annually to postpone vacation days by certifying their intention to their employer's director of personnel in the required manner and form.

Takes effect immediately with no fiscal impact on the New York State and Local Employees' Retirement System since the lump sum payment does not affect benefit calculations.