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NY A09851
Bill
Status
Introduced
4/15/2016
Primary Sponsor
Peter Abbate
Click for details
AI Summary
- Increases the mandatory retirement age for receiving an additional pension from age sixty-two to age sixty-five under the Retirement and Social Security Law
- Applies to members who have completed twenty-five years of service and wish to receive benefits equal to one-half of their final average salary
- Requires members to retire on or before the last day of the calendar month following the month in which they attain age sixty-five to be eligible for the additional pension
- Maintains a grandfathering provision for members who attained age sixty-five on or before July 1, 1966, requiring them to retire by December 31, 1967 to receive additional pension credit
- Amends Section 384 of the Retirement and Social Security Law regarding pension calculations and member retirement provisions
Legislative Description
Relates to mandatory retirement age; increases the age at which a member must retire to receive an additional pension from sixty-two to sixty-five.
Last Action
substituted by s7387
6/15/2016
Committee Referrals
Rules6/14/2016
Ways and Means5/10/2016
Governmental Employees4/15/2016
Full Bill Text
No bill text available