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NY S07387
Bill
Status
11/28/2016
Primary Sponsor
Kemp Hannon
Click for details
AI Summary
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Increases mandatory retirement age from 62 to 65 for members of the New York State and Local Police and Fire Retirement System (PFRS) covered under Section 384 of the Retirement and Social Security Law
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Applies to officers and members of organized fire departments and police forces who elect to receive additional benefits under the law's pension provisions
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Changes retirement eligibility requirements so members must retire on or before the last day of the calendar month following attainment of age 65 (rather than 62) to receive additional pension benefits
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Provides that members with chief or commanding officer status in police departments must retire on the first day of the calendar month following attainment of age 65
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Takes effect immediately upon enactment with no anticipated increase in annual employer contributions to the PFRS
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
VETOED MEMO.289
11/28/2016