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NY A05725
Bill
Status
3/23/2023
Primary Sponsor
Josh Jensen
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AI Summary
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Members of the New York State and Local Retirement System (NYSLRS) who were furloughed or dismissed between March 7, 2020 (when Executive Order 202 was issued) and December 31, 2020 are eligible to receive service credit for the period they were furloughed or dismissed.
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Applies to full-time, part-time, and seasonal NYSLRS members who have at least 5 years of credited service (not including the service credit granted under this act).
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Service credit extension is not subject to section 25 of the retirement and social security law, allowing the credit regardless of other legal provisions.
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Estimated past service cost of approximately 21 percent of compensation per year of additional service for the Employees' Retirement System and 25 percent for the Police and Fire Retirement System.
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Takes effect immediately upon enactment.
Legislative Description
Provides for the extension of NYSLRS service credit for any service credit lost due to either furlough or layoff of a member from the period beginning when executive order 202 of 2020 was issued through December 31, 2020.
Last Action
referred to governmental employees
1/3/2024