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NY A06950
Bill
Status
5/9/2023
Primary Sponsor
Carrie Woerner
Click for details
AI Summary
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Allows disabled veterans who are members of New York State public retirement systems to retire at age 55 with 13 years of service credit without pension reduction.
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Defines "disabled veteran" as a veteran certified by the U.S. Veterans' Administration or military department as entitled to disability payments for a service-connected disability rated at 60 percent or more.
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Requires the veteran's disability to exist at the time of retirement and to have been certified prior to the retirement date.
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Mandates that all costs for early retirement under this provision be paid by the State of New York and participating employers in the retirement system.
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Takes effect 120 days after enactment, with estimated costs of 1-2 times annual salary per member depending on retirement system tier.
Legislative Description
Provides that a member of a public retirement system of the state who is a disabled veteran may retire without reduction of their retirement benefit upon their attainment of at least fifty-five years of age and completion of at least thirteen years of credited service in such retirement system.
Last Action
referred to governmental employees
1/3/2024