NY A07821

Allows retirees who retired before May 31, 2016 to apply for a supplemental military retirement allowance based on prior military service that was not creditable at the time of retirement.

Application deadline is December 31, 2024, with no cost to eligible retirees; benefits begin with the first monthly payment issued at least 30 days after application receipt.

Supplemental allowance equals 0.25% per month of qualifying military service (maximum 36 months) multiplied by the retirement allowance, capped at $15,000, resulting in a maximum annual benefit of $1,350.

Surviving spouses of deceased retirees who selected a joint and survivor option receive 50% of the monthly benefit the retiree would have received.

Estimated costs for New York State and Local Retirement Systems total approximately $52.9 million in present value benefits, with New York City systems facing approximately $35.6 million in additional employer contributions in fiscal year 2025.