NY S04491

Authorizes Jeffrey Alva Beall, a retired Tier 4 member of the New York State Teachers' Retirement System, to apply for military service credit for his active duty in the United States Army from April 17, 1984 to February 27, 1987

Allows the service credit to be applied retroactively to his 2016 retirement date, despite current law not being in effect at the time of his retirement

Requires Mr. Beall to pay 3% of his compensation earned during his last twelve consecutive months of credited service, multiplied by the number of years of military service (approximately 3 years)

Estimated cost to employers of New York State Teachers' Retirement System members is $73,000, representing the increase in present value of liabilities minus Mr. Beall's required contribution