Bill S168A-2011

Provides that an eligible member of the public retirement system may buy service credit for certain military service with two years of credited service

Provides that an eligible member of the public retirement system may buy service credit for certain military service with two years of credited service.

Details

Actions

  • Jun 21, 2012: COMMITTED TO RULES
  • Mar 14, 2012: AMENDED ON THIRD READING 168A
  • Mar 5, 2012: ADVANCED TO THIRD READING
  • Mar 1, 2012: 2ND REPORT CAL.
  • Feb 29, 2012: 1ST REPORT CAL.254
  • Jan 4, 2012: REFERRED TO CIVIL SERVICE AND PENSIONS
  • Jan 5, 2011: REFERRED TO CIVIL SERVICE AND PENSIONS

Memo

BILL NUMBER:S168A

TITLE OF BILL:

An act to amend the retirement and social security law, in relation to allowing an eligible member of the public retirement system to obtain service credit for certain military service if such person has two years of credited service

PURPOSE:

To provide an eligible member of the retirement system with the opportunity to purchase service credit for certain military service with at least two years of credited service instead of the current five.

SUMMARY OF PROVISIONS:

This bill would act as an amendment to Section 1. Subdivision 3 of section 1000 of the retirement and social security law, as added by chapter 548 of the laws of 2000, to provide those members whom have at least two years of credited service to purchase service credit for military service. By doing so, the additional military service credit could provide a vested retirement benefit where a retirement benefit would previously not have existed. This bill would affect the New York State and Local Employees' Retirement System as well as the New York State and Local Police and Fire Retirement System. The cost attributed to the members will depend upon the coverage plan selected, the salary and the age of the members whom will be receiving an increased benefit. This cost will be shared by both the State of New York and all participating employers in the New York State and Local Employees' Retirement System and the New York and Local Police and Fire Retirement System.

JUSTIFICATION:

The purpose of this bill is to aid those whom have courageously served the United States in the military and provide the opportunity to accredit them service credit only after two years spent working for the Retirement System. By shorting the period of time necessary to purchase the service credit to two years, this bill allows those members whom had not attained a minimum of five years of service to purchase credit earlier.

BILL HISTORY:

S.6812 of 2007/2008; Delivered to Assembly, Referred to Governmental Employees. S.3548/A.7136 of 2009/2010; Referred to Civil Services & Pensions

FISCAL IMPLICATIONS:

See fiscal note.

EFFECTIVE DATE:

This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 168--A Cal. No. 254 2011-2012 Regular Sessions IN SENATE (PREFILED) January 5, 2011 ___________
Introduced by Sens. MAZIARZ, ADDABBO, ALESI, AVELLA, BONACIC, FUSCHILLO, GOLDEN, GRIFFO, LARKIN, LIBOUS, LITTLE, RANZENHOFER, SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions -- recommitted to the Commit- tee on Civil Service and Pensions in accordance with Senate Rule 6, sec. 8 -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the retirement and social security law, in relation to allowing an eligible member of the public retirement system to obtain service credit for certain military service if such person has two years of credited service THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 1000 of the retirement and social security law, as added by chapter 548 of the laws of 2000, is amended to read as follows: 3. A member must have at least [five] TWO years of credited service (not including service granted hereunder) to be eligible to receive credit under this section. S 2. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would amend Chapter 548 of the laws of 2000 to allow members who have at least two (2) years of credited service to purchase service credit for military service. Currently a member needs at least five (5) years of credited service to be eligible to purchase such service cred- it. For members that purchase military service credit who ordinarily would not have attained five years of service credit, the additional military

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