Repeals provisions requiring members of public retirement systems, who are veterans and who join such systems on or after April 1, 2012 (Tier 6), to pay at a rate of 6% of salary to purchase military credit in their retirement system, rather than their rate of 3% which applies to all other Tiers of the retirement systems.
STATE OF NEW YORK
________________________________________________________________________
7118
IN SENATE
April 30, 2012
___________
Introduced by Sen. BALL -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
AN ACT to repeal subdivision 10 of section 1000 of the retirement and
social security law relating to requiring members of public retirement
systems to pay a rate of six percent of annual compensation for mili-
tary service credit
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 10 of section 1000 of the retirement and social
2 security law is REPEALED.
3 § 2. This act shall take effect immediately and shall be deemed to
4 have been in full force and effect on and after April 1, 2012.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD15398-01-2
