Provides that an eligible member of the public retirement system may buy service credit for certain military service with two years of credited service.
STATE OF NEW YORK
________________________________________________________________________
3548
2009-2010 Regular Sessions
IN SENATE
March 24, 2009
___________
Introduced by Sens. MAZIARZ, ALESI, BONACIC, FUSCHILLO, GOLDEN, GRIFFO,
LARKIN, LIBOUS, LITTLE, MORAHAN, OPPENHEIMER, RANZENHOFER, SEWARD,
VOLKER -- read twice and ordered printed, and when printed to be
committed to the Committee on Civil Service and Pensions
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:
1 Section 1. Subdivision 3 of section 1000 of the retirement and social
2 security law, as added by chapter 548 of the laws of 2000, is amended to
3 read as follows:
4 3. A member must have at least [five] two years of credited service
5 (not including service granted hereunder) to be eligible to receive
6 credit under this section.
7 § 2. This act shall take effect immediately.
FISCAL NOTE.--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. Previously a member needed
at least five (5) years of credited service to be eligible to purchase
such service credit.
For members that purchase military service credit who ordinarily would
not have attained five years of service credit, the additional military
service credit could provide a vested retirement benefit where a retire-
ment benefit would not have existed.
Insofar as this bill would affect the New York State and Local Employ-
ees' Retirement System and the New York State and Local Police and Fire
Retirement System, there will be a cost for such members. Such cost will
depend on the plan coverage, salary and age of the members who will be
receiving an increased benefit. This cost will be shared by the State of
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01959-02-9
S. 3548 2
New York and all participating employers in the New York State and Local
Employees' Retirement System and the New York State and Local Police and
Fire Retirement System.
This estimate, dated March 16, 2009 and intended for use only during
the 2009 Legislative Session, is Fiscal Note No. 2009-179, prepared by
the Actuary for the New York State and Local Employees' Retirement
System and the New York State and Local Police and Fire Retirement
System.
