Veterans Buyback Pension Legislation to Be Advanced in State Budget

Scarsdale – New York State Assemblywoman Amy Paulin (D-88) is proud to announce that she, Senator William Larkin (R-39) and Governor Andrew Cuomo have agreed to include a measure expanding eligibility for the military service credit in the 2016 State budget legislation.

Paulin, along with Larkin, worked with Cuomo and his staff to advance legislation that would provide up to three years of additional public pension credit for an expanded pool of eligible state and local employees who served in the military and were honorably discharged. It would also remove restrictions that have prevented women from purchasing pension credit. Currently, only veterans who served during certain specified periods were eligible and as a result, many veterans were excluded.

Cuomo vetoed the bill authored by Paulin and Larkin (A.8174A/S.5937) last month but did so with the understanding that he would negotiate with the sponsors to work the legislation into next year’s budget.

“I am thrilled that after a great deal of work by a great many people, Governor Cuomo has chosen to advance this important measure,” Paulin said. “All veterans who served our country deserve our ultimate respect and thanks. To hold these benefits back from so many veterans was an insult to the sacrifices that all servicemen and women have made.

“Those veterans who were ineligible, particularly women veterans who were disproportionately excluded, will now have greater financial security in their retirement.”

Cuomo felt it was important to reach this agreement in time to help honor those who have served our country.

“Our Veterans exemplify dedication, patriotism, and sacrifice – and we owe them a debt that can never be repaid,” Cuomo said. “As we celebrate Veterans Day, we honor not only the extraordinary sacrifices they’ve made on our behalf, and their service here and abroad, but also the contributions they make to our communities once they return to private life.

“New York is one community and one family. Together we hope and pray for the safe return of our military men and women serving around the world. Above all, we remember those who have paid the ultimate price to protect our freedom and security. To our Veterans and military families, on behalf of all New Yorkers, thank you.”