Assembly Bill A7075

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 7075--A

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             March 19, 2009
                               ___________

Introduced  by  M.  of  A. McENENY, CANESTRARI, CAHILL, BRADLEY, WRIGHT,
  SCHROEDER, GUNTHER, FIELDS, JAFFEE, RAMOS, HYER-SPENCER -- Multi-Spon-
  sored by -- M.  of A. BOYLAND, BRODSKY, BROOK-KRASNY, COLTON,  CUSICK,
  DINOWITZ,  HEASTIE,  HOOPER,  LATIMER, LIFTON, MILLER, PERALTA, PERRY,
  PHEFFER, SPANO,  SWEENEY,  WEINSTEIN,  WEISENBERG  --  read  once  and
  referred  to  the  Committee  on  Governmental  Employees -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN ACT to amend the retirement and social security law, in  relation  to
  benefits  of  members  subject to article 11 and article 15 who retire
  prior to the normal retirement age with twenty-five years of service

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Paragraph 1 of subdivision b of section 442 of the retire-
ment and social security law, as amended by chapter 306 of the  laws  of
1996, is amended to read as follows:
  1.  A  member  who  is  a  peace officer employed by the unified court
system or a member of a teacher's retirement system or a member  of  the
New York state and local employees' retirement system OR A MEMBER OF THE
NEW  YORK  CITY EMPLOYEES' RETIREMENT SYSTEM OR A MEMBER OF THE NEW YORK
CITY BOARD OF EDUCATION RETIREMENT SYSTEM may retire  without  reduction
of  his OR HER retirement benefit upon his OR HER attainment of at least
fifty-five years of age and completion of [thirty] TWENTY-FIVE  or  more
years of service; and
  S  2.  Paragraph 1 of subdivision d of section 445-d of the retirement
and social security law, as amended by chapter 509 of the laws of  2001,
is amended to read as follows:
  1.  In addition to the member contributions required by section 13-125
or 13-162 of the administrative code or section eight or thirty  of  the
BERS  rules  and  regulations,  each  participant  in the age fifty-five
improved benefit retirement program shall  contribute,  subject  to  the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00702-04-9
              

A. 7075--A                          2

applicable  provisions of section 13-125.2 of the administrative code or
subdivision nineteen of section twenty-five hundred seventy-five of  the
education law, an additional percentage or additional percentages of his
or  her  compensation  to  the retirement system of which he or she is a
member in accordance with the following schedule:
  (i) (A) each such participant shall contribute an additional four  and
thirty-five  one-hundredths  percent  of  his or her compensation earned
from all credited CPP qualifying service (whether or not in a physically
taxing position) rendered on and after the  starting  date  of  the  age
fifty-five   improved  benefit  retirement  program  and  prior  to  the
commencement date of the first payroll period which begins after January
first, nineteen hundred ninety-eight (1) while such person is a  partic-
ipant in such program; and (2) before such person becomes such a partic-
ipant  pursuant to paragraph one or two of subdivision b of this section
(whether or not rendered in a New York city eligible position); and  (3)
after such person ceases to be a participant, but before he or she again
becomes  such  a participant pursuant to paragraph five of such subdivi-
sion b (whether or not rendered in a New York city  eligible  position);
and
  (B)  each  such  participant  shall  contribute  an additional two and
eighty-five one-hundredths percent of his  or  her  compensation  earned
from all credited CPP qualifying service (whether or not in a physically
taxing  position)  rendered  on  and  after the commencement date of the
first payroll period which begins after January first, nineteen  hundred
ninety-eight  and  prior  to  the commencement date of the first payroll
period which begins subsequent to the effective date  of  [the]  chapter
FIVE  HUNDRED  NINE  of  the laws of two thousand one which amended this
item AND PRIOR TO THE COMMENCEMENT DATE  OF  THE  FIRST  PAYROLL  PERIOD
WHICH  BEGINS  AFTER JULY FIRST, TWO THOUSAND NINE (1) while such person
is a participant in such program; and (2)  before  such  person  becomes
such  a participant pursuant to paragraph one or two of subdivision b of
this section (whether or not rendered in a New York city eligible  posi-
tion);  and (3) after such person ceases to be a participant, but before
he or she again becomes such a participant pursuant to paragraph five of
such subdivision b (whether or not rendered in a New York city  eligible
position); and
  (C)  each  such  participant  shall  contribute  an additional one and
eighty-five one-hundredths percent of his  or  her  compensation  earned
from all credited CPP qualifying service (whether or not in a physically
taxing  position)  rendered  on  and  after the commencement date of the
first payroll period which begins subsequent to the  effective  date  of
[the]  chapter  FIVE  HUNDRED NINE of the laws of two thousand one which
added this item (1) while such person is a participant in such  program;
and  (2) before such person becomes such a participant pursuant to para-
graph one or two of subdivision  b  of  this  section  (whether  or  not
rendered  in  a  New  York  city  eligible position); and (3) after such
person ceases to be a participant, but before he or  she  again  becomes
such  a  participant  pursuant  to  paragraph five of such subdivision b
(whether or not rendered in a New York city eligible position); and
  (ii) each such participant who is  employed  in  a  physically  taxing
position  (as  defined  in  paragraph  eleven  of  subdivision a of this
section) shall contribute, in addition to the additional member contrib-
utions required to be made at the percentage of  compensation  specified
in  subparagraph  (i)  of this paragraph for the credited CPP qualifying
service specified in such subparagraph (i), an additional one and  nine-
ty-eight  one-hundredths  percent of his or her compensation earned from

A. 7075--A                          3

that portion of such credited CPP qualifying service which  is  rendered
in  a  physically  taxing position on and after the starting date of the
age fifty-five improved benefit retirement program (A) while such person
is  a  participant  in  such program; and (B) before such person becomes
such a participant pursuant to paragraph one or two of subdivision b  of
this  section; and (C) after such person ceases to be a participant, but
before he or she again becomes such a participant pursuant to  paragraph
five of such subdivision b.
  S 3. Subdivision a of section 603 of the retirement and social securi-
ty  law,  as  amended by section 3 of chapter 19 of the laws of 2008, is
amended to read as follows:
  a. The service retirement benefit specified  in  section  six  hundred
four  of this article shall be payable to members who have met the mini-
mum service requirements upon retirement and attainment  of  age  sixty-
two,  other  than  members who are eligible for early service retirement
pursuant to subdivision c of section six hundred four-b of this article,
subdivision c of section  six  hundred  four-c  of  this  article,  SUCH
SECTION  AS  ADDED  BY  CHAPTER  FOUR HUNDRED SEVENTY-TWO OF THE LAWS OF
NINETEEN HUNDRED NINETY-FIVE,  subdivision  d  of  section  six  hundred
four-d  of  this article, subdivision c of section six hundred four-e of
this article, subdivision c of section six hundred four-f of this  arti-
cle, subdivision c of section six hundred four-g of this article, subdi-
vision  c of section six hundred four-h of this article or subdivision c
of section six hundred four-i of  this  article,  provided,  however,  a
member  who is a peace officer employed by the unified court system or a
member of a teachers' retirement system or the New York state and  local
employees'  retirement system OR THE NEW YORK CITY EMPLOYEES' RETIREMENT
SYSTEM OR THE NEW YORK CITY BOARD OF  EDUCATION  RETIREMENT  SYSTEM  may
retire  without  reduction of his or her retirement benefit upon attain-
ment of at least fifty-five years of  age  and  completion  of  [thirty]
TWENTY-FIVE or more years of service.
  S 3-a. Subdivision a of section 603 of the retirement and social secu-
rity  law,  as amended by section 3-a of chapter 19 of the laws of 2008,
is amended to read as follows:
  a. The service retirement benefit specified  in  section  six  hundred
four  of this article shall be payable to members who have met the mini-
mum service requirements upon retirement and attainment  of  age  sixty-
two,  other  than  members who are eligible for early service retirement
pursuant to subdivision c of section six hundred four-b of this article,
subdivision c of section  six  hundred  four-c  of  this  article,  SUCH
SECTION  AS  ADDED  BY  CHAPTER  FOUR HUNDRED SEVENTY-TWO OF THE LAWS OF
NINETEEN HUNDRED NINETY-FIVE,  subdivision  d  of  section  six  hundred
four-d  of  this article, subdivision c of section six hundred four-e of
this article, subdivision c of section six hundred four-f of this  arti-
cle, subdivision c of section six hundred four-g of this article, subdi-
vision  c of section six hundred four-h of this article or subdivision c
of section six hundred four-i  of  this  article  provided,  however,  a
member  who is a peace officer employed by the unified court system or a
member of a teachers' retirement system or the New York state and  local
employees'  retirement system OR THE NEW YORK CITY EMPLOYEES' RETIREMENT
SYSTEM OR THE NEW YORK CITY BOARD OF  EDUCATION  RETIREMENT  SYSTEM  may
retire  without  reduction of his or her retirement benefit upon attain-
ment of at least fifty-five years of  age  and  completion  of  [thirty]
TWENTY-FIVE or more years of service.

A. 7075--A                          4

  S 4. Paragraph 1 of subdivision i of section 603 of the retirement and
social  security  law,  as amended by chapter 19 of the laws of 2008, is
amended to read as follows:
  1. A member of a teachers' retirement system or the New York state and
local  employees'  retirement  system  who  has  met the minimum service
requirements but who has less than [thirty] TWENTY-FIVE years of credit-
ed service may retire prior to normal retirement  age,  but  no  earlier
than attainment of age fifty-five, in which event, unless such person is
a  member of the New York city teachers' retirement system who is other-
wise eligible for early service retirement pursuant to subdivision c  of
section  six  hundred  four-i  of this article, the amount of his or her
retirement benefit  otherwise  computed  without  optional  modification
shall be reduced in accordance with the following schedule:
  (i)  for  each  of  the  first twenty-four full months that retirement
predates age sixty-two, one-half of one per centum per month; and
  (ii) for each full month that retirement predates age sixty, one-quar-
ter of one per centum per month, but in no  event  shall  retirement  be
permitted prior to attainment of age fifty-five.
  S  5.  Paragraph 1 of subdivision d of section 604-c of the retirement
and social security law, as amended by chapter 509 of the laws of  2001,
is amended to read as follows:
  1.  In  addition  to  the member contributions required by section six
hundred thirteen of this article, each participant in  the  twenty-five-
year  early retirement program shall contribute (subject to the applica-
ble provisions of subdivision d of section six hundred thirteen of  this
article)  an  additional  percentage or additional percentages of his or
her compensation to the retirement system of which he or she is a member
in accordance with the following schedule:
  (i) (A) each such participant shall contribute an additional four  and
thirty-five  one-hundredths  percent  of  his or her compensation earned
from all credited service (whether or not in a physically  taxing  posi-
tion)  rendered  on  and after the starting date of the twenty-five-year
early retirement program and prior to the commencement date of the first
payroll period which begins after January first, nineteen hundred  nine-
ty-eight (1) while such person is a participant in such program; and (2)
before  such person becomes such a participant pursuant to paragraph one
or two of subdivision b of this section (whether or not  rendered  in  a
New York city eligible position); and (3) after such person ceases to be
a  participant,  but  before  he or she again becomes such a participant
pursuant to paragraph  five  of  such  subdivision  b  (whether  or  not
rendered in a New York city eligible position); and
  (B)  each  such  participant  shall  contribute  an additional two and
eighty-five one-hundredths percent of his  or  her  compensation  earned
from  all  credited service (whether or not in a physically taxing posi-
tion) rendered on and after the commencement date of the  first  payroll
period  which  begins after January first, nineteen hundred ninety-eight
and prior to the commencement date of the  first  payroll  period  which
begins  subsequent  to  the effective date of [the] chapter FIVE HUNDRED
NINE of the laws of two thousand one which amended this item  AND  PRIOR
TO  THE COMMENCEMENT DATE OF THE FIRST PAYROLL PERIOD WHICH BEGINS AFTER
JULY FIRST, TWO THOUSAND NINE (1) while such person is a participant  in
such  program;  and  (2)  before  such person becomes such a participant
pursuant to paragraph one or  two  of  subdivision  b  of  this  section
(whether  or not rendered in a New York city eligible position); and (3)
after such person ceases to be a participant, but before he or she again
becomes such a participant pursuant to paragraph five of  such  subdivi-

A. 7075--A                          5

sion  b  (whether or not rendered in a New York city eligible position);
and
  (C)  each  such  participant  shall  contribute  an additional one and
eighty-five one-hundredths percent of his  or  her  compensation  earned
from  all  credited service (whether or not in a physically taxing posi-
tion) rendered on and after the commencement date of the  first  payroll
period  which  begins  subsequent to the effective date of [the] chapter
FIVE HUNDRED NINE of the laws of two thousand one which added this  item
(1)  while  such person is a participant in such program; and (2) before
such person becomes such a participant pursuant to paragraph one or  two
of  subdivision b of this section (whether or not rendered in a New York
city eligible position); and (3)  after  such  person  ceases  to  be  a
participant,  but  before  he  or  she  again becomes such a participant
pursuant to paragraph  five  of  such  subdivision  b  (whether  or  not
rendered in a New York city eligible position); and
  (ii)  each  such  participant  who  is employed in a physically taxing
position (as defined in  paragraph  eleven  of  subdivision  a  of  this
section) shall contribute, in addition to the additional member contrib-
utions  required  to be made at the percentage of compensation specified
in subparagraph (i) of this paragraph for the credited service specified
in such subparagraph (i), an additional one  and  ninety-eight  one-hun-
dredths  percent  of his or her compensation earned from that portion of
such credited service which is rendered in a physically taxing  position
on  and after the starting date of the twenty-five-year early retirement
program (A) while such person is a participant in such program; and  (B)
before  such person becomes such a participant pursuant to paragraph one
or two of subdivision b of this section; and (C) after such person ceas-
es to be a participant, but before  he  or  she  again  becomes  such  a
participant pursuant to paragraph five of such subdivision b.
  (iii)  notwithstanding the provisions of subparagraphs (i) and (ii) of
this paragraph, a person who becomes a participant in  the  twenty-five-
year  early  retirement  program  provided by this section, who prior to
such membership was subject to the provisions  of  section  six  hundred
four-b  of  this  article,  shall  not be required to pay the additional
member contributions required by subparagraphs  (i)  and  (ii)  of  this
paragraph  for  any  period of credited service before which such person
became a participant pursuant to paragraph one or two of  subdivision  b
of  this  section  and  during which such participant was subject to the
provisions of such section six hundred four-b and no additional employee
contributions were required of such member.
  S 6. Paragraph 1 of subdivision f of section 604-d of  the  retirement
and  social security law, as amended by chapter 509 of the laws of 2001,
is amended to read as follows:
  1. In addition to the member contributions  required  by  section  six
hundred thirteen of this article, each participant in the age fifty-sev-
en  retirement  program  shall  contribute  (subject  to  the applicable
provisions of subdivision d of section  six  hundred  thirteen  of  this
article)  an  additional  percentage or additional percentages of his or
her compensation to the retirement system of which he or she is a member
in accordance with the following schedule:
  (i) (A) each such participant shall contribute an additional four  and
thirty-five  one-hundredths  percent  of  his or her compensation earned
from all credited service (whether or not in a physically  taxing  posi-
tion) rendered prior to the commencement date of the first payroll peri-
od  which  begins after January first, nineteen hundred ninety-eight (1)
while such person is a participant in such program; and (2) before  such

A. 7075--A                          6

person  becomes such a participant pursuant to paragraph one or three of
subdivision c of this section (whether or not rendered  in  a  New  York
city  eligible position, and whether rendered before or after the enact-
ment date of the age fifty-seven retirement program); and (3) after such
person  ceases  to  be a participant, but before he or she again becomes
such a participant pursuant to paragraph  five  of  such  subdivision  c
(whether or not rendered in a New York city eligible position); and
  (B)  each  such  participant  shall  contribute  an additional two and
eighty-five one-hundredths percent of his  or  her  compensation  earned
from  all  credited service (whether or not in a physically taxing posi-
tion) rendered on and after the commencement date of the  first  payroll
period  which  begins after January first, nineteen hundred ninety-eight
and prior to the commencement date of the  first  payroll  period  which
begins  subsequent  to  the effective date of [the] chapter FIVE HUNDRED
NINE of the laws of two thousand one which amended this item  AND  PRIOR
TO  THE COMMENCEMENT DATE OF THE FIRST PAYROLL PERIOD WHICH BEGINS AFTER
JULY FIRST, TWO THOUSAND NINE (1) while such person is a participant  in
such  program;  and  (2)  before  such person becomes such a participant
pursuant to paragraph one or three of  subdivision  c  of  this  section
(whether  or not rendered in a New York city eligible position); and (3)
after such person ceases to be a participant, but before he or she again
becomes such a participant pursuant to paragraph five of  such  subdivi-
sion  c  (whether or not rendered in a New York city eligible position);
and
  (C) each such participant  shall  contribute  an  additional  one  and
eighty-five  one-hundredths  percent  of  his or her compensation earned
from all credited service (whether or not in a physically  taxing  posi-
tion)  rendered  on and after the commencement date of the first payroll
period which begins subsequent to the effective date  of  [the]  chapter
FIVE  HUNDRED NINE of the laws of two thousand one which added this item
(1) while such person is a participant in such program; and  (2)  before
such  person  becomes  such  a  participant pursuant to paragraph one or
three of subdivision c of this section (whether or not rendered in a New
York city eligible position); and (3) after such person ceases to  be  a
participant,  but  before  he  or  she  again becomes such a participant
pursuant to paragraph  five  of  such  subdivision  c  (whether  or  not
rendered in A New York city eligible position); and
  (ii)  each  such  participant  who  is employed in a physically taxing
position (as defined in paragraph eleven of subdivision a of section six
hundred four-c of this article) shall contribute,  in  addition  to  the
additional member contributions required to be made at the percentage of
compensation  specified  in  subparagraph  (i) of this paragraph for the
credited service specified in such subparagraph (i), an  additional  one
and  ninety-eight  one-hundredths  percent  of  his  or her compensation
earned from that portion of such credited service which is rendered in a
physically taxing position (A) while such person  is  a  participant  in
such  program;  and  (B)  before  such person becomes such a participant
pursuant to paragraph one or three of  subdivision  c  of  this  section
(whether  rendered  before or after the enactment date of the age fifty-
seven retirement program); and (C) after such  person  ceases  to  be  a
participant,  but  before  he  or  she  again becomes such a participant
pursuant to paragraph five of such subdivision c.
  (iii) notwithstanding the provisions of subparagraphs (i) and (ii)  of
this paragraph, a person who becomes a participant in the age fifty-sev-
en  early retirement program provided by this section, who prior to such
membership was subject to the provisions of section six  hundred  four-b

A. 7075--A                          7

of  this  article,  shall  not  be required to pay the additional member
contributions required by subparagraphs (i) and (ii) of  this  paragraph
for  any  period  of  credited service before which such person became a
participant  pursuant to paragraph one or three of subdivision c of this
section and during which such participant was subject to the  provisions
of  such  section six hundred four-b and no additional employee contrib-
utions were required of such member.
  S 7. This act shall take effect immediately and  shall  be  deemed  to
have been in full force and effect on and after June 30, 2009; provided,
however,  that  the  amendments  to subdivisions a and i of section 603,
paragraph 1 of subdivision d of section 604-c and paragraph 1 of  subdi-
vision f of section 604-d of the retirement and social security law made
by  sections  three,  three-a,  four, five and six of this act shall not
affect the expiration of and shall expire on the same date as article 15
of such law, pursuant to section 615 of the retirement and social  secu-
rity law; and provided, further, that the amendments to subdivision a of
section  603  of  the retirement and social security law made by section
three of this act shall be subject to the expiration  and  reversion  of
such  subdivision  pursuant  to section 13 of chapter 682 of the laws of
2003, as amended, when upon such date the provisions of section  three-a
of this act shall take effect.
  FISCAL NOTE.--Pursuant to: Legislative Legislative Law, Section 50:
  This  bill  would  allow Tier 2, 3 and 4 members of the New York State
and Local Employees' Retirement System and certain other public  retire-
ment systems to retire without a benefit reduction due to, early retire-
ment upon the attainment of age fifty-five (55) and the completion of at
least twenty-five (25) years of service. It would also amend the employ-
ee  contribution  payment  schedule  for certain members of the New York
City Employees' Retirement System who are covered under the Optional Age
Fifty-Five Improved Retirement  Benefit  Program.  This  bill  would  be
deemed to be in effect on June 30, 2009.
  Insofar as this bill would affect the New York State and Local Employ-
ees' Retirement System, if it is enacted, we anticipate that there would
be  estimated  additional  annual  contributions  of  approximately  $67
million to the State of New York and $95 million  to  the  participating
employers in the New York State and Local Employees' Retirement System.
  This estimate, dated December 1, 2008 and intended for use only during
the  2009  Legislative  Session, is Fiscal Note No. 2009-19, prepared by
the Actuary for the New  York  State  and  Local  Employees'  Retirement
System.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill would permit members of the New York State Teachers' Retire-
ment  System  who joined after June 30, 1973 to retire without reduction
in retirement benefit upon attainment of at least age 55 with  25  years
of  service  credit. Currently 30 years of service credit and attainment
of at least age 55 are required in order  to  retire  without  an  early
retirement  reduction.  Retirement without reduction is always permitted
upon attainment of age 62 with 5 years of service credit.
  The annual cost to the employers of members  of  the  New  York  State
Teachers'  Retirement  System for this benefit is estimated to be $200.0
million or 1.36% of payroll if this bill is enacted.
  The source of this estimate is Fiscal Note 2009-68 dated May 22,  2009
prepared  by  the  Actuary  of  the  New York State Teachers' Retirement
System and is intended for use only during the 2009 Legislative Session.

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 7075--B

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             March 19, 2009
                               ___________

Introduced  by  M. of A. McENENY, CANESTRARI, CAHILL, WRIGHT, SCHROEDER,
  GUNTHER, FIELDS, JAFFEE, RAMOS, HYER-SPENCER -- Multi-Sponsored by  --
  M.  of  A.   BOYLAND, BRODSKY, BROOK-KRASNY, COLTON, CUSICK, DINOWITZ,
  HEASTIE, HOOPER, LATIMER, LIFTON, J. MILLER, PERALTA, PERRY,  PHEFFER,
  SPANO, SWEENEY, WEINSTEIN, WEISENBERG -- read once and referred to the
  Committee  on  Governmental  Employees  --  committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee  --  recommitted  to  the  Committee  on Governmental Employees in
  accordance with Assembly Rule 3, sec. 2 -- committee discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the retirement and social security law, in  relation  to
  benefits  of  members  subject to article 11 and article 15 who retire
  prior to the normal retirement age with twenty-five years of service

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Paragraph 1 of subdivision b of section 442 of the retire-
ment and social security law, as amended by chapter 306 of the  laws  of
1996, is amended to read as follows:
  1.  A  member  who  is  a  peace officer employed by the unified court
system or a member of a teacher's retirement system or a member  of  the
New York state and local employees' retirement system OR A MEMBER OF THE
NEW  YORK  CITY EMPLOYEES' RETIREMENT SYSTEM OR A MEMBER OF THE NEW YORK
CITY BOARD OF EDUCATION RETIREMENT SYSTEM may retire  without  reduction
of  his OR HER retirement benefit upon his OR HER attainment of at least
fifty-five years of age and completion of [thirty] TWENTY-FIVE  or  more
years of service; and
  S  2.  Paragraph 1 of subdivision d of section 445-d of the retirement
and social security law, as amended by chapter 509 of the laws of  2001,
is amended to read as follows:
  1.  In addition to the member contributions required by section 13-125
or 13-162 of the administrative code or section eight or thirty  of  the
BERS  rules  and  regulations,  each  participant  in the age fifty-five
improved benefit retirement program shall  contribute,  subject  to  the

              

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00702-05-0

A. 7075--B                          2

applicable  provisions of section 13-125.2 of the administrative code or
subdivision nineteen of section twenty-five hundred seventy-five of  the
education law, an additional percentage or additional percentages of his
or  her  compensation  to  the retirement system of which he or she is a
member in accordance with the following schedule:
  (i) (A) each such participant shall contribute an additional four  and
thirty-five  one-hundredths  percent  of  his or her compensation earned
from all credited CPP qualifying service (whether or not in a physically
taxing position) rendered on and after the  starting  date  of  the  age
fifty-five   improved  benefit  retirement  program  and  prior  to  the
commencement date of the first payroll period which begins after January
first, nineteen hundred ninety-eight (1) while such person is a  partic-
ipant in such program; and (2) before such person becomes such a partic-
ipant  pursuant to paragraph one or two of subdivision b of this section
(whether or not rendered in a New York city eligible position); and  (3)
after such person ceases to be a participant, but before he or she again
becomes  such  a participant pursuant to paragraph five of such subdivi-
sion b (whether or not rendered in a New York city  eligible  position);
and
  (B)  each  such  participant  shall  contribute  an additional two and
eighty-five one-hundredths percent of his  or  her  compensation  earned
from all credited CPP qualifying service (whether or not in a physically
taxing  position)  rendered  on  and  after the commencement date of the
first payroll period which begins after January first, nineteen  hundred
ninety-eight  and  prior  to  the commencement date of the first payroll
period which begins subsequent to the effective date  of  [the]  chapter
FIVE  HUNDRED  NINE  of  the laws of two thousand one which amended this
item AND PRIOR TO THE COMMENCEMENT DATE  OF  THE  FIRST  PAYROLL  PERIOD
WHICH BEGINS AFTER JULY FIRST, TWO THOUSAND TEN (1) while such person is
a participant in such program; and (2) before such person becomes such a
participant  pursuant  to  paragraph one or two of subdivision b of this
section (whether or not rendered in a New York city eligible  position);
and  (3)  after such person ceases to be a participant, but before he or
she again becomes such a participant pursuant to paragraph five of  such
subdivision b (whether or not rendered in a New York city eligible posi-
tion); and
  (C)  each  such  participant  shall  contribute  an additional one and
eighty-five one-hundredths percent of his  or  her  compensation  earned
from all credited CPP qualifying service (whether or not in a physically
taxing  position)  rendered  on  and  after the commencement date of the
first payroll period which begins subsequent to the  effective  date  of
[the]  chapter  FIVE  HUNDRED NINE of the laws of two thousand one which
added this item (1) while such person is a participant in such  program;
and  (2) before such person becomes such a participant pursuant to para-
graph one or two of subdivision  b  of  this  section  (whether  or  not
rendered  in  a  New  York  city  eligible position); and (3) after such
person ceases to be a participant, but before he or  she  again  becomes
such  a  participant  pursuant  to  paragraph five of such subdivision b
(whether or not rendered in a New York city eligible position); and
  (ii) each such participant who is  employed  in  a  physically  taxing
position  (as  defined  in  paragraph  eleven  of  subdivision a of this
section) shall contribute, in addition to the additional member contrib-
utions required to be made at the percentage of  compensation  specified
in  subparagraph  (i)  of this paragraph for the credited CPP qualifying
service specified in such subparagraph (i), an additional one and  nine-
ty-eight  one-hundredths  percent of his or her compensation earned from

A. 7075--B                          3

that portion of such credited CPP qualifying service which  is  rendered
in  a  physically  taxing position on and after the starting date of the
age fifty-five improved benefit retirement program (A) while such person
is  a  participant  in  such program; and (B) before such person becomes
such a participant pursuant to paragraph one or two of subdivision b  of
this  section; and (C) after such person ceases to be a participant, but
before he or she again becomes such a participant pursuant to  paragraph
five of such subdivision b.
  S 3. Subdivision a of section 603 of the retirement and social securi-
ty  law, as amended by section 7 of part B of chapter 504 of the laws of
2009, is amended to read as follows:
  a. The service retirement benefit specified  in  section  six  hundred
four  of this article shall be payable to members who have met the mini-
mum service requirements upon retirement and attainment  of  age  sixty-
two,  other  than  members who are eligible for early service retirement
pursuant to subdivision c of section six hundred four-b of this article,
subdivision c of section  six  hundred  four-c  of  this  article,  SUCH
SECTION  AS  ADDED  BY  CHAPTER  FOUR HUNDRED SEVENTY-TWO OF THE LAWS OF
NINETEEN HUNDRED NINETY-FIVE,  subdivision  d  of  section  six  hundred
four-d  of  this article, subdivision c of section six hundred four-e of
this article, subdivision c of section six hundred four-f of this  arti-
cle, subdivision c of section six hundred four-g of this article, subdi-
vision  c of section six hundred four-h of this article or subdivision c
of section six hundred four-i of  this  article,  provided,  however,  a
member  of a teachers' retirement system or the New York state and local
employees' retirement system who first joins such system before  January
first,  two thousand ten or a member who is a uniformed court officer or
peace officer employed by the unified court system OR THE NEW YORK  CITY
EMPLOYEES'  RETIREMENT  SYSTEM  OR  THE NEW YORK CITY BOARD OF EDUCATION
RETIREMENT SYSTEM may retire without reduction of his or her  retirement
benefit  upon  attainment  of  at  least  fifty-five  years  of  age and
completion of [thirty] TWENTY-FIVE or more years of  service,  provided,
however, that a uniformed court officer or peace officer employed by the
unified  court  system  who first becomes a member of the New York state
and local employees' retirement system on or after  January  first,  two
thousand  ten  and  retires  without  reduction of his or her retirement
benefit upon  attainment  of  at  least  fifty-five  years  of  age  and
completion  of [thirty] TWENTY-FIVE or more years of service pursuant to
this section shall be required to make the member contributions required
by subdivision f of section six hundred thirteen of this article for all
years of credited and creditable service.
  S 3-a. Subdivision a of section 603 of the retirement and social secu-
rity law, as amended by section 3-a of chapter 19 of the laws  of  2008,
is amended to read as follows:
  a.  The  service  retirement  benefit specified in section six hundred
four of this article shall be payable to members who have met the  mini-
mum  service  requirements  upon retirement and attainment of age sixty-
two, other than members who are eligible for  early  service  retirement
pursuant to subdivision c of section six hundred four-b of this article,
subdivision  c  of  section  six  hundred  four-c  of this article, SUCH
SECTION AS ADDED BY CHAPTER FOUR HUNDRED  SEVENTY-TWO  OF  THE  LAWS  OF
NINETEEN  HUNDRED  NINETY-FIVE,  subdivision  d  of  section six hundred
four-d of this article, subdivision c of section six hundred  four-e  of
this  article, subdivision c of section six hundred four-f of this arti-
cle, subdivision c of section six hundred four-g of this article, subdi-
vision c of section six hundred four-h of this article or subdivision  c

A. 7075--B                          4

of  section  six  hundred  four-i  of  this article provided, however, a
member who is a peace officer employed by the unified court system or  a
member  of a teachers' retirement system or the New York state and local
employees'  retirement system OR THE NEW YORK CITY EMPLOYEES' RETIREMENT
SYSTEM OR THE NEW YORK CITY BOARD OF  EDUCATION  RETIREMENT  SYSTEM  may
retire  without  reduction of his or her retirement benefit upon attain-
ment of at least fifty-five years of  age  and  completion  of  [thirty]
TWENTY-FIVE or more years of service.
  S 4. Paragraph 1 of subdivision i of section 603 of the retirement and
social security law, as amended by section 8 of part B of chapter 504 of
the laws of 2009, is amended to read as follows:
  1. A member of a teachers' retirement system or the New York state and
local  employees'  retirement  system  who  has  met the minimum service
requirements but who has less than [thirty] TWENTY-FIVE years of credit-
ed service or a member who first joins the  New  York  state  and  local
employees'  retirement system or the New York state teachers' retirement
system on or after January first, two thousand ten may retire  prior  to
normal retirement age, but no earlier than attainment of age fifty-five,
in  which  event,  unless  such  person is a member of the New York city
teachers' retirement system who is otherwise eligible for early  service
retirement  pursuant  to  subdivision c of section six hundred four-i of
this article, the amount of his  or  her  retirement  benefit  otherwise
computed  without  optional  modification shall be reduced in accordance
with the following schedule:
  (i) for each of the first  twenty-four  full  months  that  retirement
predates  age sixty-two, one-half of one per centum per month; provided,
however, that for members who first join the New York  state  and  local
employees'  retirement system or the New York state teachers' retirement
system on or after January first, two thousand ten, such  amounts  shall
be equal to one-fifteenth per year; and
  (ii) for each full month that retirement predates age sixty, one-quar-
ter of one per centum per month; provided, however, that for members who
first  join the New York state and local employees' retirement system or
the New York state teachers'  retirement  system  on  or  after  January
first,  two  thousand  ten, such amounts shall be equal to one-twentieth
per year, but in no event shall retirement be permitted prior to attain-
ment of age fifty-five.
  S 5. Paragraph 1 of subdivision d of section 604-c of  the  retirement
and  social security law, as amended by chapter 509 of the laws of 2001,
is amended to read as follows:
  1. In addition to the member contributions  required  by  section  six
hundred  thirteen  of this article, each participant in the twenty-five-
year early retirement program shall contribute (subject to the  applica-
ble  provisions of subdivision d of section six hundred thirteen of this
article) an additional percentage or additional percentages  of  his  or
her compensation to the retirement system of which he or she is a member
in accordance with the following schedule:
  (i)  (A) each such participant shall contribute an additional four and
thirty-five one-hundredths percent of his  or  her  compensation  earned
from  all  credited service (whether or not in a physically taxing posi-
tion) rendered on and after the starting date  of  the  twenty-five-year
early retirement program and prior to the commencement date of the first
payroll  period which begins after January first, nineteen hundred nine-
ty-eight (1) while such person is a participant in such program; and (2)
before such person becomes such a participant pursuant to paragraph  one
or  two  of  subdivision b of this section (whether or not rendered in a

A. 7075--B                          5

New York city eligible position); and (3) after such person ceases to be
a participant, but before he or she again  becomes  such  a  participant
pursuant  to  paragraph  five  of  such  subdivision  b  (whether or not
rendered in a New York city eligible position); and
  (B)  each  such  participant  shall  contribute  an additional two and
eighty-five one-hundredths percent of his  or  her  compensation  earned
from  all  credited service (whether or not in a physically taxing posi-
tion) rendered on and after the commencement date of the  first  payroll
period  which  begins after January first, nineteen hundred ninety-eight
and prior to the commencement date of the  first  payroll  period  which
begins  subsequent  to  the effective date of [the] chapter FIVE HUNDRED
NINE of the laws of two thousand one which amended this item  AND  PRIOR
TO  THE COMMENCEMENT DATE OF THE FIRST PAYROLL PERIOD WHICH BEGINS AFTER
JULY FIRST, TWO THOUSAND TEN (1) while such person is a  participant  in
such  program;  and  (2)  before  such person becomes such a participant
pursuant to paragraph one or  two  of  subdivision  b  of  this  section
(whether  or not rendered in a New York city eligible position); and (3)
after such person ceases to be a participant, but before he or she again
becomes such a participant pursuant to paragraph five of  such  subdivi-
sion  b  (whether or not rendered in a New York city eligible position);
and
  (C) each such participant  shall  contribute  an  additional  one  and
eighty-five  one-hundredths  percent  of  his or her compensation earned
from all credited service (whether or not in a physically  taxing  posi-
tion)  rendered  on and after the commencement date of the first payroll
period which begins subsequent to the effective date  of  [the]  chapter
FIVE  HUNDRED NINE of the laws of two thousand one which added this item
(1) while such person is a participant in such program; and  (2)  before
such  person becomes such a participant pursuant to paragraph one or two
of subdivision b of this section (whether or not rendered in a New  York
city  eligible  position);  and  (3)  after  such  person ceases to be a
participant, but before he or  she  again  becomes  such  a  participant
pursuant  to  paragraph  five  of  such  subdivision  b  (whether or not
rendered in a New York city eligible position); and
  (ii) each such participant who is  employed  in  a  physically  taxing
position  (as  defined  in  paragraph  eleven  of  subdivision a of this
section) shall contribute, in addition to the additional member contrib-
utions required to be made at the percentage of  compensation  specified
in subparagraph (i) of this paragraph for the credited service specified
in  such  subparagraph  (i), an additional one and ninety-eight one-hun-
dredths percent of his or her compensation earned from that  portion  of
such  credited service which is rendered in a physically taxing position
on and after the starting date of the twenty-five-year early  retirement
program  (A) while such person is a participant in such program; and (B)
before such person becomes such a participant pursuant to paragraph  one
or two of subdivision b of this section; and (C) after such person ceas-
es  to  be  a  participant,  but  before  he or she again becomes such a
participant pursuant to paragraph five of such subdivision b.
  (iii) notwithstanding the provisions of subparagraphs (i) and (ii)  of
this  paragraph,  a person who becomes a participant in the twenty-five-
year early retirement program provided by this  section,  who  prior  to
such  membership  was  subject  to the provisions of section six hundred
four-b of this article, shall not be  required  to  pay  the  additional
member  contributions  required  by  subparagraphs  (i) and (ii) of this
paragraph for any period of credited service before  which  such  person
became  a  participant pursuant to paragraph one or two of subdivision b

A. 7075--B                          6

of this section and during which such participant  was  subject  to  the
provisions of such section six hundred four-b and no additional employee
contributions were required of such member.
  S  6.  Paragraph 1 of subdivision f of section 604-d of the retirement
and social security law, as amended by chapter 509 of the laws of  2001,
is amended to read as follows:
  1.  In  addition  to  the member contributions required by section six
hundred thirteen of this article, each participant in the age fifty-sev-
en retirement  program  shall  contribute  (subject  to  the  applicable
provisions  of  subdivision  d  of  section six hundred thirteen of this
article) an additional percentage or additional percentages  of  his  or
her compensation to the retirement system of which he or she is a member
in accordance with the following schedule:
  (i)  (A) each such participant shall contribute an additional four and
thirty-five one-hundredths percent of his  or  her  compensation  earned
from  all  credited service (whether or not in a physically taxing posi-
tion) rendered prior to the commencement date of the first payroll peri-
od which begins after January first, nineteen hundred  ninety-eight  (1)
while  such person is a participant in such program; and (2) before such
person becomes such a participant pursuant to paragraph one or three  of
subdivision  c  of  this  section (whether or not rendered in a New York
city eligible position, and whether rendered before or after the  enact-
ment date of the age fifty-seven retirement program); and (3) after such
person  ceases  to  be a participant, but before he or she again becomes
such a participant pursuant to paragraph  five  of  such  subdivision  c
(whether or not rendered in a New York city eligible position); and
  (B)  each  such  participant  shall  contribute  an additional two and
eighty-five one-hundredths percent of his  or  her  compensation  earned
from  all  credited service (whether or not in a physically taxing posi-
tion) rendered on and after the commencement date of the  first  payroll
period  which  begins after January first, nineteen hundred ninety-eight
and prior to the commencement date of the  first  payroll  period  which
begins  subsequent  to  the effective date of [the] chapter FIVE HUNDRED
NINE of the laws of two thousand one which amended this item  AND  PRIOR
TO  THE COMMENCEMENT DATE OF THE FIRST PAYROLL PERIOD WHICH BEGINS AFTER
JULY FIRST, TWO THOUSAND TEN (1) while such person is a  participant  in
such  program;  and  (2)  before  such person becomes such a participant
pursuant to paragraph one or three of  subdivision  c  of  this  section
(whether  or not rendered in a New York city eligible position); and (3)
after such person ceases to be a participant, but before he or she again
becomes such a participant pursuant to paragraph five of  such  subdivi-
sion  c  (whether or not rendered in a New York city eligible position);
and
  (C) each such participant  shall  contribute  an  additional  one  and
eighty-five  one-hundredths  percent  of  his or her compensation earned
from all credited service (whether or not in a physically  taxing  posi-
tion)  rendered  on and after the commencement date of the first payroll
period which begins subsequent to the effective date  of  [the]  chapter
FIVE  HUNDRED NINE of the laws of two thousand one which added this item
(1) while such person is a participant in such program; and  (2)  before
such  person  becomes  such  a  participant pursuant to paragraph one or
three of subdivision c of this section (whether or not rendered in a New
York city eligible position); and (3) after such person ceases to  be  a
participant,  but  before  he  or  she  again becomes such a participant
pursuant to paragraph  five  of  such  subdivision  c  (whether  or  not
rendered in A New York city eligible position); and

A. 7075--B                          7

  (ii)  each  such  participant  who  is employed in a physically taxing
position (as defined in paragraph eleven of subdivision a of section six
hundred four-c of this article, SUCH SECTION AS ADDED BY  CHAPTER  NINE-
TY-SIX OF THE LAWS OF NINETEEN HUNDRED NINETY-FIVE) shall contribute, in
addition  to  the additional member contributions required to be made at
the percentage of compensation specified in  subparagraph  (i)  of  this
paragraph  for  the credited service specified in such subparagraph (i),
an additional one and ninety-eight one-hundredths percent of his or  her
compensation  earned from that portion of such credited service which is
rendered in a physically taxing position (A)  while  such  person  is  a
participant  in  such program; and (B) before such person becomes such a
participant pursuant to paragraph one or three of subdivision c of  this
section  (whether rendered before or after the enactment date of the age
fifty-seven retirement program); and (C) after such person ceases to  be
a  participant,  but  before  he or she again becomes such a participant
pursuant to paragraph five of such subdivision c.
  (iii) notwithstanding the provisions of subparagraphs (i) and (ii)  of
this paragraph, a person who becomes a participant in the age fifty-sev-
en  early retirement program provided by this section, who prior to such
membership was subject to the provisions of section six  hundred  four-b
of  this  article,  shall  not  be required to pay the additional member
contributions required by subparagraphs (i) and (ii) of  this  paragraph
for  any  period  of  credited service before which such person became a
participant pursuant to paragraph one or three of subdivision c of  this
section  and during which such participant was subject to the provisions
of such section six hundred four-b and no additional  employee  contrib-
utions were required of such member.
  S  7.  This  act  shall take effect immediately and shall be deemed to
have been in full force and effect on and after June 30, 2010; provided,
that the amendments to subdivision a of section 603  of  the  retirement
and  social  security  law  made  by  section three of this act shall be
subject to the expiration and reversion of such subdivision pursuant  to
section  13  of  chapter  682 of the laws of 2003, as amended, when upon
such date the provisions of section  three-a  of  this  act  shall  take
effect.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill  would  allow Tier 2, 3 and 4 members of the New York State
and Local Employees' Retirement System and certain other public  retire-
ment  systems to retire without a benefit reduction due to early retire-
ment upon the attainment of age fifty-five (55) and the completion of at
least twenty-five (25) years of service. It would also amend the employ-
ee contribution payment schedule for certain members  of  the  New  York
City Employees' Retirement System who are covered under the Optional Age
Fifty-Five  Improved  Retirement  Benefit  Program.  This  bill would be
deemed to be in effect on June 30, 2010.
  Insofar as this bill would affect the New York State and Local Employ-
ees' Retirement System, if it is enacted, we anticipate that there would
be  estimated  additional  annual  contributions  of  approximately  $69
million  to  the  State of New York and $98 million to the participating
employers in the New York State and Local Employees' Retirement System.
  This estimate, dated December 21,  2009  and  intended  for  use  only
during  the  2010  Legislative  Session,  is  Fiscal  Note  No. 2010-14,
prepared by the Actuary for the New  York  State  and  Local  Employees'
Retirement System.