|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 13, 2014||referred to civil service and pensions|
senate Bill S6820
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6820 - Details
- Current Committee:
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Amd §§1000, 78-a & 378-a, R & SS L; amd §532-a, Ed L; amd §13-696, NYC Ad Cd
S6820 - Summary
Relates to supplemental military retirement allowances for members of public retirement systems of the state.
S6820 - Sponsor Memo
BILL NUMBER:S6820 TITLE OF BILL: An act to amend the retirement and social security law, the education law and the administrative code of the city of New York, in relation to supplemental military retirement allowances for members of public retirement systems of the state PURPOSE: This bill intends to provide veterans who have retired from public service in the state with a veterans pension benefit similar to that which active veteran public employees are entitled to receive. SUMMARY OF PROVISIONS: This bill would: 1. Provide that a member of a public retirement system of the State of New York who retired prior to December twenty-first, nineteen hundred ninety-eight may make application to the retirement system for a supplemental military allowance; 2. Apply to persons who meet the eligibility requirements of the veteran's service credit buy back law; 3. Provide a supplemental military allowance equal to .25% for each month of military service of such person, to a maximum of 36 months; 4. Provide that the supplemental military allowance shall apply to the first $15,000, prior to optional modification, of the retired person;
S6820 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6820 I N S E N A T E March 13, 2014 ___________ Introduced by Sen. LARKIN -- 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, the education law and the administrative code of the city of New York, in relation to supplemental military retirement allowances for members of public retirement systems of the state THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1000 of the retirement and social security law is amended by adding a new subdivision 8-a to read as follows: 8-A. A PERSON WHO RETIRED PRIOR TO DECEMBER TWENTY-FIRST, NINETEEN HUNDRED NINETY-EIGHT AND WHO WOULD HAVE BEEN ENTITLED TO THE PROVISIONS OF THIS SECTION, MAY MAKE APPLICATION TO SUCH RETIREMENT SYSTEM NO LATER THAN DECEMBER THIRTY-FIRST, TWO THOUSAND FIFTEEN FOR A SUPPLEMENTAL MILITARY RETIREMENT ALLOWANCE PURSUANT TO THIS SUBDIVISION. THE SUPPLE- MENTAL RETIREMENT ALLOWANCE PROVIDED BY THIS SUBDIVISION SHALL BE IN LIEU OF ANY BENEFIT OTHERWISE PROVIDED PURSUANT TO THIS SECTION AND ANY CREDIT GRANTED FOR MILITARY SERVICE WITH ANY RETIREMENT SYSTEM OF THIS STATE PURSUANT TO ANY OTHER SECTION OF LAW. UPON RECEIPT OF AN APPLICA- TION, THE RETIREMENT SYSTEM SHALL DETERMINE THE AMOUNT OF SERVICE CREDIT SUCH PERSON WOULD HAVE BEEN ENTITLED TO RECEIVE PURSUANT TO SUBDIVISIONS ONE AND TWO OF THIS SECTION, SUBJECT TO THE LIMITATIONS CONTAINED IN THIS SECTION. THE SUPPLEMENTAL MILITARY RETIREMENT ALLOWANCE SHALL EQUAL THE RETIREMENT ALLOWANCE OF SUCH PERSON, COMPUTED WITHOUT OPTIONAL MODIFICATION AND NOT TO EXCEED FIFTEEN THOUSAND DOLLARS, MULTIPLIED BY TWENTY-FIVE ONE HUNDREDTHS OF ONE PERCENT PER MONTH OF THE SERVICE CRED- IT AS DETERMINED PURSUANT TO THIS SUBDIVISION. ONE-TWELFTH OF THE SUPPLEMENTAL MILITARY RETIREMENT ALLOWANCE SHALL BE ADDED TO THE RETIRE- MENT ALLOWANCE OF SUCH PERSON EACH MONTH. THE BENEFIT PAYABLE PURSUANT TO THIS SECTION SHALL COMMENCE ON THE NEXT RETIREMENT ALLOWANCE PAYABLE AT LEAST THIRTY DAYS AFTER THE RECEIPT OF AN APPLICATION FROM SUCH PERSON. FOR THE PURPOSES OF THIS SUBDIVISION, RETIREMENT ALLOWANCE SHALL EXCLUDE ANY ANNUITY DERIVED FROM VOLUNTARY CONTRIBUTIONS MADE BY THE INDIVIDUAL, EXCEPT THOSE MADE PURSUANT TO ELECTIONS UNDER SUBDIVISION EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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