Bill Text: NY S05065 | 2015-2016 | General Assembly | Amended
Bill Title: Relates to supplemental military retirement allowances for members of public retirement systems of the state.
Sponsorship: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced - Dead) 0000-00-00 - REFERRED TO CIVIL SERVICE AND PENSIONS [S05065 Detail]
Download: New_York-2015-S05065-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 5065--A 2015-2016 Regular Sessions IN SENATE April 29, 2015 ___________ Introduced by Sen. LARKIN -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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: 1 Section 1. Section 1000 of the retirement and social security law is 2 amended by adding a new subdivision 8-a to read as follows: 3 8-a. A person who retired prior to December twenty-first, nineteen 4 hundred ninety-eight and who would have been entitled to the provisions 5 of this section, may make application to such retirement system no later 6 than December thirty-first, two thousand sixteen for a supplemental 7 military retirement allowance pursuant to this subdivision. The supple- 8 mental retirement allowance provided by this subdivision shall be in 9 lieu of any benefit otherwise provided pursuant to this section and any 10 credit granted for military service with any retirement system of this 11 state pursuant to any other section of law. Upon receipt of an applica- 12 tion, the retirement system shall determine the amount of service credit 13 such person would have been entitled to receive pursuant to subdivisions 14 one and two of this section, subject to the limitations contained in 15 this section. The supplemental military retirement allowance shall equal 16 the retirement allowance of such person, computed without optional 17 modification and not to exceed fifteen thousand dollars, multiplied by 18 twenty-five one-hundredths of one percent per month of the service cred- 19 it as determined pursuant to this subdivision. One-twelfth of the 20 supplemental military retirement allowance shall be added to the retire- 21 ment allowance of such person each month. The benefit payable pursuant EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04756-03-5
