STATE OF NEW YORK
________________________________________________________________________
9851
IN ASSEMBLY
April 15, 2016
___________
Introduced by M. of A. ABBATE -- read once and referred to the Committee
on Governmental Employees
AN ACT to amend the retirement and social security law, in relation to
mandatory retirement age
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:
1 Section 1. Subparagraph (f) of paragraph 1 and the opening paragraph
2 of subparagraph (g) of paragraph 2 of subdivision e and subdivisions h
3 and k of section 384 of the retirement and social security law, as
4 amended by chapter 1043 of the laws of 1968, are amended to read as
5 follows:
6 (f) Upon completion of twenty-five years service, an additional
7 pension, if required, of such amount as shall be necessary to increase
8 the total amount of the benefits provided herein to one-half of his
9 final average salary. The pension provided by this [sub-paragraph]
10 subparagraph shall be payable only if a member retires from service on
11 or before the last day of the calendar month next succeeding the calen-
12 dar month in which he attains age [sixty-two] sixty-five. Provided,
13 however, that in the case of any member who attained the age of [sixty-
14 two] sixty-five on or before July first, nineteen hundred sixty-six, to
15 be eligible for additional pension credit under this [sub-paragraph]
16 subparagraph, his service shall be terminated and he shall retire on or
17 before December thirty-first, nineteen hundred sixty-seven. For the
18 purpose only of determining the amount of the pension provided in this
19 paragraph, the annuity shall be computed as it would be if it were not
20 reduced by the actuarial equivalent of any outstanding loan, and if it
21 were not increased by the actuarial equivalent of any additional
22 contributions, and if it were not reduced by reason of the member's
23 election to decrease his annuity contributions to the retirement system
24 in order to apply the amount of such reduction in payment of his
25 contributions for old-age and survivors insurance coverage.
26 Upon completion of twenty-five years service, an additional pension,
27 if required, of such amount as shall be necessary to increase the total
28 amount of the benefits provided herein to one-half of his final average
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14784-02-6