New York S03314 amends retirement benefits for certain county employees, providing an additional retirement allowance for service beyond 25 years.
New York S03314 amends the Retirement and Social Security Law to enhance retirement benefits for certain county employees. Specifically, it provides an additional retirement allowance for each year of credited service beyond 25 years. This allowance is calculated as one-sixtieth of the member's final average salary for each year of service over 25 years. The total pension payable cannot exceed three-quarters of the member's final average salary.
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