Retirement incentive new york 2011

New York is not alone. As tax revenues dive, state and local governments have shed over a half million jobs since the recession began in December And, after adding jobs early in the downturn, the federal government is now cutting them as well.

States cut 49, jobs over the past year and localities ,, according to an analysis of Labor Department statistics. There are 30, fewer federal workers now than a year ago.

The New York state pension system had , active members last year, about two-thirds of them employees of counties, cities, towns, villages, public authorities and school districts outside New York City.

It had , retired workers with ranks of retirees growing faster than active members. So far in it has received another 13, retirement applications. The New York State Teachers Retirement System is separate from the state retirement system and covers upstate public school teachers. Limits the tenure of the temporary president of the senate, speaker of the assembly, majority leader of the senate, minority leader of the senate, majority leader of the assembly and minority leader of the assembly to 8 years; limits the tenure of th Authorizes reduced rates for water charged to laundry businesses.

Establishes a 25 year retirement plan for detention officers employed by the city of Yonkers. Authorizes an appeal by the people, as of right, to an intermediate appellate court from an order of a criminal court, entered before trial, pursuant to section Moreover, the savings come at the cost of losing 9, experienced workers, potentially lowering the level of services.

Open in Our App. Download it here. This legislation allows qualifying individuals to retire early. The pensions of persons opting for early retirement would be calculated based on current, realized incomes; anyone participating in the incentive would not be able to enhance their pension through purchasing additional time.

Allows eligible individuals members of NYSTRS and public higher education employees to retire at the age of 55, so long as they have 25 years of creditable service. The legislation holds an individual harmless from any early retirement reduction in their pension, but does not allow anyone to purchase additional time to add to their pension.