State extends pension credit for veterans; retirees active in effort

0

ALBANY — Veterans in public employment have won a pension fight that has gone on for years.

CSEA achieved a major legislative goal in getting the Veterans Equality Act passed, giving all public employee military veterans who were honorably discharged, regardless of where or when they performed military duty, the ability to buy back up to three years of military service time for pension credit.

Previously, only certain public employees who served in conflicts that were listed under the law could buy back pension credit. The new law recognizes that all military service, including that in peacetime, matters and is valued by New York state. The new law goes into effect immediately.

While the new legislation does not apply to veterans who are already retired, CSEA retirees fought hard to enact the new law.

“This action addresses a long-standing inequity among military veterans serving in the public service and recognizes the importance of respecting all. I am proud that CSEA veterans were in the forefront of efforts to ensure this fairness,” said CSEA President Danny Donohue.

“The unwavering efforts of state Senate Majority Leader John Flanagan, Assembly Speaker Carl Heastie, Senator William Larkin and Assemblywoman Amy Paulin were essential to this tremendous benefit for our veterans becoming law,” Donohue said.

“It’s excellent news! Great work, everyone who fought so many years for this. This recognizes that all military service matters,” said CSEA Veterans Committee Chair Maryann Phelps.

“We kept up the pressure and worked with our allies to make sure veterans weren’t given the short end of the stick,” said CSEA Retiree Executive Committee Chair Judy Richards. “It took a lot of hard work and persistence, but as a result thousands of public employees who served their country honorably in the armed services will finally be treated fairly.”


Veterans Equality Act
(S. 7160 – Larkin / A. 9531 – Paulin)

In order to buy back the credit, a public employee must:

  • Be honorably discharged from the military;
  • Have five years of credited public service; and
  • Pay either three percent (Tiers 1-5) or six percent (Tier 6) of salary for each year of credit that they are purchasing.
Share.

About Author

Comments are closed.