S 7115 —

Compared against the New York Consolidated Laws as published AI-generated reading aid — verify against the official bill.

This bill amends 1 section(s) of the New York Consolidated Laws: Section 1000 of the retirement and social security law.

• Section 1000 of the retirement and social security law

  and and and and → 8-a. A person who retired prior to May thirty-first, two thousand seventeen and who would have been entitled to the provisions of this section, may make application to such retirement system no later than December thirty-first, two thousand twenty-five for a supplemental mili- tary retirement allowance pursuant to this subdivision. The supple- mental retirement allowance provided by this subdivision shall be in lieu of any benefit otherwise provided pursuant to this section and any credit granted for military service with any retirement system of this state pursuant to any other section of law. Upon receipt of an applica- tion, the retirement system shall determine the amount of service credit such person would have been entitled to receive pursuant to subdivisions one and two of this section, subject to the limitations contained in this section. The supplemental military retirement allowance shall equal the retirement allowance of such person, computed without optional modification and not to exceed fifteen thousand dollars, multiplied by twenty-five one-hundredths of one percent per month of the service cred- it as determined pursuant to this subdivision. One-twelfth of the supplemental military retirement allowance shall be added to the retire- ment allowance of such person each month. The benefit payable pursuant to this section shall commence on the next retirement allowance payable italics at least thirty days after the receipt of an application from such person. For the purposes of this subdivision, retirement allowance shall exclude any annuity derived from voluntary contributions made by the individual, except those made pursuant to elections under subdivision one of section five hundred eleven-a or paragraph c of subdivision three of section five hundred sixteen of the education law, but shall include any cost of living adjustment derived from sections seventy-eight-a and three hundred seventy-eight-a of this chapter or section five hundred thirty-two-a of the education law, as applicable. The benefit payable pursuant to this subdivision shall be payable for the life of the retired member only, except that the surviving spouse of a deceased member who retired under an option providing a benefit to be continued for life to the surviving spouse after the death of the member shall be entitled to receive fifty percent of the monthly benefit that the retired member would be receiving pursuant to this subdivision, if living, commencing with the next retirement allowance payable at least thirty days after receipt of an application from the retired member for the benefit or payable after the death of the retired member. , and the amount of any supplemental military retirement allowance derived from subdivision eight-a of section one thousand of this chapter , and the amount of any supplemental military retirement allowance derived from subdivision eight-a of section one thousand of this chapter , and the amount of any supplemental military retirement allowance derived from subdivision eight-a of section one thousand of the retirement and social security law , and the amount of any supplemental military allowance derived from subdivision eight-a of section one thousand of the retire- ment and social security law

  amended