Early Retirement Option/Age 55 and 25-Year Retirement Option

Level of Government: State

As a constituent, educator and NYSUT member, I am requesting your support in enacting S.6972 (Savino) / A.10065 (Abbate). This legislation will implement the early retirement option agreed to as part of Chapter 509 of the Laws of 2009, which created a new pension tier within the public retirement system. Specifically, this legislation will enable educators and support staff at every level of New York States' educational system who are 55 or older and have at least 25 years of service ("55/25") the opportunity to retire without incurring a penalty.

Enacting a 55/25 plan option during this time of fiscal uncertainty is important because it balances the planning needs of school administrators and school employees. In addition, S.6712 will provide school districts with increased flexibility to address their local school budgets and will avert staff layoffs by allowing some of a district's highest salaried employees to retire early.

I strongly urge you to vote for the passage of this proposal as soon as possible so that school districts can achieve the maximum budgetary benefit and school employees have sufficient lead-time to make their retirement decisions.

Thank you.

Sincerely,

Your Name Here