Age 55/25 Year Retirement Members in Tiers II, III and IV
Level of Government: State
As a constituent, an educator and a union member, I am writing to request your support for legislation enabling members in Tiers II, III and IV who are age 55 or older with at least 25 years of service to retire without penalty (S.3201-A by Senator Robach/A.5807-A by Assemblymember McEneny).
Currently, any public employee who entered the workforce subsequent to July 1, 1973 is required to work until age 62 OR to have at least 30 years of service to retire without his or her pension benefit being penalized.
This legislation confers no additional benefits. This legislation merely reduces the onerous and arbitrary penalties imposed upon those senior public employees who already meet the minimum qualifications for retirement. Specifically, this legislation would afford all Tier II, III and IV members the option to retire, without penalty, upon the attainment of age 55 AND 25 years of service.
This legislation is important because it will afford public employers an immediate cost savings by allowing the most senior, highest salaried employees the ability to retire earlier. More importantly, however, this legislation will provide those long-term, career public employees who are forced to retire earlier in order to care for sick loved ones or to deal with other family or personal issues the full benefit that they earned in public service.
I urge you to work to enact this legislation before the end of the 2006 Legislative Session.
Thank you.
Sincerely,
Your Name Here
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