Gov. Paterson has introduced a program bill to create a one-year option for NYSUT members with at least 25 years of service to retire without penalty at age 55.

Sponsored by Sen. Diane Savino, D-Staten Island, and Assemblyman Peter Abbate, D-Brooklyn, the bill (S6972/ A10065) would implement the 55/25 option agreed to as part of the legislation that created Tier 5 late last year.

The bill would give eligible NYSUT members in the state Teachers' Retirement System and Employees' Retirement System a 90-day window in which to retire without incurring a penalty.

The window for K-12 would be June 1 through Aug. 31; the window for SUNY and community colleges would be set by the SUNY board of trustees.

This option would be available exclusively to NYSUT members and entirely at the employee's choice, unlike previous early-retirement incentives, which required the school district to "opt in" to the plan.

NYSUT will urge lawmakers to fast-track the bill to give school districts an opportunity to better address their local budgets and avert staff layoffs, and provide members with sufficient time to make retirement decisions.

NYSUT members can send lawmakers a letter in support of the bill by going to politicalaction.nysut.org.