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NYS Retirement Incentive
For UPSEU members who are participants in the NY State Employee Retirement System, the legislature has passed and the Governor has signed into law a retirement incentive that has 2 parts. A participant may only pick one.
As part of the legislation participation is determined by the government body. The municipality must adopt participation.
The first option is an incentive of one month for every year of service to a maximum of thirty six months. This option is a targeted incentive and requires that the position targeted not be filled.
The second incentive is a 25/55. This incentive does not require that the position not be filled and is not a targeted incentive.
Again, both incentives are optional for employers. We are communicating with all of our members’ employers to determine their participation.
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