New York S 8038: Relates to epinephrine injector device

Bill Text

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S08038 Summary:

BILL NOS08038A

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SAME ASSAME AS A09155

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SPONSORRYAN C

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COSPNSR

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MLTSPNSR

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Add §381-c, R & SS L

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Enacts the State Police Retention act; provides a deferred retirement option plan payable to members and officers of the division of state police.

Go to top S08038 Actions:

BILL NOS08038A

&nbsp

05/15/2025REFERRED TO CIVIL SERVICE AND PENSIONS

05/20/2025AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS

05/20/2025PRINT NUMBER 8038A

01/07/2026REFERRED TO CIVIL SERVICE AND PENSIONS

Go to topS08038 Committee&nbspVotes:

Go to topS08038 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS08038 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8038--A

 2025-2026 Regular Sessions

 IN SENATE

 May 15, 2025
 ___________

 Introduced by Sen. C. RYAN -- read twice and ordered printed, and when
 printed to be committed to the Committee on Civil Service and Pensions
 -- committee discharged, bill amended, ordered reprinted as amended
 and recommitted to said committee

 AN ACT to amend the retirement and social security law, in relation to
 enacting the "State Police Retention act"; and providing for the
 repeal of such provisions upon expiration thereof

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "State Police Retention act".
 3 § 2. The retirement and social security law is amended by adding a new
 4 section 381-c to read as follows:
 5 § 381-c. Deferred retirement option plan payable to members and offi-
 6 cers of the division of state police. a. Deferred retirement option
 7 plan. Deferred retirement option plan, (hereinafter referred to as
 8 "DROP"), is a retirement plan under which an eligible member may elect
 9 to participate, deferring receipt of retirement benefits while continu-
 10 ing employment with the division of state police. For the purposes of
 11 this section, an "eligible member" is any member or officer employed by
 12 the division of state police. During the period of continued employment,
 13 the eligible member's monthly retirement benefit shall be deferred and
 14 held by the retirement system on behalf of the member plus interest at
 15 an effective rate of one and one-half percent for the specific period of
 16 participation in DROP as provided in subdivision c of this section. Upon
 17 completion of the DROP period, the eligible member shall receive the
 18 total amount of retirement benefits deferred under DROP without optional
 19 modification as permitted by subdivisions d and e of this section and
 20 shall begin to receive the previously determined normal service retire-
 21 ment benefit with optional modification as further provided in subdivi-
 22 sion d of this section.
 23 b. Participation in DROP. Any eligible member who is currently
 24 employed by the division of state police and qualifies to retire pursu-
 25 ant to section three hundred eighty-one-b of this title by reason of

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07756-02-5

 S. 8038--A 2

 1 completing twenty years of creditable service may elect to participate
 2 in DROP.
 3 c. Election in DROP. Such election shall be on a form prepared by the
 4 comptroller and may be for any period of time not less than twelve
 5 months or more than thirty-six months duration. Any member who elects to
 6 participate in DROP shall be considered retired on the day following the
 7 expiration of the DROP period, provided, however, that all loans and
 8 excess contributions shall be resolved by the date of entry into DROP.
 9 Upon expiration of the time period selected by the eligible member, such
 10 member's participation in DROP shall terminate.
 11 d. Benefits payable under DROP. (1) Effective with the date of partic-
 12 ipation in DROP, the eligible member's normal service retirement benefit
 13 shall be calculated, using creditable service and final average salary
 14 as if the effective date of retirement was the date of entry into DROP.
 15 The amount deferred pursuant to DROP shall be calculated based upon the
 16 eligible member's