New York A 9155: Relates to enacting the "State Police Retention act"

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A09155 Summary:

BILL NOA09155 

&nbsp

SAME ASSAME AS S08038-A

&nbsp

SPONSORConrad

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §381-c, R & SS L

&nbsp

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 A09155 Actions:

BILL NOA09155 

&nbsp

10/17/2025referred to governmental employees

01/07/2026referred to governmental employees

Go to topA09155 Committee&nbspVotes:

Go to topA09155 Floor&nbspVotes:

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

Go to topA09155 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9155

 2025-2026 Regular Sessions

 IN ASSEMBLY

 October 17, 2025
 ___________

 Introduced by M. of A. CONRAD -- read once and referred to the Committee
 on Governmental Employees

 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
 26 completing twenty years of creditable service may elect to participate
 27 in DROP.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07756-03-5

 A. 9155 2

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