Establishes an optional twenty-five year retirement plan for certain employees of the New York Power Authority

Summary

The bill lets NYPA employees in certain trades retire after 25 years of service with a pension equal to half their final average salary, regardless of age. It adds a new retirement option that works alongside existing state retirement systems and shifts all associated costs to the Power Authority. The measure is intended to give these workers a clearer, earlier path to retirement while funding the change through the Authority’s own budget.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share