Some state workers could get early retirement in New York: Here’s how it would work under one proposal

Lawmakers in Albany are exploring the possibility of an early retirement program for public workers and educators.

Gannett reports that the state’s teachers union is supporting the early retirement plan, which would allow employees who are 55 or older with 10 years to take retirement. It would also apply to other employees with 25 years of service- no matter their age.

The bill would dictate who could apply for the early retirement package based on what positions could be eliminated.

Police and fire workers were not included in the measure.

Lawmakers cited the pandemic as a cause for the early retirement opportunity- which was also instituted during the financial crisis of 2008 and 2009.

Staff Report

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