Yonkers Insider: Abinanti and Martinez Propose Early Retirement Legislation.

FOR IMMEDIATE RELEASE: JULY 2, 2020

ABINANTI AND MARTINEZ PROPOSE EARLY RETIREMENT LEGISLATION.

 

"COVID-19 hit our community like a health earthquake, killing and sickening over 30,000 New Yorkers in Westchester County (1,554 deaths,) and over 300,000 (31,137 deaths) statewide. We must prepare now for the inevitable financial tsunami that will soon swamp our local governments," said Assemblyman Tom Abinanti as he and Senator Monica R. Martinez introduce two bills to permit local governments and school districts to provide early retirement to their employees. 

 "As a former educator, I understand the immense dedication that teachers and civil servants impart into their careers, and they should be able to enjoy the fruits of their careers, the retirement that they worked decades for. The introduced legislation would authorize school districts and local governments to provide an incentive to individuals who have dedicated their careers to the betterment of their communities. An early retirement incentive paves the way for the next generation of public servants to lead," said New York State Senator Monica R. Martinez.
 

Abinanti and Martinez have introduced two bills (A10477/S8151A; A10595/S8599) which would permit those 55 years old with 25 years of service to retire without penalty. Current law requires 30 years on the job. The two bills, still being refined by the sponsors, are based on the 2010 early-retirement law passed in response to the then-financial crisis.

 

"It is better that longtime employees retire with guaranteed income than governments be forced to lay off employees who then seek unemployment benefits," said Abinanti. "Retirements in the short term will cut local payrolls, and in the long term, open jobs for those who want to work in government."

"As the fiscal impact of the pandemic becomes clear, the Legislature must take action to prevent layoffs of public employees and prevent cuts in essential government services. This legislation will ultimately provide immense savings to local governments and school districts. For many, retirement is the opportunity to see others grow behind you," said Senator Martinez.