Summary of 2001 Legislation

• Minimum Retirement Allowance signed into law on December 19, 2001 as Chapter 580.
• Earnings After Retirement signed into law on September 5, 2001 as Chapter 281.

The following is a summary of STRS-related legislation that was signed into law in 2001:

Minimum Retirement Allowance

Highlights:

• Increases the minimum retirement allowance for members who retired prior to July 1, 1970 to $500 per year of service, up to a 35-year maximum of $17,500.

Effective Date:  July 1, 2001

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Earnings After Retirement

Highlights:

• Increases the earnings limit for New York State public employment under Section 212 of the Retirement & Social Security Law to $20,000 a year for calendar year 2002. 

Effective Date: January 1, 2002

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