|Serving New York Educators Since 1921|
John F. Sullivan (as President of the Empire State Supervisors and Administrators Association) and Larraine Gegerson (individually and as President of the Baldwin Supervisors Association) have brought a lawsuit against Governor Paterson, NYSLERS, and NYSTRS claiming the 55/25 incentive law (Chapter 45) is unconstitutional as written. The litigants seek a judgment to amend the current 55/25 incentive so it is more inclusive and allows more groups to participate. We will ask the Court to issue a ruling as quickly as possible so all impacted parties can move ahead as needed on a timely basis. However, there is no way to predict when or what the Court may do. At this time, NYSTRS is moving ahead with administering the 55/25 incentive as written.
It is important to remember that members can withdraw their retirement application with NYSTRS up to 14 days after their date of retirement. However, resigning from an employer is a separate and distinct action. If members plan to resign and retire under the 55/25 incentive, they should be aware resignations submitted to a school district can be rescinded only until they are accepted by the Board of Education.
As things develop, we will keep our eebsite updated should the Chapter 45 (55/25) incentive legislation be impacted in any way. For news of any future legislative actions impacting NYSTRS benefits, monitor the Legislation page of our website.