Bill
A 5465
Bill A 5465 grants Kenneth Panaro retroactive Tier IV membership in New York's retirement system, enhancing his retirement benefits and financial security.
Bill Number: A 5465
Title: Grants retroactive tier IV membership in the New York state and local employees' retirement system to Kenneth Panaro
Status: Referred to Governmental Employees
Introduced: February 14, 2025
Classification: Bill
Bill A 5465 aims to grant retroactive Tier IV membership in the New York State and Local Employees' Retirement System specifically to an individual named Kenneth Panaro. This legislation seeks to rectify or acknowledge a prior oversight regarding Panaro's retirement benefits, allowing him to receive the benefits associated with Tier IV membership retroactively.
Retroactive Membership: The bill proposes that Kenneth Panaro be granted Tier IV membership retroactively, which would allow him to access the benefits and contributions associated with this tier.
Impact on Retirement Benefits: By receiving Tier IV status, Panaro would potentially benefit from enhanced retirement benefits, which may include higher pension payouts and improved retirement security compared to lower tiers.
Eligibility Criteria: The bill does not specify any additional eligibility criteria beyond the individual named, indicating a focused approach to addressing Panaro's situation.
Kenneth Panaro: The primary beneficiary of this bill is Kenneth Panaro, who would receive enhanced retirement benefits through the New York State and Local Employees' Retirement System.
Retirement System: The New York State and Local Employees' Retirement System may experience administrative changes to accommodate this retroactive membership, which could set a precedent for similar cases in the future.
Legislative Process: As of February 14, 2025, the bill has been referred to the Governmental Employees Committee for further consideration. This step is crucial for the bill's advancement through the legislative process.
Companion Bill: There is a related bill, S 4324, which serves as a companion to A 5465. This indicates that there may be parallel efforts in the Senate to address the same issue, potentially facilitating a more streamlined legislative process.
Bill A 5465 represents a targeted legislative effort to address the retirement benefits of an individual, Kenneth Panaro, by granting him retroactive Tier IV membership in the New York State and Local Employees' Retirement System. The bill's progress through the Governmental Employees Committee will determine its future and the potential impact on Panaro's retirement benefits.
Compiled from official sources — confirm details with the bill’s official record.
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