We are pleased to report that Governor Cuomo has signed into law a bill that is very important to PEF members. Known as the “Postmark Death Gamble”, this law amends retirement and social security law to provide beneficiaries with the same allocation of retirement benefits if the member has the service retirement application, disability retirement applications or option election forms postmarked prior to his or her death.
However, we are very disappointed that the Governor has once again vetoed the “Veterans Buy Back” bill. The legislation would have allowed members of a public retirement system to obtain three years of service credit for up to three years of military duty if they were honorably discharged. The bill would have also broadened eligible servicemembers to include those who served in peacetime and those who served during more-recent conflicts.