The day before Veterans Day, Governor Cuomo vetoed a bill that would have allowed all veterans, including Afghanistan combat veterans to buy-back up to three years of state pension credit based on …
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The day before Veterans Day, Governor Cuomo vetoed a bill that would have allowed all veterans, including Afghanistan combat veterans to buy-back up to three years of state pension credit based on their federal service. Buying it back would not have been charity – veterans would have to pay 3% of their current salary for each year of credit. Currently anyone can buy back any sort of state time for their pension, whether they were picking up trash or washing windows, but many of those who delayed their entry into the state work force by serving in the military, in combat or not, cannot buy back time for their federal service. This bill would have been a good way to bring some cash into the pension system and to encourage some of the higher step public employees to retire sooner, opening the door for lower paid new workers.