NYS Increases Gold Star Family Payments
New York is increasing the rate of compensation for Gold Star Parents who have lost a child in the armed services during a time of war. Under current law, Gold Star Parents are paid $500 annually with no provision for an annual increase. This new legislation allows for an annual increase at a rate equal to the percentage increase of benefits set by the U.S. Department of Veterans’ Affairs. The Gold Star annuity is a special income-eligible annuity to recognize the emotional loss and financial implications of parents whose child has died serving this country.