Bill > S05557

This bill amends the retirement and social security law to allow police officers employed by the division of law enforcement in the Department of Environmental Protection in New York City to transfer from the New York City Employees' Retirement System (NYCERS) to the New York State and Local Police and Fire Retirement System (PFRS) and receive up to 10 years of service credit in the 20-year or 25-year PFRS plans, provided they have at least 2 years of such service and elect to do so within 1 year of becoming a PFRS member or the effective date of the bill. The amount of service credit received in PFRS cannot exceed the amount credited in NYCERS, and if the member subsequently retires on an age-based plan instead of a 20-year or 25-year plan, the full amount of service credit will be granted. The bill also requires the transfer of pension reserves from NYCERS to PFRS for such members.

Budget and Finance, Labor and Employment

https://www.nysenate.gov/legislation/bills/2021/S5557