Bill > A07383

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 service credit from the New York City Employees' Retirement System (NYCERS) to the New York State and Local Police and Fire Retirement System (PFRS). Eligible officers must have at least 2 years of Division of Law Enforcement service and must elect to transfer within 1 year of becoming a PFRS member or the effective date of the bill. The amount of service credit transferred cannot exceed the lesser of the officer's NYCERS service or 10 years. The bill also requires NYCERS to transfer the pension reserves associated with the transferred service credit to PFRS. This change is intended to provide greater pension benefits for eligible officers who transfer systems.

Budget and Finance, Labor and Employment

https://www.nysenate.gov/legislation/bills/2021/A7383