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Bill > A07824
NY A07824
NY A07824Extends the benefits of the variable supplements fund for transit police members of the New York city employees' retirement system for persons who retired on or after October 1, 1968.
summary
Introduced
06/15/2023
06/15/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the administrative code of the city of New York, in relation to extending the benefits of the variable supplements fund for transit police members of the New York city employees' retirement system
AI Summary
This bill extends the benefits of the variable supplements fund (VSF) for transit police members of the New York City Employees' Retirement System (NYCERS) who retired on or after October 1, 1968. Previously, only those who retired on or after July 1, 1987 were eligible for these supplemental non-pension benefits. The bill makes former NYCERS members who retired from the New York City Transit Police between October 1, 1968 and June 30, 1987 with 20 or more years of service immediately eligible for the $12,000 annual VSF benefits. This change will result in an expected increase of $20.9 million in employer contributions to NYCERS, which will be allocated entirely to New York City.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
print number 7824a (on 02/29/2024)
Official Document
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