Bill > S07714

This bill would restore the 20-year service retirement for New York City police officers. Specifically, it would amend the Retirement and Social Security Law to change the normal retirement age for police/fire members of the New York City Police Pension Fund to the age at which a member completes or would have completed 20 years of service, down from the current 22 years. This would allow these members to receive their full normal service retirement benefit after 20 years of service, rather than having to wait until 22 years. The bill would have a fiscal impact, increasing employer contributions to the pension fund by an estimated $12.5 million in the first year, growing to $28.2 million annually after 25 years.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2023/S7714