Bill > S08818

This bill amends the Retirement and Social Security Law to reduce the normal retirement age for police/fire members who are members of the New York City Fire Department Pension Fund. Under the bill, these members would be able to retire with full benefits after 20 years of service, rather than having to wait until a specific age. The bill also specifies that these changes would apply to the relevant provisions in the New York City Administrative Code. The fiscal note estimates that this change would increase employer contributions to the pension fund by several million dollars annually over the next 25 years.