Bill > S02710

This bill restores the 20-year service retirement option for New York City police officers, specifically for members of the New York City Police Pension Fund. Currently, police/fire members are required to complete 22 years of service before being eligible for normal retirement benefits. The bill changes this requirement, allowing police officers to receive full retirement benefits after 20 years of service instead of 22. This means that Tier 3 police officers will now be eligible to receive an annual benefit equal to 50% of their Final Average Salary (FAS) upon reaching 20 years of service, which is an improvement from the previous requirement. The fiscal note indicates that this change will have financial implications for the city, with projected increases in employer contributions over time. The bill will affect approximately 21,782 active police officers, with an average age of 33.2 years, average service of 6.5 years, and average salary of $116,200. The legislation is designed to provide earlier retirement options for New York City police officers and is set to take effect immediately upon enactment.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S2710