Bill > S06437

This bill amends the retirement and social security law to allow members of the New York City Police Pension Fund (NYCPPF) to obtain retirement credit for specific prior non-uniformed service. Specifically, the bill enables Tier 2 police pension fund members to receive credit for periods worked as an assistant district attorney in a New York City county or as an examining attorney for the New York City Commission to Combat Police Corruption. To receive this credit, members must pay or transfer all required member contributions plus 5% annual interest into the NYCPPF. For members transferring contributions from the New York City Employees' Retirement System, their membership in that system will cease, and they will forfeit any previously credited service. The bill is narrowly tailored, with the fiscal note indicating that currently only one Tier 2 police pension member would be impacted. The service credit transfer would allow these members to potentially qualify for an unreduced service retirement benefit by including the prior non-uniformed service in their total years of service. The fiscal impact is estimated to be relatively modest, with an initial increase in employer contributions and actuarial present value of benefits around $131,000, and amortization payments of approximately $359,000 over two payments.

Budget and Finance, Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S6437