Bill > S07004

This bill establishes a new optional retirement plan for state correction officers and other state employees directly engaged in correction officer duties, allowing them to retire after twenty years of creditable service, which includes service as a correction officer, state police, or firefighter/police officer, provided they contributed to the retirement system. Under this plan, upon completing twenty years of service, members will receive a retirement allowance equal to one-fortieth of their final average salary (FAS) for each year of service, capped at half of their FAS. Alternatively, if they reach age sixty-two without twenty years of service, they will receive a pension based on their creditable service, also capped at half of their FAS, with provisions for additional pension benefits for service exceeding twenty years, up to three-quarters of their FAS, if elected by the employer. The state will cover the costs of these enhanced benefits through additional contributions, and the plan also allows for full credit for military service.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S7004