Bill > A07861

This bill provides alternative retirement benefits specifically for police officers employed at Erie County Medical Center. The bill creates a new retirement option that allows qualifying members (sworn police department employees) to retire after 25 years of creditable service without age restrictions, or alternatively after 10 years of service with some limitations. Retirees will receive a pension calculated as one-fiftieth of their final average salary for each year of qualifying service, with a maximum retirement allowance capped at 75% of their final average salary. Members can transfer service credits from other retirement plans, and the increased costs of these benefits will be paid by additional employer contributions. For members appointed after the bill's effective date, mandatory retirement will be enforced at age 62. The bill also modifies existing retirement and social security law to accommodate these new provisions, ensuring that these specific police officers have a more flexible retirement pathway. Importantly, all costs associated with implementing this act will be borne by Erie County Medical Center, with an estimated initial one-time past service cost of approximately $1.32 million and expected annual contribution increases of around $250,000.

Budget and Finance, Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A7861