Bill > S08093

This bill allows members of the New York City Fire Department Pension Fund to obtain service credit from other public retirement systems in New York State for the purposes of retirement eligibility and calculating retirement benefits. Under this legislation, firefighters can now transfer their prior service credits from various state and city retirement systems, including the New York State and Local Employees' Retirement System, New York State Teachers' Retirement System, New York City Employees' Retirement System, and several others. To do so, the member must pay or transfer all of their previously accumulated member contributions plus interest (at either 5% or 8.25% per annum, depending on the section of the bill) into the New York City Fire Department Pension Fund. When a member transfers or withdraws their contributions from another public retirement system, their membership in that system will cease, and they will no longer retain any credited service in that system. The bill aims to provide more flexibility for firefighters in consolidating their retirement benefits across different public pension systems in New York State, potentially making it easier for them to qualify for retirement and maximize their pension benefits.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S8093