Bill > S08140

This bill provides expanded options for police officers employed by the Metropolitan Transportation Authority (MTA) to transfer their pension membership between different retirement systems. Specifically, the bill allows MTA police officers who are part of the MTA police twenty-year retirement program to transfer their membership to the New York state and local police and fire retirement system, the New York city police pension fund, or other specified retirement systems. The bill updates language to use gender-neutral terminology (changing "his or her" to "their") and removes certain administrative requirements for pension transfers, particularly for members with less than ten years of credited service. The legislation applies to membership transfers initiated on or after January 1, 2023, and aims to provide greater flexibility for MTA police officers in managing their retirement benefits. The bill also establishes provisions for transferring pension reserves and assets between retirement systems, with potential financial implications that may result in gains or losses depending on factors such as the member's service length, age, salary history, and differences in pension plan provisions.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S8140