Bill > A08674

This bill establishes a 25-year retirement program specifically for water supply police members of the New York City Employees' Retirement System (NYCERS), providing enhanced retirement benefits and a unique contribution structure. Water supply police members who opt into this program can retire after 25 years of service with a retirement allowance equal to 50% of their final average salary, plus an additional 2% for each year of service beyond 25 years, up to a maximum of 30 years. To participate, members must make additional member contributions of 6% of their compensation until they reach either 25 years of service or one year after the program's start date. The bill allows current Tier 4 and Tier 6 water supply police members a 180-day window to elect to join the program, with new members automatically enrolled unless they are over 30 years old upon employment. The city of New York will pick up these additional member contributions, effectively reducing the direct financial burden on participants. The legislation is designed to provide these specialized law enforcement personnel with an improved retirement option while maintaining fiscal sustainability through the additional contribution mechanism.

Budget and Finance, Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A8674