NY S07439

Requires additional member contributions (AMC) from Triborough Bridge and Tunnel Authority (TBTA) employees during periods when they are in non-participating managerial positions but later return to eligible positions

Extends AMC requirements at rates of 5.5% for officers and 6% for sergeants/lieutenants to cover credited service gaps when members temporarily leave the TBTA 20/50 retirement plan

Amends Retirement and Social Security Law Section 604-c to close a loophole where members could avoid contributions by working in managerial positions before returning to eligible positions near retirement

Estimated to reduce actuarial present value of benefits by approximately $60,000 per affected member, with potential total savings of $1,200,000 if 20 currently affected managerial employees are impacted

Takes effect immediately upon enactment