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NY S07516
Bill
Status
5/6/2016
Primary Sponsor
Martin Golden
Click for details
AI Summary
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Amends Administrative Code Section 14-114 to grant lieutenants who have served 15 years in rank the same police pension fund rights as lieutenants detailed to act as lieutenant commander detective squad or lieutenant special assignment.
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Affected lieutenants would receive an estimated annual pension increase of approximately $6,000 per year.
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Total annual increase in POLICE pension payouts estimated at approximately $65,000 per year.
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Estimated actuarial present value of benefits increase of approximately $900,000 in the first year.
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Estimated increase in employer contributions of approximately $110,000 beginning in Fiscal Year 2019.
Legislative Description
Relates to promotions of lieutenants; grants a lieutenant who has served for a period of fifteen years the same rights in respect to the police pension fund as a lieutenant detailed to act as lieutenant commander detective squad, or lieutenant special assignment.
Last Action
COMMITTED TO RULES
6/17/2016