NY S05919

First grade police officers with 25 years of service receive pension calculation rights equivalent to third grade detectives with 2 years at the highest detective salary rate.

First grade police officers with 30 years of service receive pension calculation rights equivalent to sergeants with 2 years at the highest sergeant salary rate.

Officers with 25 years of service receive approximately $5,300 additional annual pension benefits; those with 30 years receive approximately $14,900 additional annual pension benefits.

Estimated annual increase in pension benefits paid is approximately $0.5 million, with employer contributions increasing approximately $0.8 million annually beginning in Fiscal Year 2022.

The act takes effect immediately upon enactment.