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NY A09325
Bill
Status
2/23/2022
Primary Sponsor
Peter Abbate
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AI Summary
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Establishes a 20-year retirement plan for non-seasonally appointed sworn law enforcement officers in the Department of Environmental Conservation, forest rangers, regional state park police, and university police officers.
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Members with 20 years of service receive a pension equal to one-half of final average salary; members with more than 20 years receive an additional one-sixtieth of final average salary per excess year, capped at three-quarters of final average salary.
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Members with fewer than 20 years at mandatory retirement age receive one-fortieth of final average salary per year of creditable service, not exceeding one-half of final average salary.
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Allows credit for previous service as a police officer or peace officer with other employers, including transfers from the New York state and local employees' retirement system.
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State of New York bears all past service costs, which may be amortized over 10 years; fiscal estimate projects $4.5 million in annual contributions and $55.6 million in immediate past service costs based on 1,168 affected members.
Legislative Description
Relates to establishing a twenty year retirement plan for members or officers of law enforcement; includes every non-seasonally appointed sworn member or officer of the division of law enforcement in the department of environmental conservation, a forest ranger in the service of the department of environmental conservation, a police officer in the department of environmental conservation, the regional state park police, and university police officers in such twenty year plan.
Last Action
substituted by s8477
6/1/2022