NY A10539

Removes the age 50 requirement for Triborough Bridge and Tunnel Authority (TBTA) members to retire under the twenty-year retirement program, allowing retirement after 20 years of credited service regardless of age.

Tier 4 members with 5-20 years of service who leave employment become eligible for vested benefits payable when they complete 20 years of service, without age requirement; Tier 6 members continue to receive vested benefits at age 63.

Updates Criminal Procedure Law to expand the peace officer designation of TBTA employees to include captains, inspectors, deputy chiefs, assistant chiefs, and chiefs, in addition to existing officers, sergeants, and lieutenants.

Requires the TBTA to elect by resolution within 120 days of enactment to provide the retirement incentive; if the authority does not elect, the retirement benefit changes are automatically repealed.

Increases annual employer contributions to the New York City Employees' Retirement System (NYCERS) by approximately $1.8 million per year for affected TBTA employees over a seven-year amortization period.