NY A06538

Expands eligibility for purchasing service credit for unpaid child care leave to include correction officers in the New York City Uniformed Correction/Sanitation Revised Plan (Tier 3 Enhanced and Revised plans).

Allows eligible members to purchase up to one year of service credit per authorized unpaid child care leave period by contributing the amount they would have paid during the leave, plus interest.

Members must file a claim for service credit within 90 days of terminating child care leave or by December 31, 2005, whichever is later.

Estimated to increase annual employer contributions to the New York City Employees' Retirement System by approximately $10,900 per year and increase present value of future employer contributions by approximately $92,500 annually.

Takes effect immediately upon enactment.