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NY A07714
Bill
Status
Introduced
6/6/2023
Primary Sponsor
Stacey Pheffer Amato
Click for details
AI Summary
- NYPD third grade detectives who have served 15 years in that rank would receive pension rights equivalent to second grade detectives
- NYPD second grade detectives who have served 10 years in that rank would receive pension rights equivalent to first grade detectives
- Employer contributions to the pension fund would increase from $0.9 million in 2026 to $25.5 million by 2049
- The Present Value of Future Benefits would increase by approximately $7.5 million annually
- Based on historical data, approximately 40 third grade detectives and 20 second grade detectives per year would benefit from this legislation
Legislative Description
Relates to promotions of detectives; grants detectives of the third grade and detectives of the second grade the same rights in respect to the police pension fund as detectives of a grade higher after a certain period of time.
Last Action
print number 7714a
5/16/2024
Committee Referrals
Governmental Employees6/6/2023
Full Bill Text
No bill text available