NY A09540

Allows uniformed court officers and peace officers employed by the unified court system to retire at age 55 with 30 years of service without benefit reduction, regardless of when they became members (Tier 6 members previously had age 63 requirement).

Reduces normal retirement age from 63 to 62 for peace officers and uniformed court officers of the unified court system who are Tier 6 members.

Reduces early retirement benefit reductions for peace officers and uniformed court officers of the unified court system, allowing them to retire prior to normal retirement age with lesser actuarial adjustments than other Tier 6 members.

Estimated cost of $34.2 million in present value of benefits to the New York State and Local Employees' Retirement System (NYSLERS), with $18.9 million in retrospective costs due March 1, 2025, and approximately $2.2 million in annual prospective costs beginning fiscal year 2025.

Takes effect immediately, affecting approximately 2,207 unified court system members with annual salaries of approximately $166 million as of March 31, 2023.