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NY A09633
Bill
Status
3/26/2024
Primary Sponsor
Stacey Pheffer Amato
Click for details
AI Summary
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Allow DEP police officers transferring from the New York City Employees' Retirement System (NYCERS) to the New York State and Local Police and Fire Retirement System (NYSLPFRS) to receive creditable service in 20-year or 25-year retirement plans if they had at least two years of employment.
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Permit officers to elect within one year of joining NYSLPFRS or within one year of this law's effective date to have their DEP service credited, with a maximum of 10 years of service credit.
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Cap service credit in NYSLPFRS at the lesser of actual service earned in NYCERS or 10 years total.
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Require transfer of pension reserves from NYCERS to NYSLPFRS for affected officers, regardless of length of service.
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Prevent officers receiving service credit under this provision from also receiving additional service credit under separate transfer provisions if their employer elects to provide such credit.
Legislative Description
Relates to the calculation of past service credit for police officers employed by the division of law enforcement in the department of environmental protection in the city of New York transferring between the New York city employees' retirement system to the New York state and local police and fire retirement system.
Last Action
print number 9633a
3/28/2024