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NY A10487
Bill
Status
5/29/2024
Primary Sponsor
Stacey Pheffer Amato
Click for details
AI Summary
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Amends New York City Administrative Code Section 14-114 to grant sergeants with 15+ years of service the same police pension fund rights as sergeants in sergeant commander detective squad or sergeant special assignment positions.
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Allows pension benefit calculations for qualifying sergeants to be based on the higher salary of sergeant commander detective squad or sergeant special assignment ranks instead of standard sergeant salary.
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Estimated to increase New York City employer pension contributions by $1.4 million in fiscal year 2026, growing to $39.0 million annually by 2049.
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Based on historical data, approximately 80 sergeants per year who have served 15+ years in rank would potentially benefit from the increased pension calculations.
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Takes effect immediately upon enactment.
Legislative Description
Relates to the promotion of sergeants; grants a sergeant who has served for a period of fifteen years the same rights in respect to the police pension fund as a sergeant detailed to act as sergeant commander detective squad or sergeant special assignment.
Last Action
referred to governmental employees
5/29/2024