NY A05376

Increases pension calculation salary for NYPD detectives, sergeants, and lieutenants based on years of uniformed service: 5% bonus at 25 years, 10% at 30 years, and 15% at 35 years of service

The percentage bonus is applied to the highest grade of pay under the applicable collective bargaining agreement for the retiring member's rank

Members receiving this pension enhancement cannot also receive additional increases under section 14-111 of the administrative code

Projected employer contribution increases start at $2.8 million in fiscal year 2027 and rise to $80.7 million by fiscal year 2050, with all costs allocated to New York City

Estimated to increase unfunded accrued liability by approximately $23.3 million in the first year, with annual pension benefit payouts increasing by approximately $1.9 million initially