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NY A07827
Bill
Status
4/11/2025
Primary Sponsor
Stacey Pheffer Amato
Click for details
AI Summary
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Reduces the cost for Tier 6 members of the New York State and Local Police and Fire Retirement System (NYSLPFRS) to purchase military service credit from 6% to 3% of their last 12 months' compensation for each year of military service claimed
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Applies to applications received on or after April 1, 2026, for members who first joined the NYSLPFRS on or after April 1, 2012
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Shifts approximately 3% of compensation cost per year of military service purchased from the member to the State of New York and local participating employers
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Takes effect immediately upon enactment
Legislative Description
Relates to obtaining military credit for members of the New York state and local police and fire retirement system; provides that the calculation for military credit shall be equal to the product of the number of years of military service being claimed and three percent of such member's compensation earned during the twelve months of credited service.
Last Action
referred to governmental employees
1/7/2026