NY A08026

Reduces normal retirement eligibility for NYC Tier 3 uniformed sanitation workers from 22 years of service to 20 years of service

Increases retirement benefit for members retiring with 20 years of service from 42% of Final Average Salary to 50% of Final Average Salary

Increases employer contributions to NYCERS starting at $2.9 million in fiscal year 2026, rising to $6.1 million by fiscal year 2050

Creates an unfunded accrued liability of $11 million to be paid over 17 years at $1.2 million per payment

Affects approximately 5,074 active members with an average age of 39.9 years and average salary of $94,500