NY A08187

Allows members of the New York State and Local Employees' Retirement System to purchase up to 5 years of pension service credit for prior federal government employment, provided they were enrolled in a federal defined benefit pension plan

Members who joined the retirement system before April 1, 2012 pay 3% of their most recent annual compensation per year of federal service purchased; members joining on or after that date pay 6%

Requires members to have at least 5 years of credited state service before becoming eligible to purchase federal service credit, and applications must be submitted before retirement

Costs beyond member contributions are paid by the state and participating employers, estimated at approximately 21% of affected members' compensation per year of credited service

Explicitly designed to recruit former federal employees displaced by workforce reductions, including those affected by the Department of Government Efficiency (DOGE) terminations