NY A08231

Allows active members of the New York State and Local Police and Fire Retirement System who previously served as Long Island Railroad Company police officers to purchase up to three years of service credit for that employment

Members must file a written request within one year of the act's effective date and pay 3% of their most recent 12 months' compensation for each year of service credit purchased

Eligibility requires at least five years of credited service in the retirement system (excluding the LIRR service being purchased)

All past service costs from this provision will be borne by the State of New York, estimated at 22% of affected members' compensation per year of service credit purchased

Fiscal impact for one known affected member is approximately $153,000, with the total number of eligible current and future members undetermined