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NY A10254
Bill
Status
2/12/2026
Primary Sponsor
Stacey Pheffer Amato
Click for details
AI Summary
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Removes the 25-year service requirement for Tier 3 NYC Fire Department pension fund members to receive full escalation benefits, reducing it to 20 years of service
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Full escalation provides 100% cost-of-living adjustments based on CPI applied to the entire retirement benefit, compared to partial escalation or basic COLA for earlier retirees
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Increases employer contributions starting at $22.6 million in fiscal year 2027, rising to $59.2 million by fiscal year 2051
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All increased employer contribution costs will be allocated entirely to New York City
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Affects approximately 6,510 active Tier 3 fire department members with an average age of 34.5 years and 6.4 years of service
Legislative Description
Removes the twenty-five year requirement for tier three escalation for service retirement of members of the New York city fire department pension fund.
Last Action
referred to governmental employees
2/12/2026