NY S04262

Increases pension benefits for NYPD detectives, sergeants, and lieutenants by adding a percentage of their highest grade of pay to the salary used to calculate pension benefits

Members with 25 years of uniformed service receive a 5% boost; 30 years receive 10%; 35 years receive 15%

Members receiving this pension increase are ineligible for additional increases under section 14-111 of the administrative code

Employer contributions to the Police Pension Fund would increase from $2.8 million in FY2027 to $80.7 million by FY2050, with all costs borne by New York City

Takes effect immediately upon enactment