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NY S07808
Bill
Status
5/9/2025
Primary Sponsor
Jessica Scarcella-Spanton
Click for details
AI Summary
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Equalizes the pension salary base calculation for NYPD officers hired on or after July 1, 2000 with those hired before that date
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Officers hired after July 1, 2000 currently use only their final 12 months of earnings to calculate pension benefits; this bill allows them to use the greater of final 12 months or their highest consecutive three-year average
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Applies to approximately 10,574 active Tier 2 members of the New York City Police Pension Fund with an average salary of $165,900
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Increases employer contributions by $8.4 million in fiscal year 2026, declining to $0.5 million by 2031, with all costs allocated to New York City
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Creates an initial increase in the present value of benefits of $33.6 million and adds $28.5 million to the unfunded accrued liability
Legislative Description
Relates to the determination of salary base for members of the New York city police pension fund; provides that the salary base for members of the New York city police pension fund whose employment with the police department of the city of New York commenced on or after July 1, 2000 shall be determined in the same manner as members whose employment commenced prior to such date.
Last Action
REPORTED AND COMMITTED TO FINANCE
3/10/2026