NY S09203

Allows Tier 3 members of the New York City Fire Department Pension Fund to receive full escalation retirement benefits at 20 years of service instead of the current 25-year requirement

Amends Section 510 of the Retirement and Social Security Law to create a separate eligibility provision specifically for uniformed FDNY members

Increases employer contributions starting at $22.6 million in fiscal year 2027, rising to $59.2 million by fiscal year 2051

Affects approximately 6,510 active FDNY members with an average age of 34.5 years and average service of 6.4 years

Creates an initial unfunded accrued liability increase of $79.3 million, to be amortized over 17 annual payments of $8.3 million each