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NY S09204
Bill
Status
2/13/2026
Primary Sponsor
Robert Jackson
Click for details
AI Summary
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Reduces the full escalation eligibility threshold for Tier 3 uniformed members of the New York City Fire Department pension fund from 25 years to 23 years of credited service
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Allows partial escalation benefits to begin after 20 years of service (reduced from 22 years), with 1/36th of full escalation granted for each month beyond 20 years
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Increases employer contributions starting at $5.2 million in fiscal year 2027, growing to $14.6 million by 2051, with all costs allocated to New York City
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Affects approximately 6,510 active FIRE members with an average age of 34.5 years and average salary of $118,200
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Creates an initial unfunded accrued liability increase of $18.6 million to be amortized over 17 years at $2.0 million per payment
Legislative Description
Provides that full escalation date means the first day of the month following the date on which a member completes or would have completed twenty-three years of credited service, with respect to service retirement benefits for uniformed members of the New York city fire department pension fund.
Last Action
REFERRED TO CIVIL SERVICE AND PENSIONS
2/13/2026