Relates to obtaining military credit for members of the New York state and local police and fire retirement system, the New York city police pension fund, and the New York city fire pension fund; provides that the calculation for military credit shall be equal to the product of the number of years of military service being claimed and three percent of such member's compensation earned during the twelve months of credited service.
Provides for the transfer of service credit by a member of the New York city police pension fund into the New York city police pension fund.
Provides for the transfer of service credit by a member of the New York city police pension fund into the New York city police pension fund.
Exempts certain military service credit from being included in calculations of up to three years of military service credit for a public retirement system of the state.
Exempts certain military service credit from being included in calculations of up to three years of military service credit for a public retirement system of the state.
Allows members of the New York city fire department pension fund to obtain service credit for retirement eligibility and retirement allowance from any of the public retirement systems of New York state.
Removes the twenty-five year requirement for tier three escalation for service retirement of members of the New York city fire department pension fund.
Removes the twenty-five year requirement for tier three escalation for service retirement of members of the New York city fire department pension fund.
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.
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.