Establishes a twenty-five year retirement program for members of the NYC employees' retirement system employed as water supply police; provides for employer pick-up of certain additional member contributions required to be made by certain participants in the 25-year retirement programs.
Impact
The bill directly impacts the state's retirement and social security law, specifically through amendments that introduce new provisions for the additional contributions required from members participating in the 25-Year Retirement Program. It aims to provide an option for WSP officers to retire earlier while ensuring that their retirement benefits are enhanced, thereby acknowledging the unique nature of their service. By doing so, the bill addresses both the need for adequate retirement security among public safety officials and the implications of managing future employee contributions effectively.
Summary
A10414 is a proposed piece of legislation that aims to establish a 25-Year Retirement Program for members of the New York City Employees' Retirement System (NYCERS) who are employed as Water Supply Police Officers (WSP). The program is designed to enhance the retirement benefits available to these officers, allowing them to retire after 25 years of credited service, contingent on the fulfillment of additional member contributions that would be required under the program. This initiative seeks to provide more robust retirement options to a specific class of public safety personnel within the city government.
Contention
Despite its potential benefits, the proposal has been met with scrutiny regarding its fiscal implications. There are concerns about how the increased employer contributions will affect the city's budget and the sustainability of such a retirement program in the long run. The discussion around A10414 will likely necessitate a thorough analysis of the financial responsibilities it imposes on the NYCERS and potential repercussions for other city-funded services, making the debate on the bill multifaceted and contentious.
Same As
Establishes a twenty-five year retirement program for members of the NYC employees' retirement system employed as water supply police; provides for employer pick-up of certain additional member contributions required to be made by certain participants in the 25-year retirement programs.
Establishes a twenty-five year retirement program for members of the NYC employees' retirement system employed as water supply police; provides for employer pick-up of certain additional member contributions required to be made by certain participants in the 25-year retirement programs.
Establishes a twenty-five year retirement program for members of the NYC employees' retirement system employed as water supply police; provides for employer pick-up of certain additional member contributions required to be made by certain participants in the 25-year retirement programs.
Establishes a twenty-five year retirement program for members of the NYC employees' retirement system employed as water supply police; provides for employer pick-up of certain additional member contributions required to be made by certain participants in the 25-year retirement programs.
Provides for eligibility of certain participants in the New York City employees retirement system to opt into the twenty-five year retirement program for EMT members.
Provides for eligibility of certain participants in the New York City employees retirement system to opt into the twenty-five year retirement program for EMT members.
Provides for the refund of additional member contributions of persons who cease to be members of the age fifty-seven retirement program for certain New York city members because they have become members of the twenty-five year retirement program for EMTs.
Modifies the definition of additional member contributions and basic member contributions for certain New York city employees' retirement system members who are subject to the twenty-five year retirement program for fire protection inspector members under Article 15 of the retirement and social security law, to allow such additional member contributions to be used to offset a deficit of basic member contributions, or to allow an excess of basic member contributions to offset a deficit of additional member contributions.
Relates to the establishment of a twenty-two and one-half year retirement program for members of the New York city employees' retirement system employed as emergency medical technicians and advanced emergency medical technicians and to the establishment of such program for such members who are subject to articles 11 and 15 of the retirement and social security law.
Relates to the establishment of a twenty-two and one-half year retirement program for members of the New York city employees' retirement system employed as emergency medical technicians and advanced emergency medical technicians and to the establishment of such program for such members who are subject to articles 11 and 15 of the retirement and social security law.
Payment rates established for certain substance use disorder treatment services, and vendor eligibility recodified for payments from the behavioral health fund.