Authorizes Anthony A. Fede Tier I status in the New York state and local employees' retirement system.

This bill authorizes Anthony A. Fede to be granted Tier I status in the New York state and local employees' retirement system. Fede, currently a Tier 4 retiree, will have his retirement benefit recalculated and paid retroactively to his retirement date. The bill specifies that no contributions will be refunded to Fede, and any past service costs will be shared by the State of New York and local employers in the retirement system. If enacted during the 2025 Legislative Session, the bill will result in an immediate past service cost of approximately $222,000.

Authorizes Anthony A. Fede Tier I status in the New York state and local employees' retirement system.

This bill authorizes Anthony A. Fede to be granted Tier I status in the New York state and local employees' retirement system. Fede, currently a Tier 4 retiree, will have his retirement benefit recalculated and paid retroactively to his retirement date. The bill specifies that no contributions will be refunded to Fede, and any past service costs will be shared by the State of New York and local employers in the retirement system. If enacted during the 2025 Legislative Session, the bill will result in an immediate past service cost of approximately $222,000.