Establishes a Deferred Retirement Option Plan (DROP) for New York State Police officers.

The bill enacts the State Police Retention act, which provides a deferred retirement option plan (DROP) for members and officers of the New York State Division of State Police. Eligible members can defer their retirement benefits while continuing employment for a period of one to three years. During this period, their monthly pension is deferred and held by the New York State and Local Police and Fire Retirement System (NYSLPFRS). Upon completion of the DROP period, the deferred benefits, plus interest, are paid to the member.

Establishes a Deferred Retirement Option Plan (DROP) for New York State Police officers.

The bill enacts the State Police Retention act, which provides a deferred retirement option plan (DROP) for members and officers of the New York State Division of State Police. Eligible members can defer their retirement benefits while continuing employment for a period of one to three years. During this period, their monthly pension is deferred and held by the New York State and Local Police and Fire Retirement System (NYSLPFRS). Upon completion of the DROP period, the deferred benefits, plus interest, are paid to the member.