Restores 20 year service retirement for New York city police officers.

This bill proposes to amend the retirement and social security law to restore the 20-year service retirement eligibility for New York City police officers. It adjusts the normal retirement age for these officers to the age at which they complete or would have completed 20 years of service. Currently, Tier 3 police officers who retire with at least 20 years of service receive an annual benefit equal to 42% of their Final Average Salary (FAS), increasing to 50% of FAS after 22 years of service.

Restores 20 year service retirement for New York city police officers.

This bill proposes to amend the retirement and social security law to restore the 20-year service retirement eligibility for New York City police officers. It adjusts the normal retirement age for these officers to the age at which they complete or would have completed 20 years of service. Currently, Tier 3 police officers who retire with at least 20 years of service receive an annual benefit equal to 42% of their Final Average Salary (FAS), increasing to 50% of FAS after 22 years of service.