New York S07143 provides alternative retirement benefits for police officers at Erie County Medical Center.

New York S07143 amends the retirement and social security law to provide alternative retirement benefits for the police force at Erie County Medical Center. Qualifying members, defined as those in service as sworn members, can retire after 25 years of qualifying creditable service. They receive a pension equal to one-fiftieth of their final average salary for each year of qualifying creditable service, not exceeding 75% of their final average salary. The bill also allows members to transfer service credits from other plans and mandates retirement at age 62 for new members.

New York S07143 provides alternative retirement benefits for police officers at Erie County Medical Center.

New York S07143 amends the retirement and social security law to provide alternative retirement benefits for the police force at Erie County Medical Center. Qualifying members, defined as those in service as sworn members, can retire after 25 years of qualifying creditable service. They receive a pension equal to one-fiftieth of their final average salary for each year of qualifying creditable service, not exceeding 75% of their final average salary. The bill also allows members to transfer service credits from other plans and mandates retirement at age 62 for new members.