Establishes an optional twenty-five year retirement plan for certain employees of the New York Power Authority.

The bill amends the retirement and social security law to establish an optional twenty-five year retirement plan for employees of the New York Power Authority who are members of a certified or recognized public employee organization. Eligible employees can retire after 25 years of service, receiving a pension that includes an annuity based on their contributions and an additional pension based on their increased take-home pay. Members in other plans can switch to this plan within one year of its enactment. The New York Power Authority will cover past service costs.

Establishes an optional twenty-five year retirement plan for certain employees of the New York Power Authority.

The bill amends the retirement and social security law to establish an optional twenty-five year retirement plan for employees of the New York Power Authority who are members of a certified or recognized public employee organization. Eligible employees can retire after 25 years of service, receiving a pension that includes an annuity based on their contributions and an additional pension based on their increased take-home pay. Members in other plans can switch to this plan within one year of its enactment. The New York Power Authority will cover past service costs.