Allows federal government employees to purchase service credit for New York state pension.

The BRIDGE Act allows members of the New York State and Local Retirement System to obtain up to five years of service credit for prior federal government employment, provided they were enrolled in a federal defined benefit pension plan. Members must apply for this credit before retirement and pay three percent of their most recent compensation for each year of credit. Member contributions are refunded with interest if the purchased service does not improve their death or retirement benefit. The state and local employers share the remaining costs.

Allows federal government employees to purchase service credit for New York state pension.

The BRIDGE Act allows members of the New York State and Local Retirement System to obtain up to five years of service credit for prior federal government employment, provided they were enrolled in a federal defined benefit pension plan. Members must apply for this credit before retirement and pay three percent of their most recent compensation for each year of credit. Member contributions are refunded with interest if the purchased service does not improve their death or retirement benefit. The state and local employers share the remaining costs.