New York S08121 allows certain NYCERS dispatchers over age 30 to opt out of the 25-Year Retirement Plan.

New York S08121 amends the retirement and social security law to allow certain NYCERS dispatchers who were over age 30 when they joined the 25-Year Retirement Plan to opt out. Members who missed the initial 180-day window to opt out now have another 180-day period to do so. Those who opt out are generally placed into either the Tier 4 or Tier 6 underlying plans. The bill also requires the retirement system to post and announce the form and instructions for opting out on its website within 30 days of the bill's effective date.

New York S08121 allows certain NYCERS dispatchers over age 30 to opt out of the 25-Year Retirement Plan.

New York S08121 amends the retirement and social security law to allow certain NYCERS dispatchers who were over age 30 when they joined the 25-Year Retirement Plan to opt out. Members who missed the initial 180-day window to opt out now have another 180-day period to do so. Those who opt out are generally placed into either the Tier 4 or Tier 6 underlying plans. The bill also requires the retirement system to post and announce the form and instructions for opting out on its website within 30 days of the bill's effective date.