New York A03972 modifies eligibility for ordinary disability benefits for New York City police pension fund Tier III plans.

New York A03972 amends the eligibility criteria for ordinary disability benefits and re-employment of disability retirees in the New York City police pension fund Tier III plans. The bill removes the requirement for at least five years of credited service and eligibility for primary Social Security disability benefits. Instead, it introduces a new benefit calculation based on the greater of 1/3 of the applicable Final Average Salary (FAS) or 2% of the applicable FAS multiplied by credited service.

New York A03972 modifies eligibility for ordinary disability benefits for New York City police pension fund Tier III plans.

New York A03972 amends the eligibility criteria for ordinary disability benefits and re-employment of disability retirees in the New York City police pension fund Tier III plans. The bill removes the requirement for at least five years of credited service and eligibility for primary Social Security disability benefits. Instead, it introduces a new benefit calculation based on the greater of 1/3 of the applicable Final Average Salary (FAS) or 2% of the applicable FAS multiplied by credited service.