Increases benefits payable by the correction officers' variable supplements fund to beneficiaries.

This bill amends the administrative code of the city of New York to increase benefits payable by the correction officers' variable supplements fund to beneficiaries. Specifically, it provides a lump sum benefit to NYCERS correction officers who continue to work beyond their earliest service retirement eligibility date. The benefit consists of the annual variable supplements payments they would have received if they had retired at the later of their earliest service retirement eligibility date or January 1, 2026. The bill does not apply to deaths or disability judgement.

Increases benefits payable by the correction officers' variable supplements fund to beneficiaries.

This bill amends the administrative code of the city of New York to increase benefits payable by the correction officers' variable supplements fund to beneficiaries. Specifically, it provides a lump sum benefit to NYCERS correction officers who continue to work beyond their earliest service retirement eligibility date. The benefit consists of the annual variable supplements payments they would have received if they had retired at the later of their earliest service retirement eligibility date or January 1, 2026. The bill does not apply to deaths or disability judgement.