New York A07827 reduces the payment for military service credit for certain retirement system members.

New York A07827 amends the retirement and social security law to change the calculation for military service credit for members of the New York state and local police and fire retirement system, the New York city police pension fund, and the New York city fire pension fund. Effective April 1, 2027, the required payment for each year of military service credited will be reduced from six percent to three percent of the member's compensation earned during the twelve months immediately preceding the application date.

New York A07827 reduces the payment for military service credit for certain retirement system members.

New York A07827 amends the retirement and social security law to change the calculation for military service credit for members of the New York state and local police and fire retirement system, the New York city police pension fund, and the New York city fire pension fund. Effective April 1, 2027, the required payment for each year of military service credited will be reduced from six percent to three percent of the member's compensation earned during the twelve months immediately preceding the application date.