Increases the amount of years of military service credit a member may purchase from three years to four years.

This bill increases the amount of years of military service credit a member may purchase from three years to four years. Members must have at least five years of credited service (not including military service). For each year of additional service credit granted by this bill, Tier 1-5 members would be required to pay 3% member contributions and Tier 6 would pay 6% member contributions. The provisions of section 25 of the retirement and social security law shall not apply. The act shall take effect immediately.

Increases the amount of years of military service credit a member may purchase from three years to four years.

This bill increases the amount of years of military service credit a member may purchase from three years to four years. Members must have at least five years of credited service (not including military service). For each year of additional service credit granted by this bill, Tier 1-5 members would be required to pay 3% member contributions and Tier 6 would pay 6% member contributions. The provisions of section 25 of the retirement and social security law shall not apply. The act shall take effect immediately.