New York A08756 prevents the reduction of service retirement benefits for NYC police pension fund members by the primary social security retirement.

New York A08756 amends the Retirement and Social Security Law to ensure that service retirement benefits for members of the New York City police pension fund are not reduced by the primary social security retirement benefit when the member reaches age sixty-two. This change applies to normal service, early service, and vested retirement benefits. The bill also specifies that if a member's vested benefit starts before early retirement age, it will be reduced by one-fifteenth for each year before early retirement age and by one-thirtieth for each additional year prior to early retirement age.

New York A08756 prevents the reduction of service retirement benefits for NYC police pension fund members by the primary social security retirement.

New York A08756 amends the Retirement and Social Security Law to ensure that service retirement benefits for members of the New York City police pension fund are not reduced by the primary social security retirement benefit when the member reaches age sixty-two. This change applies to normal service, early service, and vested retirement benefits. The bill also specifies that if a member's vested benefit starts before early retirement age, it will be reduced by one-fifteenth for each year before early retirement age and by one-thirtieth for each additional year prior to early retirement age.