New York S05058 amends pension benefits for certain New York City Fire Department members.

New York S05058 amends the administrative code and retirement and social security law to provide certain members of the New York City Fire Department pension fund with increased pension benefits for each year of additional service beyond their required minimum service. For Tier 2 members, the annual pension increases from 1/60th to 1/40th of average annual earnings from the date of eligibility for retirement to the actual date of retirement. For Tier 3 members, the annual pension increases by 1/40th of "final salary" for each year of service beyond 20 years of service.

New York S05058 amends pension benefits for certain New York City Fire Department members.

New York S05058 amends the administrative code and retirement and social security law to provide certain members of the New York City Fire Department pension fund with increased pension benefits for each year of additional service beyond their required minimum service. For Tier 2 members, the annual pension increases from 1/60th to 1/40th of average annual earnings from the date of eligibility for retirement to the actual date of retirement. For Tier 3 members, the annual pension increases by 1/40th of "final salary" for each year of service beyond 20 years of service.