New York S07114 modifies military credit calculation for police and fire retirement systems.
New York S0714 amends the retirement and social security law to change how military credit is calculated 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, members who first join these systems will pay 3% of their compensation for each year of military service claimed, down from the current 6%. This change applies to applications received on or after April 1, 2027.
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