Allows MTA police retirement program members to transfer service and assets to the NYC Police Pension Fund.

This bill allows members of the Metropolitan Transportation Authority 20-year Police Retirement Program (MTA PRP) to transfer their service and assets to the New York City Police Pension Fund (NYC PPF). The transfer is subject to a one-year waiting period. The bill also provides for the transfer of assets from the MTA PRP to the NYC PPF. The potential gains or losses to the NYC PPF depend on differences in liability measurements and future investment experience.

Allows MTA police retirement program members to transfer service and assets to the NYC Police Pension Fund.

This bill allows members of the Metropolitan Transportation Authority 20-year Police Retirement Program (MTA PRP) to transfer their service and assets to the New York City Police Pension Fund (NYC PPF). The transfer is subject to a one-year waiting period. The bill also provides for the transfer of assets from the MTA PRP to the NYC PPF. The potential gains or losses to the NYC PPF depend on differences in liability measurements and future investment experience.