Modifies contribution definitions for NYCERS members in the 25-year retirement program, allowing offsets between basic and additional member.

This bill amends the New York City Employees' Retirement System (NYCERS) to change how additional and basic member contributions are defined for certain members under the 25-year retirement program. Specifically, it allows additional member contributions to offset deficits in basic member contributions and vice versa. This change aims to simplify administrative processes and manage contribution accounts more effectively. The bill does not alter member benefits or employer contributions.

Modifies contribution definitions for NYCERS members in the 25-year retirement program, allowing offsets between basic and additional member.

This bill amends the New York City Employees' Retirement System (NYCERS) to change how additional and basic member contributions are defined for certain members under the 25-year retirement program. Specifically, it allows additional member contributions to offset deficits in basic member contributions and vice versa. This change aims to simplify administrative processes and manage contribution accounts more effectively. The bill does not alter member benefits or employer contributions.