Grants retroactive Tier IV membership in the New York City Teachers' Retirement System to certain Yonkers Parks Department employees from 2009 to.

This bill grants retroactive Tier IV membership in the New York City Teachers' Retirement System to certain employees who were employed by the Yonkers Parks Department between 2009 and 2014. This change would allow them to purchase service credit for their employment with Yonkers Parks Department and elect retroactive membership in Tier 4. A change from Tier 6 to Tier 4 would result in earlier retirement eligibility, lower overall employee contribution rates, and a larger pension benefit. The city of New York would bear all past service costs associated with this change.

Grants retroactive Tier IV membership in the New York City Teachers' Retirement System to certain Yonkers Parks Department employees from 2009 to.

This bill grants retroactive Tier IV membership in the New York City Teachers' Retirement System to certain employees who were employed by the Yonkers Parks Department between 2009 and 2014. This change would allow them to purchase service credit for their employment with Yonkers Parks Department and elect retroactive membership in Tier 4. A change from Tier 6 to Tier 4 would result in earlier retirement eligibility, lower overall employee contribution rates, and a larger pension benefit. The city of New York would bear all past service costs associated with this change.