Establishes a 25-year retirement program for NYC water supply police members, with employer pick-up of additional member contributions.
This bill establishes a 25-year retirement program for NYC water supply police members within the NYC Employees' Retirement System. It mandates employer pick-up of additional member contributions for certain participants. Members can elect to join the program within 180 days of becoming a water supply police member. The program provides retirement benefits based on years of service, with additional contributions required from participants. The bill also outlines provisions for borrowing, withdrawal, and interest on additional contributions.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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