Relates to death benefits for members of the uniformed force of the New York city department of sanitation and members of the uniformed force of the New York city department of correction; establishes that the beneficiaries of a member who would have been entitled to a service retirement benefit at the time of his or her death may elect to receive, in a lump sum, an amount payable which shall be equal to the pension reserve that would have been established had the member retired on the date of his or her death, or the value of the death benefit and the reserve-for-increased-take-home-pay, if any, whichever is greater.
Relates to death benefits for members of the uniformed force of the New York city department of sanitation and members of the uniformed force of the New York city department of correction; establishes that the beneficiaries of a member who would have been entitled to a service retirement benefit at the time of his or her death may elect to receive, in a lump sum, an amount payable which shall be equal to the pension reserve that would have been established had the member retired on the date of his or her death, or the value of the death benefit and the reserve-for-increased-take-home-pay, if any, whichever is greater.
Allows a beneficiary of a member whose death occurs on or after July 1, 2023 and who would have been entitled to a service credit at the time of such member's death to elect to receive a lump sum payment equal to the pension reserve that would have been established had the member retired on the date of such member's death.
Allows a beneficiary of a member whose death occurs on or after July 1, 2023 and who would have been entitled to a service credit at the time of such member's death to elect to receive a lump sum payment equal to the pension reserve that would have been established had the member retired on the date of such member's death.
Allows a beneficiary of a member whose death occurs on or after July 1, 2024 and who would have been entitled to a service credit at the time of such member's death to elect to receive a lump sum payment equal to the pension reserve that would have been established had the member retired on the date of such member's death.
Allows a beneficiary of a member whose death occurs on or after July 1, 2024 and who would have been entitled to a service credit at the time of such member's death to elect to receive a lump sum payment equal to the pension reserve that would have been established had the member retired on the date of such member's death.
Relates to service retirement benefits for certain members of the New York city employees' retirement system; provides that for New York city uniformed correction/sanitation revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.
Relates to service retirement benefits for certain members of the New York city employees' retirement system; provides that for New York city uniformed correction/sanitation revised plan members of the New York city employees' retirement system, the service retirement benefit shall not be reduced by the primary social security retirement benefit commencing at age sixty-two.
Provides that the normal service retirement benefit for police/fire members who are members of the New York city fire department pension fund shall be paid to such members of the New York city fire department pension fund without regard to age upon retirement after twenty years of service.
Provides that the normal service retirement benefit for police/fire members who are members of the New York city fire department pension fund shall be paid to such members of the New York city fire department pension fund without regard to age upon retirement after twenty years of service.