Authorizes active members of the New York state and local police and fire retirement system to purchase service credit for service with the Long Island Railroad Company police department.
Impact
If enacted, A08231 would significantly alter the landscape for police officers who previously worked for the Long Island Railroad police by enabling these individuals to enhance their retirement benefits through the purchase of service credit. Moreover, the estimated costs associated with this provision will be borne by the state of New York, specifically calculated at approximately 22% of the compensation for each year of purchased credit. This financial obligation may lead to additional considerations related to the state's budget and overall fiscal responsibilities.
Summary
Bill A08231 authorizes active members of the New York State and Local Police and Fire Retirement System to purchase service credit for their prior service as police officers within the Long Island Railroad Company Police Department. This bill aims to address a gap in the retirement benefits available to these individuals, allowing them to receive credit for up to three years of service provided they meet specific eligibility requirements. To qualify, members must have a minimum of five years of credited service excluding the service to be purchased and are required to file a written request and pay a fee based on their compensation for the relevant service period.
Contention
Some points of contention surrounding A08231 may include discussions regarding how this financial responsibility will impact the state budget and the implications of allowing service credit purchases for previously unaccounted service. Critics may question the fairness and sustainability of such provisions, especially in times of fiscal uncertainty. Additionally, there could be debates on whether more extensive adjustments should be made to the retirement system for various other groups of law enforcement personnel across the state, raising questions about equity and access to benefits.
Notable_points
A08231 retroactively impacts former police officers from the Long Island Railroad, emphasizing the need to recognize varied law enforcement experiences within retirement systems. There may also be discussions relating to the administrative process involved in managing these changes and the potential increased responsibilities of the retirement system in verifying and processing service credit applications.
Same As
Authorizes active members of the New York state and local police and fire retirement system to purchase service credit for service with the Long Island Railroad Company police department.
Authorizes active members of the New York state and local police and fire retirement system to purchase service credit for service with the Long Island Railroad Company police department.
Authorizes Michael J. Cappiello to purchase service credit for service with the Long Island Railroad Company police department prior to its merger with the MTA and the state retirement system.
Authorizes Michael J. Cappiello to purchase service credit for service with the Long Island Railroad Company police department prior to its merger with the MTA and the state retirement system.
Authorizes the transfer of memberships for certain members of the New York state and local police and fire retirement system who previously held a membership with the New York state and local employees' retirement system back to such retirement system.
Authorizes the transfer of memberships for certain members of the New York state and local police and fire retirement system who previously held a membership with the New York state and local employees' retirement system back to such retirement system.
Relates to the calculation of past service credit for members in the title of deputy sheriff who provided police protection or correction officer service transferring between the New York state and local employees' retirement system to the New York state and local police and fire retirement system.
Relates to the calculation of past service credit for members in the title of deputy sheriff who provided police protection or correction officer service transferring between the New York state and local employees' retirement system to the New York state and local police and fire retirement system.
Authorizes a member to obtain up to three years of service credit for prior paid police service within the United States with an accredited police agency outside of the state of New York; requires a member to have at least five years of credited service to be eligible to receive such credit.