Permits New York city correction and sanitation members to borrow from accumulated contributions; repealer

This bill allows New York City correction and sanitation workers who are members of specific retirement systems to borrow against their accumulated retirement savings. It permits members with at least three years of continuous service to borrow up to 75% of their total contributions (plus interest), with interest set 2% higher than regular retirement rates. Repayments occur through payroll deductions, requiring at least 5% of the member's earnings per paycheck. The bill repeals previous restrictions that excluded these workers from borrowing under similar retirement plan rules.