Grants members of the city of New York's police force eligibility for retirement and pension based on previous service as traffic enforcement agents
What changed between versions
Added a new eligibility criterion limiting the buyback service credit to members appointed as traffic enforcement agents before July 1, 2009.
Revised fiscal projections showing a shift from an employer cost increase to a decrease, with projected employer contributions changing from $11.3 million in 2026 to a $8.6 million decrease.
Reduced the unfunded accrued liability from $84.5 million to $38.2 million and shortened the amortization period from 12 payments to 5 payments.
Updated actuarial present value figures, reducing the total present value of benefits from $64.0 million to $14.6 million.
Added additional sponsors (Comrie, Palumbo, Parker, Scarcella-Spanton) and included a favorable committee report from the Committee on Civil Service and Pensions.