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

This bill allows New York City correction and sanitation workers to borrow from their retirement savings. Specifically, it amends city retirement rules to permit these members (who were previously excluded) to borrow up to 75% of their accumulated retirement contributions, with interest. Borrowers must have at least three years of continuous service and repay the loan through payroll deductions over time. The bill removes prior restrictions that prevented these workers from accessing this borrowing option available to other city employees. It directly affects NYC correction and sanitation workers enrolled in specific retirement systems.