Relates to obtaining military credit for members of the New York state and local police and fire retirement system, the New York city police pension fund, and the New York city fire pension fund; provides that the calculation for military credit shall be equal to the product of the number of years of military service being claimed and three percent of such member's compensation earned during the twelve months of credited service.
Summary
A07827 amends the Retirement and Social Security Law to reduce the cost for certain public safety retirement system members to purchase credit for prior military service. Under current law, eligible members who first joined a public retirement system on or after April 1, 2012 generally must pay 6% of their compensation for the 12 months immediately preceding the application date for each year of military service they want credited. This bill creates a lower rate for applications received on or after April 1, 2026 for members of the New York State and Local Police and Fire Retirement System, the New York City Police Pension Fund, and the New York City Fire Pension Fund who first became members on or after April 1, 2012.
For those covered members, the required payment would be reduced to 3% of the member’s compensation for the prior 12 months for each year of military service claimed, up to the existing service-credit framework. The bill takes effect immediately, but the reduced rate applies only to applications received on or after April 1, 2026.
Impact
The bill would directly amend section 1000 of the Retirement and Social Security Law and change the military service buyback formula for specified police and fire retirement systems. Its practical effect is to make military service credit more affordable for eligible Tier 3 police and fire members, while increasing employer pension costs, particularly for New York City, according to the fiscal note. The fiscal analysis estimates higher actuarial liabilities and rising employer contributions over time, though the exact cost depends on how many members apply and their salaries.
Sentiment
The available materials suggest the bill is generally supportive of veterans and public safety employees by lowering the financial barrier to purchasing military service credit. The fiscal note does not express policy opposition, but it highlights that the measure would increase pension costs and actuarial liabilities. No committee transcript or vote record is provided, so there is no documented floor or committee debate to indicate broader political sentiment beyond the bill’s pro-benefit purpose and its fiscal implications.
Contention
The main point of contention is fiscal: reducing the buyback rate from 6% to 3% shifts costs to the pension systems and ultimately to the employer, with the fiscal note projecting increased New York City contributions over time. Supporters are likely to emphasize fairness to veterans and improved retirement credit access for police and fire members, while any critics would focus on the long-term pension cost and added unfunded liability. The bill is narrowly targeted, so there is no indication of broader controversy over eligibility, but the cost of the benefit is the central issue.
Same As
Relates to obtaining military credit for members of the New York state and local police and fire retirement system, the New York city police pension fund, and the New York city fire pension fund; provides that the calculation for military credit shall be equal to the product of the number of years of military service being claimed and three percent of such member's compensation earned during the twelve months of credited service.
Relates to obtaining military credit for members of the New York state and local police and fire retirement system, the New York city police pension fund, and the New York city fire pension fund; provides that the calculation for military credit shall be equal to the product of the number of years of military service being claimed and three percent of such member's compensation earned during the twelve months of credited service.
Exempts certain military service credit from being included in calculations of up to three years of military service credit for a public retirement system of the state.
Exempts certain military service credit from being included in calculations of up to three years of military service credit for a public retirement system of the state.
Removes the twenty-five year requirement for tier three escalation for service retirement of members of the New York city fire department pension fund.
Allows members of the New York city fire department pension fund to obtain service credit for retirement eligibility and retirement allowance from any of the public retirement systems of New York state.
Removes the twenty-five year requirement for tier three escalation for service retirement of members of the New York city fire department pension fund.
Provides that full escalation date means the first day of the month following the date on which a member completes or would have completed twenty-three years of credited service, with respect to service retirement benefits for uniformed members of the New York city fire department pension fund.
Provides that full escalation date means the first day of the month following the date on which a member completes or would have completed twenty-three years of credited service, with respect to service retirement benefits for uniformed members of the New York city fire department pension fund.