S 10408 NY
Establishes a twenty year retirement option for certain deputy sheriffs employed by the city of New York
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Summary
This bill establishes a twenty-year retirement option for certain deputy sheriffs employed by the city of New York, in addition to the existing twenty-five-year retirement option. Deputy sheriffs may retire after twenty years of credited service with a retirement allowance equal to forty percent of their final average salary, plus an additional three percent for each year of service beyond twenty years but less than twenty-five years. For those with twenty-five or more years of service, the benefit is fifty-five percent of final average salary plus one and seven-tenths percent for each additional year beyond twenty-five years. Participants must make additional member contributions and interest payments while employed as deputy sheriffs. Elections to participate must be filed within one hundred eighty days; those who previously missed the election window may elect to participate within one hundred eighty days of this act's effective date. The election form must be made available on the New York City Employees' Retirement System website within thirty days of enactment.
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Official abstract
Establishes a twenty year retirement option for certain deputy sheriffs employed by the city of New York.
Sponsor (1)
- Robert Jackson Democratic · primary
Action history (1)
- May 15, 2026 REFERRED TO CIVIL SERVICE AND PENSIONS · upper
Text versions (2)
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Bill No.: Summary Actions Committee Votes Floor Votes Memo Text LFIN Chamber Video/Transcript S10408 Summary: BILL NO S10408   SAME AS No Same As   SPONSOR JACKSON   COSPNSR   MLTSPNSR   Amd §§445-f & 604-f, R & SS L   Establishes a twenty year retirement option for certain deputy sheriffs employed by the city of New York.
Go to top S10408 Text:
STATE OF NEW YORK ________________________________________________________________________
10408
IN SENATE
May 15, 2026 ___________
Introduced by Sen. JACKSON -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions
AN ACT to amend the retirement and social security law, in relation to establishing a twenty year retirement option for certain deputy sher- iffs employed by the city of New York
The People of the State of New York, represented in Senate and Assem- bly, do enact as follows:
1 Section 1. Paragraph 8 of subdivision a of section 445-f of the 2 retirement and social security law, as added by chapter 559 of the laws 3 of 2001, is amended to read as follows: 4 8. "Optional retirement provisions" shall mean the right to retire and 5 receive a retirement allowance under this section upon the completion of 6 twenty or twenty-five years of credited service. 7 § 2. Subdivision b of section 445-f of the retirement and social secu- 8 rity law, as added by chapter 559 of the laws of 2001, is amended to 9 read as follows: 10 b. Election of twenty-five year improved benefit retirement program. 11 1. Subject to the provisions of paragraphs five and six of this subdi- 12 vision, any person who is a deputy sheriff member on the starting date 13 of the twenty-five year improved benefit retirement program may elect to 14 become a participant in the twenty-five year improved benefit retirement 15 program by filing, within one hundred eighty days after such starting 16 date, a duly executed application for such participation with the 17 retirement system, provided [ he or she ] such person is such a deputy 18 sheriff member on the date such application is filed. 19 2. Subject to the provisions of paragraphs five and six of this subdi- 20 vision, any person who becomes a deputy sheriff member after the start- 21 ing date of the twenty-five year improved benefit retirement program may 22 elect to become a participant in the twenty-five year improved benefit 23 retirement program by filing, within one hundred eighty days after 24 becoming such a deputy sheriff member, a duly executed application for 25 such participation with the retirement system, provided [ he or she ] such 26 person is such a deputy sheriff member on the date such application is 27 filed.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15752-01-6
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1 2-a. Subject to the provisions of paragraphs five and six of this 2 subdivision, any member who was eligible to elect to become a partic- 3 ipant in the twenty-five year improved benefit retirement program and 4 did not make such election may elect to participate in the twenty-five 5 year improved benefit program by filing, within one hundred eighty days 6 following the effective date of this paragraph, a duly executed applica- 7 tion for such participation with the retirement system, provided such 8 member is a deputy sheriff member on the date such application is filed. 9 3. Any election to be a participant in the twenty-five year improved 10 benefit retirement program shall be irrevocable. 11 4. Where any participant in the twenty-five year improved benefit 12 retirement program shall cease to hold a position as a deputy sheriff 13 member, [ he or she ] such person shall cease to be such a participant 14 and, during any period in which such a person does not hold such a depu- 15 ty sheriff position, [ he or she ] such person shall not be a participant 16 in the twenty-five year improved benefit retirement program and shall 17 not be eligible for the benefits of subdivision c of this section. 18 5. Where any participant in the twenty-five year improved benefit 19 retirement program terminates service as a deputy sheriff member and 20 returns to such service as a deputy sheriff member at a later date, [ he 21 or she ] such person shall again become such a participant on that date. 22 6. Notwithstanding any other provision of law to the contrary, any 23 person who is eligible to become a participant in the twenty-five year 24 improved benefit retirement program pursuant to paragraph one [ or ] , two 25 or two-a of this subdivision for the full one hundred eighty day period 26 provided for in such applicable paragraph and who fails to timely file a 27 duly executed application for such participation with the retirement 28 system, shall not thereafter be eligible to become a participant in such 29 program. 30 § 3. Subdivision c of section 445-f of the retirement and social secu- 31 rity law, as added by chapter 559 of the laws of 2001, is amended to 32 read as follows: 33 c. Service retirement benefits. Notwithstanding any other provision of 34 law to the contrary, where a participant in the twenty-five year 35 improved benefit retirement program, who is otherwise qualified for a 36 retirement allowance pursuant to the optional retirement provisions set 37 forth in subdivision a of this section, has made and/or paid, while [ he 38 or she ] such participant is a deputy sheriff member, all additional 39 member contributions and interest (if any) required by subdivision d of 40 this section, then: 41 1. that participant, while [ he or she ] such participant remains a 42 participant, shall not be subject to the provisions of subdivision a of 43 section four hundred forty-five of this article; and 44 2. if that participant, while such a participant, retires for service, 45 [ he or she ] such participant shall not be subject to the provisions of 46 section four hundred forty-four of this article; and 47 3. [ his or her ] such participant's retirement allowance shall be an 48 amount, on account of the required minimum period of service, equal to 49 the sum of (i) an annuity which shall be the actuarial equivalent of the 50 accumulated deductions from [ his or her ] such participant's pay during 51 such period, (ii) a pension for increased-take-home-pay which shall be 52 the actuarial equivalent of the reserve for increased-take-home-pay to 53 which [ he or she ] such participant may be entitled for such period, and 54 (iii) a pension which, when added to such annuity and such pension for 55 increased-take-home-pay, produces a retirement allowance equal to , for 56 twenty years of service, forty percent of such participant's final aver-
S. 10408 3
1 age salary, plus an amount for each additional year of allowable 2 service, or fraction thereof, beyond twenty years but less than twenty- 3 five years of allowable service, equal to three percent of such partic- 4 ipant's final average salary, and for twenty-five years of allowable 5 service, fifty-five percent of [ his or her ] such participant's final 6 average salary, plus an amount for each additional year of allowable 7 service, or fraction thereof, beyond [ such required minimum period ] 8 twenty-five years of service equal to one and seven-tenths percent of 9 [ his or her ] such participant's final average salary; and 10 4. the maximum retirement benefit computed without optional modifica- 11 tion payable to that participant upon [ his or her ] such participant's 12 retirement for service as such a participant shall equal that payable 13 upon completion of thirty years of service. 14 § 4. Subdivision c of section 604-f of the retirement and social secu- 15 rity law, as added by chapter 559 of the laws of 2001, is amended to 16 read as follows: 17 c. Service retirement benefits. 1. A participant in the twenty-five 18 year retirement program: 19 (i) who has completed twenty or twenty-five or more years of credited 20 service; and 21 (ii) who has paid, before the effective date of retirement, all addi- 22 tional member contributions and interest (if any) required by subdivi- 23 sion e of this section; and 24 (iii) who files with the retirement system of which [ he or she ] such 25 participant is a member an application for service retirement setting 26 forth at what time, not less than thirty days subsequent to the 27 execution and filing thereof, [ he or she ] such participant desires to be 28 retired; and 29 (iv) who shall be a participant in the twenty-five year retirement 30 program at the time so specified for [ his or her ] such participant's 31 retirement; shall be retired pursuant to the provisions of this section 32 affording early service retirement. 33 2. (i) Notwithstanding any other provision of law to the contrary, and 34 subject to the provisions of paragraph six of subdivision e of this 35 section, the early service retirement benefit for participants in the 36 twenty-five year retirement program who retire pursuant to paragraph one 37 of this subdivision upon the completion of twenty years of service shall 38 be a retirement allowance consisting of: 39 (A) an amount, on account of the required minimum period of service, 40 equal to [ fifty-five ] forty percent of [ his or her ] such participant's 41 final average salary; plus 42 (B) an amount on account of credited service, or fraction thereof, 43 beyond [ such required minimum period ] twenty years, but no more than 44 twenty-five years of service equal to [ one and seven-tenths ] three 45 percent of [ his or her ] such participant's final salary; 46 (ii) Notwithstanding any other provision of law to the contrary, and 47 subject to the provisions of paragraph six of subdivision e of this 48 section, the early service retirement benefit for participants in the 49 twenty-five year retirement program who retire pursuant to paragraph one 50 of this subdivision upon the completion of twenty-five years of service 51 shall be a retirement allowance consisting of: 52 (A) an amount, on account of the required minimum period of service, 53 equal to fifty-five percent of such participant's final average salary; 54 plus
S. 10408 4
1 (B) an amount on account of credited service, or fraction thereof, 2 beyond such twenty-five year period of service equal to one and seven- 3 tenths percent of such participant's final salary; 4 (iii) The maximum retirement allowance computed without optional 5 modification payable pursuant to subparagraph (i) of this paragraph 6 shall equal that payable upon completion of thirty years of service. 7 § 5. Subparagraph (ii) of paragraph 1 of subdivision d of section 8 604-f of the retirement and social security law, as amended by section 9 9 of part TT of chapter 56 of the laws of 2022, is amended to read as 10 follows: 11 (ii) who prior to such discontinuance, completed five but less than 12 [ twenty-five ] twenty years of credited service; and 13 § 6. The New York city employees' retirement system shall make the 14 form for members to make an election pursuant to section 445-f of the 15 retirement and social security law available on its website no later 16 than 30 days following the effective date of this act. 17 § 7. Notwithstanding any other provision of law to the contrary, none 18 of the provisions of this act shall be subject to the appropriation 19 requirement of section 25 of the retirement and social security law. 20 § 8. This act shall take effect immediately.
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