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
S. 10408 2
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.
