Chapter 106 - New York State Patriot Plan
The Patriot Plan allows NYCERS to suspend a member’s obligation to repay any loan while the member is absent on Military Status. The maximum rate of interest NYCERS can charge its members on Military Status is 6% per year.
Chapter 139 - Increase in Special Accidental Death Amounts
This law increases the special accidental death benefit for deaths that occurred in 2003 or earlier for Correction Officers, Housing and Transit Police and certain EMTs. The increases vary depending on the calendar year of death.
Chapter 516 - ¾ Accidental Disability Retirement for Deputy Sheriffs
This law provides an accidental disability retirement benefit equal to ¾ Final Average Compensation for certain members employed as Deputy Sheriffs. This law applies to Tier 4 members who have been retired for disability on or after September 17, 2003.
Chapter 640 - Urban Park Rangers Added to Special Officers 25 Year/No Age Plan
This law adds 2 new titles, Urban Park Rangers and Associate Urban Park Rangers, to the Special Officers 25 Year /No Age Retirement Plan. Tier 1, 2 and 4 members of NYCERS employed in these two titles as of October 7, 2003 may file an application for entry into this plan by April 5, 2004. Tier 2 and Tier 4 members who become employed in these 2 titles after October 7, 2003, may file an application within 180 days after becoming employed in such title. Any Tier 4 member who becomes covered by Tier 4 on or after October 7, 2003, and is employed in one of these 2 titles, shall become a Participant in this Special Officers Plan on the date he/she becomes a member. However, such a mandated Tier 4 member who has exceeded age 30 upon employment in a covered title is exempt from participation in this Plan if he/she elects not to participate by filing a form with NYCERS within 180 days of becoming a Tier 4 member.
Chapter 681 – Automotive Workers
This extended the provisions of the 25 Year/Age 50 Automotive Service Workers Retirement Program to members employed in automotive positions to members in the following titles: Senior Stationary Engineer, Station Engineer, Auto Mechanic (Diesel), Auto Electrician, Auto Machinist, Machinist, or Machinist Helper. This bill amended Chapter Law 414 of the Laws of 2002 by adding these new titles.
Chapter 682 - Police Communications Position/ 25 Year Plan
This law established a 25-Year Retirement Plan for Tier 2 and 4 members employed by the NYC Police Department as a Police Communications Technician, a Supervising Police Communications Technician or a Principal Police Communications Technician. There is no age requirement in this bill.
Note: that there is a 180-day filing period for NYCERS members in covered titles who want to opt into the plan.
Chapter 693 - TBTA Deficit Payment Plan in 50/20 Plan
This law lengthened the period of time Triborough Bridge & Tunnel Authority members can pay off deficits incurred pursuant to the provisions of the 20 Year/Age 50 Retirement Program and clarifies the definition of what constitutes pensionable compensation. The deferment date for full payment for members who have incurred contribution deficiencies was extended to 2011 from 2007.