Provides that New York city correction officers may file for disability without ten years of service
What changed between versions
Expected increase in employer contributions timeline shifted from fiscal year 2026 to 2027, with updated annual contribution amounts through 2051
Actuarial present value of benefits increased from $0.7 million to $0.9 million based on updated valuation date
Unfunded accrued liability decreased from $11.3 million to $9.7 million with corresponding reduction in amortization payments
Census data updated from June 30, 2024 to June 30, 2025, showing active member count decreased from 1,976 to 1,816
Average age of impacted members increased from 38.3 to 39.0 years, and average salary slightly decreased from $118,400 to $118,200
Normal cost percentage for new entrants adjusted from 0.19% to 0.20% for fiscal year 2052 and beyond
Bill status updated to reflect committee discharge and amendment process