New York S 9070: Relates to the discontinuance of LIBOR as the benchmark for short-term interest rates

Bill Text

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S09070 Summary:

BILL NOS09070 

&nbsp

SAME ASSAME AS A10198

&nbsp

SPONSORJACKSON

&nbsp

COSPNSRCHAN, COMRIE, HARCKHAM, LIU, MATTERA, PALUMBO, PARKER, RHOADS, ROLISON, SCARCELLA-SPANTON, SKOUFIS

&nbsp

MLTSPNSR

&nbsp

Add §13-633, NYC Ad Cd

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Grants members of the city of New York's police force eligibility for retirement and pension based on previous service as traffic enforcement agents.

Go to top S09070 Actions:

BILL NOS09070 

&nbsp

01/28/2026REFERRED TO CIVIL SERVICE AND PENSIONS

02/10/2026REPORTED AND COMMITTED TO FINANCE

Go to topS09070 Committee&nbspVotes:

Go to topS09070 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS09070 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9070

 IN SENATE

 January 28, 2026
 ___________

 Introduced by Sens. JACKSON, CHAN, COMRIE, HARCKHAM, LIU, MATTERA,
 PALUMBO, PARKER, ROLISON, SCARCELLA-SPANTON, SKOUFIS -- read twice and
 ordered printed, and when printed to be committed to the Committee on
 Civil Service and Pensions

 AN ACT to amend the administrative code of the city of New York, in
 relation to granting members of the city's police force eligibility
 for retirement and pension based on previous service as traffic
 enforcement agents

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The administrative code of the city of New York is amended
 2 by adding a new section 13-633 to read as follows:
 3 § 13-633 Transfer of members of the New York city police department
 4 from traffic enforcement to the police force. a. The time served as a
 5 member of the city's traffic enforcement who has become a member of the
 6 uniformed force of the police department of the city, whether by trans-
 7 fer or as a result of a competitive examination and appointment, and who
 8 is still a member of the uniformed force of the police department of the
 9 city, shall be included and counted as police service as defined in
 10 section 13-214 of this title in determining retirement and pension bene-
 11 fits as provided in this code and the retirement and social security law
 12 if such person becomes a member of a state or city retirement system
 13 available to members of the police department of the city, provided,
 14 however, that no person becoming a member of the uniformed force of the
 15 police department of the city in the manner herein provided, shall be
 16 entitled to participate in the benefits of a state or city retirement
 17 system available to members of the police department of the city, unless
 18 such person shall pay into such fund the total sum that such person
 19 would have been required to pay in order to participate therein had such
 20 person been a member of such force from the time they entered the
 21 service of traffic enforcement. These provisions shall not be subject to
 22 any restriction relative to transfers contained in the civil service law
 23 or in the rules and regulations of the civil service commission of the
 24 state, or any subdivision thereof.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02377-11-6

 S. 9070 2

 1 b. Notwithstanding any other provisions of law, a member of the New
 2 York city police department shall be entitled to buy back and receive
 3 service credit for the period of time such member was previously
 4 employed as a New York city traffic enforcement agent pursuant to subdi-
 5 vision a of this section.
 6 c. The provisions of this section shall apply to members who have been
 7 appointed to the title traffic enforcement agent prior to July first,
 8 two thousand nine.
 9 § 2. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 SUMMARY: This proposed legislation would deem certain prior service
 rendered as a traffic enforcement agent with the New York City Police
 Department, for those hired in such title before July 1, 2009, that was
 purchased or transferred into the New York City Police Pension Fund
 (POLICE), as uniformed service for purposes of determining the eligibil-
 ity and amount of POLICE retirement benefits.

 EXPECTED INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS
 by