PA-SCN-01 · Plan
New York Police & Fire Pension Plan (2024)
ny-policefire-2024 · NY Police & Fire Pension Board · Current version v1
Jurisdiction
- State
- NY
- Agency
- Police & Fire Pension Board
- Versions
- 1
Versions
| Version | Active | Published | Published by |
|---|---|---|---|
| v1 | Jan 1, 2024 → present | Jan 1, 2024, 12:00 PM | demo-seed |
Plan rules
Version v1current
Eligibility
When a member qualifies for retirement.
- Normal retirement age
- 55 years
- Early retirement age
- 50 years
- Rule of X
- age + service ≥ 80
- Minimum service
- 5 years
Vesting
Cliff — fully vested once the threshold is met.
- Type
- Cliff
- Years required
- 5 years
Benefit formula
Monthly benefit = FAC × multiplier × service ÷ 12.
- Final-average compensation
- Highest 3 years
- Multiplier per year
- 2.5%
Cost-of-living adjustment
No COLA applied to benefits.
- Type
- None
Contribution rates
Percentage of pensionable wages contributed each pay period.
- Employee
- 9.5%
- Employer
- 19.5%
- Total
- 29%
Recent events
From the Plan aggregate (slug = aggregateId). System-scoped.
No events recorded for this plan yet.