Plain English Breakdown
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
Relates to the definition of additional member contributions and basic member contributions for certain retirement system members to allow such contributions to be used as offsets
Relates to the definition of additional member contributions and basic member contributions for certain retirement system members to allow such contributions to be used as offsets Modifies the definition of additional member contributions and basic member contributions for certain New York city employees' retirement system members who are subject to the twenty-five year retirement program for fire protection inspector members under Article 15 of the retirement and social security law, to allow such additional member contributions to be used to offset a deficit of basic member contributions, or to allow an excess of basic member contributions to offset a deficit of additional member contributions.
What This Bill Does
- Relates to the definition of additional member contributions and basic member contributions for certain retirement system members to allow such contributions to be used as offsets Modifies the definition of additional member contributions and basic member contributions for certain New York city employees' retirement system members who are subject to the twenty-five year retirement program for fire protection inspector members under Article 15 of the retirement and social security law, to allow such additional member contributions to be used to offset a deficit of basic member contributions, or to allow an excess of basic member contributions to offset a deficit of additional member contributions.
Limits and Unknowns
- This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.