New York City correction officers and sanitation workers within the Tier 3 retirement plan will now be able to retire with full pension benefits after 20 years of service, achieving long-sought parity with police officers and firefighters under a provision included in the recently passed state budget.
The change institutes what unions have described as a “20-and-out” retirement system for thousands of workers hired after 2012, allowing them to collect full pension benefits two years earlier than under the current structure.
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