Photo Courtesy of NYC PBA
NYC PBA President Lynch thanked the assemblywoman “for once again standing up for New York City police officers and helping us move closer to equitable benefits with police officers elsewhere in New York State.”
By Forum Staff
Assemblywoman Stacey Pheffer Amato (D-Howard Beach) on Tuesday said she has delivered “an unprecedented win for police by ensuring that members of the NYPD would be able to borrow from their pension.”
Under the current law, certain members of the NYPD were prohibited from borrowing from contributions made to their pension fund. This has been an ongoing topic of concern in the police community, as the ability to take pension loans has long been a significant benefit for public employees who often use these loans to assist them to fund educational expenses, a down payment on a mortgage, or other vital needs. The legislation, which was included in the final State budget, would grant this right to be consistent with the rights available to other public employees throughout the five boroughs and New York State.
File Photo
“For our police officers to not have the right to borrow from their pension, like every other City and State worker, is unacceptable,” Assemblywoman Pheffer Amato.
“This is about equity! For our police officers to not have the right to borrow from their pension, like every other City and State worker, is unacceptable. After tireless months of work I am happy to see this policy change and know that our police and their families will have the option to take a pension loan. The police are there to protect and help us every day, we owe it to them to help them and their families too,” said Pheffer Amato.
“Assemblywoman Pheffer Amato has been in our corner on this issue since Day One. We thank her for once again standing up for New York City police officers and helping us move closer to equitable benefits with police officers elsewhere in New York State. We look forward to continuing to work with her to correct the remaining pension inequities that affect the majority of the Finest,” NYC Police Benevolent Association President Pat Lynch added.
