Pheffer Amato Secures Equity for NYPD in State Budget!

South Queens, NY Assemblywoman Stacey Pheffer Amato (D-South Queens) has been receiving phone calls and gratitude from members of the NYPD for securing legislation which would provide equity to members of the NYPD in the New York State budget. Pheffer Amato delivered an unprecedented win for police by ensuring that members of the NYPD would be able to borrow from their pension.

Under the 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, A.6044, which was included in the final State budget would grant this important right to be consistent with the rights available to other public employees throughout New York City and New York State.

“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 Assemblywoman Pheffer Amato.

NYC PBA leadership, the union that represents the NYPD personally thanked the Assemblywoman. “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,” said PBA President Pat Lynch.