The Delegate Assembly actually was not a total waste of time as it was announced that an early retirement bill has been introduced in the State Senate by Brooklyn Senator Andrew Gounardes that has a letter of support from NYC.
Here are the parts of the summary of Senate Bill S9041 that I think most of you would be interested in:
A member is eligible to participate in Part A of the ERI Program if he or she:
* Is otherwise eligible for service retirement;
* Is at least age 50 with 10 or more years of service and is not in a plan which permits retirement at half-pay with 25 or fewer years of service without regard to age
MPACT ON BENEFITS: Part A would provide one-twelfth of a year of additional retirement service credit for each year of pension service, up to a maximum of three years of additional retirement service credit.
Part B would allow members to retire with an unreduced benefit if they are at least age 55 with 25 or more years of service.
I welcome someone who is more versed at these matters than me to simplify it for us.