New York police pensions: Governor Kathy Hochul rejects plans to provide officers with retirement funds after 20 years [Video]

NEW YORK (WABC) — For the fourth straight year, New York has rejected a pension bill that would have impacted at least one thousand specialized police officers in the state.

Governor Kathy Hochul made the decision to reject the plan Friday and said the legislation would have cost the state too much money.

Proposed in the bill, state forest rangers, park police officers and university police officers would be allowed to retired with an annual pension worth half of their salary. However, the caveat is that officers would have to be on the job for at least 20 years.

The current plan requires officers to be on the job for at least 25 years.