cops and firefighters are REQUIRED to wear it....
so it couldn't HURT your chances to wear it on a bike. I'm a FF and we have to wear high viz gear (ie. vests) while on/near the road (working at an accident scene etc.); this is a Federal requirement based on research, etc. Here it is if you care: https://www.safetyequipment.org/c/std107-2010.cfm
A clear conscience is usually the sign of a bad memory.