NY A08076

Authorizes the village of Lyons to offer participation in the optional twenty year retirement plan (established under section 384-d of the Retirement and Social Security Law) to police officers John Flock and Scott VanDuyne, who missed the deadline through no fault of their own.

Requires the village of Lyons to file a resolution with the state comptroller by December 31, 2010, certifying that the officers did not bar themselves from participation due to negligence.

Allows the two police officers to elect coverage under section 384-d by filing a request with the state comptroller on or before June 30, 2011, and grants them full rights and benefits associated with that coverage.

Requires the village of Lyons to bear all employer costs associated with the plan, with past service costs allowed to be amortized over either five or ten years.

Estimated annual cost increase of approximately $2,800 for fiscal year 2011, plus an immediate past service cost of approximately $43,000 (or $9,980-$5,940 annually if amortized).