Loading chat...
NY S06382
Bill
Status
2/2/2012
Primary Sponsor
Kenneth LaValle
Click for details
AI Summary
-
Extends the deadline for the Village of Southampton to elect to offer the optional retirement plan (Section 384-d) to police officer Theodore Raffel, Jr. from December 31, 2011 to December 31, 2012
-
Extends the deadline for Officer Raffel to file his election request with the state comptroller from June 30, 2012 to June 30, 2013
-
Requires the Village of Southampton to pay all past service costs associated with the optional retirement plan over a five-year period rather than as a one-time payment
-
Past service costs are estimated at approximately $185,000, which would be approximately $42,400 annually including interest if amortized over five years
-
Takes effect immediately upon enactment
Legislative Description
Relates to authorizing the village of Southampton, in the county of Suffolk, to offer certain retirement options to police officer Theodore Raffel, Jr.; specifies the time frame under which the village of Southampton shall pay the costs for implementing such retirement option.
Last Action
SUBSTITUTED BY A9182
6/21/2012