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NY S07416
Bill
Status
5/10/2012
Primary Sponsor
Hugh Farley
Click for details
AI Summary
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Authorizes the City of Gloversville to allow firefighters Thomas Mellis and Josh Frye to participate in the optional twenty year retirement plan under Section 384-d of the Retirement and Social Security Law
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Both firefighters must file a request with the state comptroller by December 31, 2012 to elect coverage under the plan
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The City of Gloversville must bear all past service costs associated with the plan, which may be amortized over five years
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Estimated immediate past service cost is approximately $26,800, with annual contribution increases of approximately $8,000 starting fiscal year 2013
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Act takes effect immediately upon enactment
Legislative Description
Authorizes the city of Gloversville to offer an optional twenty year retirement plan to certain firefighters employed by such city.
Last Action
SUBSTITUTED BY A10164
6/21/2012