NY S07526

Authorizes the City of Niagara Falls to offer the optional twenty year retirement plan under Section 384-d of the Retirement and Social Security Law to firefighter Richard E. Mylchreest, Jr., who was previously enrolled in a different retirement plan due to circumstances beyond his control.

Requires the City of Niagara Falls to file a resolution with the state comptroller by December 31, 2012, certifying that the firefighter did not exclude himself from the plan due to negligence.

Allows the firefighter to elect coverage under Section 384-d by filing a request with the state comptroller on or before February 28, 2013, entitling him to full associated rights and benefits.

Requires the City of Niagara Falls to bear all past service costs, including an estimated one-time payment of approximately $102,000 and increased annual contributions of approximately $5,800 for fiscal year 2013.

Takes effect immediately upon enactment.