NY S07707

Authorizes the City of Mechanicville to offer the optional twenty-year retirement plan (Section 384-d of the Retirement and Social Security Law) to police officers Anthony J. Toleman and David M. Altamura, who missed the initial enrollment deadline through no fault of their own.

Requires the City of Mechanicville to file a resolution with the state comptroller by December 31, 2012, certifying that the officers did not negligently bar themselves from participation.

Allows the two officers to elect coverage under Section 384-d by filing a request with the state comptroller by June 30, 2013, and grants them full rights and benefits associated with the plan.

The City of Mechanicville must bear all employer costs, including an estimated one-time past service cost of approximately $61,000 and approximately $4,500 in annual contributions for fiscal year 2013.

Act takes effect immediately upon enactment.