NY S07086

Authorizes the village of Alfred to allow police officer Ryan McKee to participate in the optional twenty year retirement plan under section 384-d of the Retirement and Social Security Law, despite missing the original application deadline through no fault of his own.

Requires the village of Alfred to file a resolution with the state comptroller by December 31, 2014, certifying that the officer's failure to apply timely was not due to his own negligence.

Allows Officer McKee to file a request with the state comptroller by June 30, 2015, to be covered under the optional twenty year retirement plan and receive all associated benefits.

Makes all employer past service costs the responsibility of the village of Alfred, with the option to amortize costs over a ten year period.

Fiscal impact includes approximately $4,300 in increased annual contributions for fiscal year ending March 31, 2015, plus a one-time past service cost of approximately $3,670 (or approximately $500 annually if amortized over ten years).