NY S07716

Allows members of the New York State Police and Fire Retirement System who joined between July 1, 2009 and March 31, 2012 and are not covered by a collective bargaining agreement to elect into the optional twenty-year retirement plan under Section 384-D if their employer has made it available.

Members who elect into this plan are exempt from mandatory employee contributions otherwise required under Article Fourteen and Section 1204 of the Retirement and Social Security Law.

Provides a six-month election window for eligible members starting from when they join the system, when their employer makes the plan available, or from the bill's effective date.

Allows individuals who became members between July 1, 2009 and January 10, 2010 to belatedly join special retirement plans established through collective bargaining agreements, including those whose contracts expired but continue under Civil Service Law Section 209.

Takes effect immediately upon enactment; estimated to increase employer contributions by approximately 4.0% of annual salaries for fiscal year ending March 31, 2015, with additional future costs varying based on member demographics and plan coverage.