NY S07056

Directs the New York state and local police and fire retirement system to pay Theodore Raffel's beneficiary all contributions made on his behalf by the village of Southampton, less any amounts previously paid, with interest compounded annually from June 1, 1986 to May 31, 2016

Officer Raffel served the village of Southampton as a police officer from 1966 until his death on June 1, 1986 (approximately 19 years, 364 days, and 15.5 hours)

Approximately $118,000 in contributions had been paid into the retirement system on Raffel's behalf, which exceeded the death benefit originally paid to his widow

Interest shall be calculated using the rate established under subdivision c of section 1202 of the retirement and social security law

The act takes effect immediately upon enactment