NY S08060

Authorizes the Port Authority of New York and New Jersey to allow police officers Timothy GaNun and Jason DeVirgilio to participate in the optional retirement plan under section 384-d of the Retirement and Social Security Law, despite previously missing the enrollment deadline through no fault of their own.

Eligible officers may file a request with the state comptroller within one year of the act's effective date to switch from their current coverage under section 375-i to the optional retirement plan and receive all associated benefits.

Port Authority bears all past service costs associated with the change, including a one-time payment of $37,600 (estimated for February 1, 2017) and increased annual contributions of approximately $9,500 for fiscal year 2017, with future costs varying based on billing rates and officer salaries.

Takes effect immediately upon enactment.