NY S07399

Authorizes the Village of Lynbrook to offer participation in the optional twenty year retirement plan under Section 384-d of the Retirement and Social Security Law to police officer Ronald J. Fleury, who was first employed by the village police department on April 28, 1994.

Ronald J. Fleury must file a request with the state comptroller on or before December 31, 2018 to elect coverage under Section 384-d and become entitled to associated rights and benefits.

The Village of Lynbrook is responsible for all employer past service costs associated with implementing this act, which may be amortized over a ten year period.

Estimated immediate past service cost is approximately $118,000, with annual contribution increases of approximately $6,400 for fiscal year ending March 31, 2019, with costs varying in future years based on billing rates and salary changes.

Takes effect immediately upon enactment.