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NY A10316
Bill
Status
11/11/2020
Primary Sponsor
Barbara Lifton
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AI Summary
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Authorizes the City of Cortland to allow firefighter Travis Marshall 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.
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Requires the City of Cortland to file a resolution with the state comptroller within 12 months of the act's effective date, certifying that Marshall did not bar himself from participation due to his own negligence.
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Allows Marshall to elect coverage under Section 384-d by filing a request with the state comptroller within 6 months of the city's filing.
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City of Cortland must bear all past costs associated with implementation, with the option to amortize over a ten-year period; estimated immediate past service cost is $13,600 and annual contributions increase approximately $2,600 for fiscal year 2021.
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Act takes effect immediately upon enactment.
Legislative Description
Authorizes the city of Cortland to offer an optional twenty year retirement plan to firefighter Travis Marshall, who, for reasons not ascribable to his own negligence, failed to make a timely application to participate in such plan previously established by the retirement and social security law.
Last Action
signed chap.264
11/11/2020