NY S08216

Authorizes police officers Christopher R. Sniffen and Cody N. Whittaker, appointed to the Village of Cobleskill Police Department on July 7, 2014, to receive full service credit under the special twenty-year retirement plan (section 384-d) instead of the twenty-five year plan they were enrolled in.

Requires the Village of Cobleskill to file a resolution with the state comptroller within 180 days of the act's effective date, certifying that these officers were not responsible for their enrollment in the incorrect retirement plan.

Allows the affected officers to elect coverage under section 384-d by filing a request with the state comptroller within one year of the act's effective date, entitling them to all associated rights and benefits.

Requires the Village of Cobleskill to bear all past service costs, with an immediate cost of approximately $20,200 that may be amortized over a ten-year period (approximately $2,670 annually).

Increases the village's annual retirement contributions by approximately $4,400 for fiscal year ending March 31, 2021, with future costs varying based on billing rates and officer salaries.