NY S08742

Authorizes the Village of Malverne in Nassau County to allow police officer Thomas Smith to participate in the optional twenty-year retirement plan under Section 384-d of the Retirement and Social Security Law, which he previously missed due to reasons not attributable to his own negligence.

Requires the Village of Malverne to file a resolution with the state comptroller within 12 months of the act's effective date, certifying that Smith did not exclude himself from the plan through his own negligence.

Permits Smith to elect coverage under Section 384-d within 6 months of the village's filing and grants him full rights and benefits associated with the plan.

Mandates the Village of Malverne bear all past costs of implementing the act, which may be amortized over 10 years; estimated past service cost is approximately $101,000 with an estimated annual contribution increase of approximately $13,000 for fiscal year 2021.

Act takes effect immediately upon enactment.