NY S07286

Authorizes the City of Rensselaer to allow firefighters William Schumaker (hired October 10, 1996) and Mark Hennessy (hired September 1, 2005) to participate in the optional twenty-year retirement plan under section 384-d of the retirement and social security law.

Requires the City of Rensselaer to file a resolution with the state comptroller within six months of the act's effective date, certifying that each firefighter's failure to timely apply was not due to their own negligence.

Allows the affected firefighters to elect coverage under sections 384-d and 384-e of the retirement and social security law and receive full associated rights and benefits by filing a request with the state comptroller.

Requires the City of Rensselaer to bear all past costs, which may be amortized over five years; fiscal note estimates a one-time past service cost of approximately $309,000 and annual contribution increases of approximately $19,000.

Takes effect immediately upon enactment.