NY A05075

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 sections 384-d and 384-e of the Retirement and Social Security Law, despite missing the initial application deadline through no fault of their own.

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 apply was not due to their own negligence.

Allows each firefighter to elect coverage under the twenty-year retirement plan by filing a request with the state comptroller, with full rights and benefits retroactively available.

City of Rensselaer must bear all past service costs, estimated at approximately $355,000 as a one-time payment, which may be amortized over five years at an annual cost of $79,300 plus interest; future annual contributions estimated at $23,000 and subject to change based on billing rates and salaries.

Act takes effect immediately upon enactment.