NY A09468

Allows Sergeant Bethany Kidd of the Seneca Falls Police Department to transfer from the 25-year retirement plan under section 384 to the 20-year retirement plan under section 384-d of the Retirement and Social Security Law.

Requires the Town of Seneca Falls to file a resolution with the state comptroller within 180 days of the act's effective date to assume the additional costs of the service credit transfer.

Permits Officer Kidd to elect coverage under section 384-d within one year of the act's effective date and receive full service credit and benefits associated with that plan.

Establishes that the Town of Seneca Falls bears all past service costs, estimated at approximately $161,000 as a one-time payment, which may be amortized over 10 years at approximately $20,600 annually with interest.

Results in approximately $10,000 in increased annual contributions from the Town of Seneca Falls for fiscal year 2024-2025, with future costs varying based on billing rates and Officer Kidd's salary.