NY A09590

Creates a new optional 25-year service retirement plan for constables employed by the Village of Westhampton Dunes in Suffolk County, as an alternative to existing retirement plans.

Constables must complete 25 years of total creditable service and have at least 10 years of service with the Village of Westhampton Dunes to be eligible for retirement under this plan.

Retirement benefit equals one-half of final average salary, with an additional one-fiftieth of final average salary for each year of service beyond 25 years (maximum 5 additional years, up to 30 years total).

Creditable service includes prior service as a state police officer, firefighter, police officer, correction officer, criminal investigator, or constable with Westhampton Dunes.

Village of Westhampton Dunes bears all past service costs (estimated at $239,000 one-time payment) and future annual contribution increases (estimated at 4.9% of salary annually).