Loading chat...

NY A10444

Bill

Status

Introduced

5/24/2024

Primary Sponsor

Marianne Buttenschon

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Authorizes Scott Hoag, a police officer with the city of Rome, to receive full service credit in the special twenty-year retirement plan under section 384-d of the retirement and social security law after failing to timely file an application through no fault of his own.

  • Requires the city of Rome to file a resolution with the state comptroller within six months of the act's effective date certifying that Hoag did not bar himself from participation due to negligence.

  • Allows Hoag to elect coverage under section 384-d by filing a request with the state comptroller within six months of the city's resolution.

  • Makes the city of Rome responsible for all employer past service costs, estimated at approximately $341,000 as a one-time payment, with the option to amortize over ten years at approximately $43,500 annually.

  • Increases the city's annual retirement contributions by approximately $12,000 for fiscal year ending March 31, 2025, with future costs varying based on billing rates and Hoag's salary.

Legislative Description

Authorizes Scott Hoag, a city of Rome police officer, to receive certain credit under section 384-d of the retirement and social security law.

Last Action

referred to governmental employees

5/24/2024

Committee Referrals

Governmental Employees5/24/2024

Full Bill Text

No bill text available