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NY A10444
Bill
Status
5/24/2024
Primary Sponsor
Marianne Buttenschon
Click for details
AI Summary
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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.
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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.
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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.
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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.
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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