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NY A10582
Bill
Status
Introduced
6/20/2024
Primary Sponsor
Harry Bronson
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AI Summary
- Authorizes Monroe County to offer Christopher R. Fay, a captain employed by the county, participation in the optional 20-year retirement plan under Article 14-B of the Retirement and Social Security Law
- Allows Mr. Fay, who started employment on August 26, 1991, to retroactively elect coverage under sections 552 and 553 of the Retirement and Social Security Law despite missing the original enrollment deadline through no fault of his own
- Monroe County must file a resolution with the state comptroller within 180 days of enactment certifying that Mr. Fay did not negligently bar himself from participation, and Mr. Fay must file his election within one year of the act's effective date
- Monroe County bears all employer past service costs, estimated at approximately $145,000 as a one-time payment, which may be amortized over five years at $32,300 annually with interest
- Annual contributions from Monroe County are estimated to increase by approximately $12,000 for the fiscal year ending March 31, 2025, with future costs varying based on billing rates and salary changes
Legislative Description
Authorizes the county of Monroe to offer an optional twenty year retirement plan to Christopher R. Fay, a deputy sheriff employed by the county of Monroe.
Last Action
referred to governmental employees
6/20/2024
Committee Referrals
Governmental Employees6/20/2024
Full Bill Text
No bill text available