NY A10622

Grants Duane A. Palma, a deputy sheriff employed by Monroe County Sheriff's Office, full retirement service credit under the optional 20-year retirement plan for his work as a correction officer beginning February 22, 1999.

Allows Palma to elect coverage under the 20-year plan (sections 552 and 553 of the Retirement and Social Security Law) retroactively to February 22, 1999, provided he files an election within 18 months of the act's effective date.

Requires Monroe County to elect to assume all additional costs associated with the service credit within one year of the act's effective date by filing a resolution with the state comptroller.

Imposes a one-time past service cost of approximately $177,000 on Monroe County, which may be amortized over five years at $39,600 annually with interest, with no impact on the county's future annual retirement contributions.

Takes effect immediately upon enactment.