NY S09870

Establishes an optional 25-year retirement plan for Fire Marshal I and supervisors of that title employed by Suffolk County or participating towns and villages in Suffolk County.

Members completing 25 years of creditable service receive a pension equal to one-half of final average salary, with increases of one-sixtieth of final average salary for each additional year of service, capped at three-fourths of final average salary.

Creditable service includes time served as a paid firefighter or officer in any organized fire department, and full credit is given for military service after World War I.

County or municipality employers must adopt and file a resolution with the State Comptroller to elect these benefits, accompanied by an affidavit confirming receipt of a cost estimate from the retirement system; the election applies to all members in covered titles.

All past service costs associated with implementing the plan must be borne by the electing employer; estimated annual contribution increase of approximately 5% of covered employee salaries, plus a one-time past service cost averaging approximately 36% of covered salaries.