NY A06911

Allows Suffolk County, or towns and villages within Suffolk County, to elect to provide Fire Marshal I employees and their supervisors with an optional 25-year retirement plan through the New York State and Local Employees' Retirement System

Retirement benefit equals one-half of final average salary after 25 years of service, with an additional one-sixtieth of final average salary for each year beyond 25 years, capped at three-fourths (75%) of final average salary

Creditable service includes time as a fire marshal I or supervisor, plus service as a paid firefighter or officer in any organized fire department, and military service in wartime

Members currently covered under Article 14 (Tier 6) have one year to make an irrevocable election to switch to this 25-year retirement plan

Participating employers must bear all costs, including an estimated 6% annual increase in contributions on eligible salaries plus a one-time past service cost averaging approximately 40% of salary paid to covered employees