NY A07893

Authorizes Lt. Thomas Cleere of the Seneca Falls Police Department to transfer from the Section 375-i retirement plan to the more favorable Section 384-d special twenty-year retirement plan

Requires the Town of Seneca Falls to elect to assume additional costs by filing a resolution with the state comptroller within 180 days of the act's effective date

Cleere must file a request with the state comptroller within one year to be covered under the new retirement plan

Town of Seneca Falls will bear all past service costs, estimated at approximately $188,000, which may be amortized over ten years

Annual contributions from the Town are expected to increase by approximately $13,000 for fiscal year ending March 31, 2026