NY A08152

Authorizes six named Town of Southold police officers (Frank Lyburd III, Brian McNamara, Peter J. Jacobs, Roman S. Wilinski, Alex U. Chenche, and Tara T. Desposito) to transfer from the general retirement plan to the optional 20-year police retirement plan under Section 384-d

Officers were enrolled in the wrong retirement plan through no fault of their own, with start dates ranging from October 2003 to December 2014

Town of Southold must file a resolution with the state comptroller within six months of the act's effective date, certifying the officers were not negligent in their incorrect enrollment

All costs to be borne by the Town of Southold, including a one-time past service cost of approximately $1.45 million (or $324,000 annually if amortized over five years) and ongoing annual contribution increases of approximately $110,000

Officers must elect coverage within one year of the act's effective date and will receive full credit for their prior service upon the town's assumption of additional costs