NY S07688

Authorizes the Town of Southold in Suffolk County to allow six named police officers (Frank Lyburd III, Brian McNamara, Peter J. Jacobs, Roman S. Wilinski, Alex U. Chenche, and Tara T. Desposito) to enroll in the optional 20-year police retirement plan under Section 384-d of the Retirement and Social Security Law

These officers were incorrectly enrolled in the general retirement plan (Section 375-i) through no fault of their own, with start dates ranging from October 2003 to December 2014

Town must file a resolution with the State Comptroller within six months of the act's effective date, certifying the officers were not at fault for the enrollment error; officers then have one year to elect coverage

All costs to be borne by the Town of Southold, with an estimated immediate past service cost of approximately $1.45 million (payable as lump sum or amortized at $324,000/year over 5 years) plus approximately $110,000 in increased annual contributions

Affected officers will receive full service credit and all benefits associated with the 20-year retirement plan upon the town's election to assume the additional costs