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NY S07758
Bill
Status
5/5/2025
Primary Sponsor
Lea Webb
Click for details
AI Summary
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Authorizes the City of Binghamton to allow firefighter David Edwards to participate in an enhanced retirement plan (one-sixtieths after 25 years of service) that he missed due to failure to file a timely application through no fault of his own negligence
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Requires the City of Binghamton to file a resolution with the state comptroller within 9 months certifying that Edwards' missed deadline was not due to his own negligence
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Edwards must file his request to participate within one year of the act's effective date to receive full rights and benefits under the plan
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City of Binghamton bears all employer past service costs, estimated at $16,700 as a one-time payment or $2,130 annually if amortized over 10 years
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Annual contribution increase to the city estimated at approximately $1,100 for fiscal year ending March 31, 2026
Legislative Description
Authorizes David Edwards to receive certain service credit under a twenty-five year retirement plan offering one-sixtieths after twenty-five years of total creditable service for service with the Binghamton Fire Department.
Last Action
SUBSTITUTED BY A7915
6/12/2025