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NY S08088
Bill
Status
5/15/2025
Primary Sponsor
Joseph Griffo
Click for details
AI Summary
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Authorizes Scott Hoag, a Rome police officer, to transfer from the general retirement plan (section 375-i) to the special twenty-year retirement plan (section 384-d) after missing the filing deadline through no fault of his own
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City of Rome must pass a resolution and file it with the state comptroller within six months certifying the missed deadline was not due to the officer's negligence
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City of Rome assumes all additional costs, including an immediate past service cost of approximately $329,000 (or $42,000/year if amortized over 10 years) plus roughly $13,000 in increased annual contributions
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Officer has six months after the city's resolution to elect coverage under the special twenty-year retirement plan
Legislative Description
Authorizes Scott Hoag, a city of Rome police officer, to receive certain credit under section 384-d of the retirement and social security law.
Last Action
SUBSTITUTED BY A8489
6/11/2025