Authorizes the village of Port Chester to offer an optional twenty-year retirement plan to Michael Sprague, a police officer employed by such village since January 7, 2013.
Summary
Bill S05564 authorizes the village of Port Chester to offer an optional twenty-year retirement plan to Michael Sprague, a police officer who has been employed by the village since January 7, 2013. The bill allows Sprague to receive full credit for his service under the special retirement plan, despite having failed to file a timely application. The village must assume the additional costs associated with this provision, which can be amortized over a ten-year period. This legislation aims to rectify an oversight in the retirement application process for this specific officer.
Impact
The passage of this bill will create a specific exception in the retirement laws for Michael Sprague, allowing him to benefit from a retirement plan that he would otherwise not qualify for due to a missed deadline. This will require the village of Port Chester to bear the financial burden of the associated past service costs, estimated at approximately $345,000 initially, with ongoing annual contributions expected to increase by about $21,000. The financial implications will affect the village's budget and retirement system contributions moving forward.
Sentiment
The sentiment surrounding Bill S05564 appears to be overwhelmingly positive, as indicated by the unanimous votes in the Senate Civil Service and Pensions Committee, the Senate Rules Committee, and the final Senate floor vote. The bill has received support from various stakeholders, likely due to its focus on ensuring fair treatment for a police officer who missed a deadline through no fault of his own.
Contention
There are no significant points of contention noted in the discussions or voting history regarding this bill. The unanimous support suggests that there are no opposing views on the necessity or fairness of providing this retirement option to Michael Sprague. However, the financial implications for the village of Port Chester may be a concern for some, particularly regarding the burden of the past service costs.
Same As
Authorizes the village of Port Chester to offer an optional twenty-year retirement plan to Michael Sprague, a police officer employed by such village since January 7, 2013.
Authorizes the village of Port Chester to offer an optional twenty-year retirement plan to Michael Sprague, a police officer employed by such village since January 7, 2013.
Authorizes the village of Trumansburg to offer an optional twenty-year retirement plan to Daniel H. Austic under section 384-d of the retirement and social security law.
Authorizes the village of Trumansburg to offer an optional twenty-year retirement plan to Daniel H. Austic under section 384-d of the retirement and social security law.
Authorizes the village of Trumansburg to offer an optional twenty-year retirement plan to Mackenzie M. Covert under section 384-d of the retirement and social security law.
Authorizes the village of Trumansburg to offer an optional twenty-year retirement plan to Kevin R. Noterfonzo under section 384-d of the retirement and social security law.
Authorizes the village of Trumansburg to offer an optional twenty-year retirement plan to Mackenzie M. Covert under section 384-d of the retirement and social security law.
Authorizes the village of Trumansburg to offer an optional twenty-year retirement plan to Kevin R. Noterfonzo under section 384-d of the retirement and social security law.
Authorizes Melissa Baker to receive certain service credit under a twenty year retirement plan for service with the village of Blasdell Police Department.