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.
Impact
If enacted, this bill would modify the existing provisions of the Retirement and Social Security Law (RSSL) specifically for the defined cohort of Binghamton firefighters. It would enable Edwards to receive the retirement benefits he previously could not claim due to the timing of his application, thus ensuring equitable treatment of service employees. The legislation would impact the city's financial obligations, as the employer past service costs associated with implementing this change will be borne by the City of Binghamton, potentially increasing its pension contributions in future budgets.
Summary
Bill S07758 seeks to authorize the City of Binghamton to offer selected retirement plan options to Firefighter David Edwards, allowing him to receive service credit under a special plan that provides for benefits based on a one-sixtieths formula after twenty-five years of total creditable service. The bill recognizes that Edwards failed to apply for this optional plan in a timely manner but argues that this delay was not due to any negligence on his part, thus justifying the need for this legislative intervention.
Contention
While the bill does seem to party to a specific firefighter's case, it highlights broader themes of support and opposition among stakeholders regarding pensions and municipal fiscal management. Critics may argue that bypassing standard application processes could create precedents for others in similar positions, affecting the overall pension system integrity. Conversely, supporters would contend that the intent to right an oversight in the application process justly serves public employees and promotes commitment within the firefighting community.
Same As
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.
Provides that a member with credited service in excess of twenty-five years shall receive an additional retirement allowance equal to one-sixtieth of such member's final average salary for each year of creditable service in excess of twenty-five years; makes related provisions.
Provides that a member with credited service in excess of twenty-five years shall receive an additional retirement allowance equal to one-sixtieth of such member's final average salary for each year of creditable service in excess of twenty-five years; makes related provisions.
Authorizes Sgt. Bethany Kidd to receive certain service credit under a twenty year retirement plan for service with the Seneca Falls Police Department.
Authorizes Sgt. Bethany Kidd to receive certain service credit under a twenty year retirement plan for service with the Seneca Falls Police Department.
Authorizes Sergeant Angela Anderson to receive certain service credit under a twenty year retirement plan for service with the Seneca Falls Police Department.
Authorizes Sergeant Angela Anderson to receive certain service credit under a twenty year retirement plan for service with the Seneca Falls Police Department.
Enables public employers to offer an age fifty-five with ten years of service or age fifty with twenty-five years of service temporary retirement incentives for certain public employees.
Enables public employers to offer an age fifty-five with ten years of service or age fifty with twenty-five years of service temporary retirement incentives for certain public employees.