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.
Impact
Should this bill be enacted, it facilitates a new retirement benefit pathway for police officers in Trumansburg, highlighting the state’s recognition of service by local law enforcement. The village is responsible for all past service costs, which includes a one-time payment of approximately $3,090, in addition to an expected increase of around $550 in annual contributions for the upcoming fiscal year. This shift emphasizes the state's approach to enhancing retirement benefits for public safety personnel, potentially setting a precedent for similar requests from other municipalities.
Summary
Bill S07911 is designed to authorize the Village of Trumansburg to provide a special twenty-year retirement plan to Daniel H. Austic, a police officer who is currently enrolled in a different retirement plan under the New York State and Local Police and Fire Retirement System. This bill allows for specific adjustments to be made to Austic's retirement credits, ensuring he can receive benefits under section 384-d of the Retirement and Social Security Law, provided the village assumes the associated costs through a local legislative resolution.
Contention
While the bill primarily focuses on a specific officer, it raises broader implications regarding funding and resource allocation for municipal retirement plans. Critics might argue whether other officers could seek similar benefits, which could strain local budgets. Such discussions often lead to debates over fairness and equity in retirement funding across various public jobs. The necessity for the village to provide substantial financial backing for this change may also engender conversations on the sustainability of retirement benefits amid fluctuating economic conditions.
Same As
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 town of Seneca Falls to offer an optional twenty-year retirement plan to Jamie Buffone under section 384-d of the retirement and social security law.
Authorizes the town of Seneca Falls to offer an optional twenty-year retirement plan to Jamie Buffone under section 384-d of the retirement and social security law.
Authorizes Paul O'Brien, a village of East Aurora police officer, to receive certain credit under section 384-d of the retirement and social security law.
Authorizes the village of Dobbs Ferry to offer an optional twenty-year retirement plan to Gabriel Bonilla, former police officer employed by such village.
Authorizes the village of Dobbs Ferry to offer an optional twenty-year retirement plan to Gabriel Bonilla, former police officer employed by such village.