Bill > S04324

This bill provides Kenneth Panaro with retroactive Tier IV membership in the New York State and Local Employees' Retirement System (NYSLRS), addressing an administrative oversight from his initial employment with the Town of Hempstead on June 25, 2007. Specifically, the bill allows Panaro, who is currently a Tier V member, to be deemed a member of the retirement system as of his original employment date, with Tier IV status. He must file an application with the retirement system within one year of the bill's effective date, and he will not receive a refund of any employee contributions already made. The Town of Hempstead will be responsible for all past service costs associated with this retroactive membership, which are estimated at approximately $83,300 as a one-time payment, and an additional estimated $3,100 increase in annual contributions for the fiscal year ending March 31, 2026. The bill aims to rectify an unintended administrative error that prevented Panaro from being properly enrolled in the retirement system when he first began working for the town.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S4324