Bill > A05465

This bill grants Kenneth Panaro retroactive Tier IV membership in the New York State and Local Employees' Retirement System, 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 5 member, to be deemed a Tier IV member as of his original employment date, provided he files an application with the retirement system within one year of the act's effective date. The bill stipulates that while Panaro will receive retroactive membership, he will not be refunded any employee contributions he has already made. The Town of Hempstead will bear all past service costs associated with this change, which are estimated at approximately $83,300 as a one-time payment, and will also experience an increased annual contribution of about $3,100 for the fiscal year ending March 31, 2026. The bill takes effect immediately and is designed to rectify an unintentional exclusion from the retirement system during Panaro's initial employment.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A5465