Bill > S07758

This bill authorizes the city of Binghamton to offer firefighter David Edwards a special retirement plan option under the New York State and Local Police and Fire Retirement System that he previously missed. Specifically, the bill allows Edwards to participate in an optional retirement plan that provides one-sixtieth of his salary for each year of service after 25 years, which he was unable to join originally through no fault of his own. The city can elect to include Edwards in this plan by filing a resolution with the state comptroller within nine months of the act's effective date, certifying that Edwards did not intentionally miss the original enrollment period. Edwards will then have one year to file a request to be covered under this retirement plan. The city will be responsible for all past service costs associated with this special provision, which are estimated at approximately $16,700 and can be amortized over a ten-year period. The fiscal note indicates that this will result in an estimated increase of about $1,100 in annual contributions for the city, with the costs potentially varying based on Edwards' future salary changes.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S7758