Bill > A08544

This bill provides a special retirement plan opportunity for Mackenzie M. Covert, a police officer in the village of Trumansburg, Tompkins County. Currently enrolled in section 375-i of the Retirement and Social Security Law, the bill allows her to be transferred to the special twenty-year retirement plan under section 384-d, which offers more favorable retirement terms. The village of Trumansburg can elect to assume this transfer by filing a resolution with the state comptroller within one year of the act's effective date, certifying that Covert did not prevent her own participation through negligence. If the village agrees, Covert can then file a request with the state comptroller to be covered under the new retirement plan. The village will bear all past service costs associated with this transfer, which are estimated at approximately $139,000 as a one-time payment, with anticipated annual contribution increases of around $10,000. The bill is specifically tailored to Covert's situation, providing her with an opportunity to access more beneficial retirement benefits through her local government's voluntary action.

Budget and Finance, Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A8544