Authorizes Kevin Burns to receive certain service credit under a twenty year retirement plan for service with the Binghamton Fire Department.
Impact
The implementation of this bill will have financial implications for the City of Binghamton. Should the bill pass during the 2025 Legislative Session, it is estimated that there will be an increase of approximately $5,400 in the city's annual contributions for the fiscal year ending March 31, 2026. Notably, a one-time past service cost of around $235,000 will also fall to the city, which can be amortized over a ten-year period. Such financial responsibilities highlight the fiscal considerations tied to granting revised retirement benefits to public service employees.
Summary
Bill A07978 seeks to authorize a specific firefighter, Kevin Burns, from the Binghamton Fire Department, to receive certain service credit under a twenty-year retirement plan. This provision allows Burns, who was originally enrolled in a twenty-five-year retirement plan through no fault of his own, to opt for the more advantageous twenty-year plan, provided that the City of Binghamton assumes the associated costs. This adjustment in retirement plans aims to recognize the service of firefighters and align retirement benefits more closely to their years of service.
Contention
Potential points of contention regarding A07978 may revolve around the financial burden placed on local government budgets and the fairness of allowing special provisions for certain firefighters over others. Opponents might argue against the precedent set by the bill, raising concerns about equity among various public service employees and whether this could lead to similar requests from other municipalities for their personnel. Proponents, however, may advocate that the bill is simply a matter of justice for an individual who was inadvertently categorized under a longer retirement plan.
Authorizes Scott Pavlick to receive certain service credit under a twenty-five year retirement plan offering one-sixtieths after twenty-five years of total creditable service for service with the Binghamton Fire Department.
Authorizes Scott Pavlick to receive certain service credit under a twenty-five year retirement plan offering one-sixtieths after twenty-five years of total creditable service for service with the Binghamton Fire Department.
Authorizes David Edwards to receive certain service credit under a twenty-five year retirement plan offering one-sixtieths after twenty-five years of total creditable service for service with the Binghamton Fire Department.
Authorizes Sgt. Bethany Kidd to receive certain service credit under a twenty year retirement plan for service with the Seneca Falls Police Department.
Authorizes Sgt. Bethany Kidd to receive certain service credit under a twenty year retirement plan for service with the Seneca Falls Police Department.
Authorizes Melissa Baker to receive certain service credit under a twenty year retirement plan for service with the village of Blasdell Police Department.
Authorizes David Edwards to receive certain service credit under a twenty-five year retirement plan offering one-sixtieths after twenty-five years of total creditable service for service with the Binghamton Fire Department.
Provides that a member with credited service in excess of twenty-five years shall receive an additional retirement allowance equal to one-sixtieth of such member's final average salary for each year of creditable service in excess of twenty-five years; makes related provisions.
Authorizes the village of Trumansburg to offer an optional twenty-year retirement plan to Kevin R. Noterfonzo under section 384-d of the retirement and social security law.
Authorizes the village of Trumansburg to offer an optional twenty-year retirement plan to Kevin R. Noterfonzo under section 384-d of the retirement and social security law.