Authorizes certain police officers in the town of Southold, county of Suffolk, to receive certain service credit under section 384-d of the retirement and social security law

Six Southold officers gain town-funded retirement credit

The law lets Southold reopen its optional 20-year retirement plan for six named police officers, with full service credit. Service starts October 20, 2003, for Frank Lyburd III; November 1, 2004, for Brian McNamara, Peter J. Jacobs, and Roman S. Wilinski; and December 15, 2014, for Alex U. Chenche and Tara T. Desposito. Their earlier enrollment in the general retirement plan must not have resulted from their own negligence. The law takes effect immediately. To reopen coverage, the town must accept all added costs and file a resolution and certification with the state comptroller within six months. After the town elects, officers must file for coverage with the comptroller within one year of the law’s effective date. They then receive full rights and benefits under the plan. The town can spread costs over five years. The fiscal note estimates $1.45 million in past-service costs, or about $324,000 yearly over five years, including interest. It also estimates $110,000 in added contributions for the fiscal year ending March 31, 2026. Future added annual contributions are projected to average 9.1% of salary.