BILL NUMBER: S6690
SPONSOR: COONEY
 
TITLE OF BILL:
An act to authorize the county of Monroe to offer an optional twenty
year retirement plan to Christopher R. Fay, a captain employed by such
county
 
PURPOSE:
The purpose of this bill is to allow the county of Monroe to offer an
optional twenty-year retirement plan to Christopher R. Fay
 
SUMMARY OF PROVISIONS:
Section one authorizes Monroe Conty to make participation in the
optional twenty-year retirement plan as established in article 14-B of
the retirement and social security law.
Section two specifies that all costs associated with this act shall be
borne by Monroe County.
Section three sets the effective date.
 
JUSTIFICATION:
Captain Christopher R. Fay was hired to work in the Monroe County Jail
on August 26, 1991. On May 25, 1998, he was transferred to the Road
Patrol Division. For reasons not ascribable to his own negligence, he
should have been placed into Article 14B Section 553, but retirement was
never transferred over from the jail retirement to Article 146 Section
553. In 2002 he was made aware that we were still in the jail retire-
ment. At that time, he was told we could not be switched over. This
bill allows Captain Fay the option to join this retirement plan to
rectify this error.
 
LEGISLATIVE HISTORY:
2024: - Referred to
 
FISCAL IMPLICATIONS:
If this bill is enacted during the 2025 Legislative Session, we antic-
ipate that there will be an increase of approximately $14,000 in the
annual contributions of Monroe County for the fiscal year ending March
31, 2026. In future years this cost will vary as the billing rates and
salary of Christopher R. Fay change. In addition to the annual contrib-
utions discussed above, there will be an immediate past service cost of
approximately $153,000 which will be borne by Monroe County as a onetime
payment. This estimate assumes that payment will be made on February 1,
2026. If Monroe County elects to amortize this cost over a five-year
period, the cost for each year including interest would be $34,200.
 
EFFECTIVE DATE:
This act shall take effect immediately.