Grants retroactive tier IV membership in the New York state and local employees' retirement system to Kenneth Panaro.

This bill grants Kenneth Panaro retroactive tier IV membership in the New York state and local employees' retirement system, effective from June 25, 2007, the date he first began employment with the town of Hempstead. Panaro, currently a Tier 5 member, will not receive a refund of any contributions made. The town of Hempstead will bear all past service costs, estimated at approximately $83,300 as a one-time payment, and an additional $3,100 in annual contributions for the fiscal year ending March 31, 2026. Future annual costs will vary based on Panaro's salary and billing rates.

Grants retroactive tier IV membership in the New York state and local employees' retirement system to Kenneth Panaro.

This bill grants Kenneth Panaro retroactive tier IV membership in the New York state and local employees' retirement system, effective from June 25, 2007, the date he first began employment with the town of Hempstead. Panaro, currently a Tier 5 member, will not receive a refund of any contributions made. The town of Hempstead will bear all past service costs, estimated at approximately $83,300 as a one-time payment, and an additional $3,100 in annual contributions for the fiscal year ending March 31, 2026. Future annual costs will vary based on Panaro's salary and billing rates.