Authorizes a 20-year retirement plan for traffic officers in Elmira, NY, with application within one year of bill's effective date or employment.
This bill amends the retirement and social security law to allow traffic officers employed by the town of Elmira to opt into a 20-year retirement plan instead of the standard 25-year plan. Officers must submit an application within one year of the bill's effective date or within one year of their employment start. Upon retirement, eligible officers will receive a pension equal to one-half of their final average salary. The town of Elmira will bear all costs associated with this change.
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