S T A T E   O F   N E W   Y O R K
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                                  6340

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             March 15, 2011
                               ___________

Introduced  by  M.  of  A.  CANESTRARI  -- read once and referred to the
  Committee on Governmental Employees

AN ACT authorizing the town of East Greenbush, in the county of  Rensse-
  laer,  to  make  retired  employee  Richard C. Bender eligible for the
  retirement incentive offered by chapter 105 of the laws of 2010

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Notwithstanding any other provision of law to the contrary,
the town of East Greenbush, in the county of Rensselaer, a participating
employer  in  the New York state and local employees' retirement system,
which previously elected to offer the temporary retirement incentive for
certain public employees, established pursuant to  chapter  105  of  the
laws  of 2010, is hereby authorized to make such plan available to Rich-
ard C. Bender, who was employed by the town of East Greenbush from Octo-
ber 3, 1980 and who retired from the New York state and local employees'
retirement system effective August 13, 2010, and  who  for  reasons  not
ascribable  to his own negligence, failed to retire under the ninety day
retirement incentive window offered by the town of East Greenbush pursu-
ant to chapter 105 of the laws of 2010 and to allow Richard C. Bender to
change the date of his retirement to October 1, 2010 if  he  shall  file
such request with the state comptroller by December 31, 2011.
  S  2. All past service costs associated with the implementation of the
provisions of this act shall be borne by the town of East Greenbush  and
may be amortized over a period of ten years.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill  would  allow  Richard C. Bender, a retiree of the New York
State and Local Employees' Retirement System,  to  change  his  date  of
retirement  to October 1, 2010 to be within the 90 day retirement incen-
tive window offered by the Town of East  Greenbush  for  the  retirement
benefits  under  the  provisions of Chapter 105 of the laws of 2010. Mr.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09105-02-1
              

A. 6340                             2

Bender must file a request with the state comptroller  by  December  31,
2011.
  If  this bill is enacted and Richard C. Bender receives the retirement
incentive, there will be an immediate past service cost of approximately
$160,000 which will be borne by the Town of East Greenbush as a one-time
payment. This estimate is based on the assumption that payment  will  be
made  on  February  1,  2012.  If this cost is amortized over a ten year
period, the cost for the first year, including interest would be approx-
imately $21,700.
  This estimate, dated March 4, 2011 and intended for  use  only  during
the  2011  Legislative Session, is Fiscal Note No. 2011-126, prepared by
the Actuary for the New  York  State  and  Local  Employees'  Retirement
System.