Authorizes the reopening of the twenty-five year retirement benefit plan to certain deputy sheriffs of Sullivan county who failed to make a timely election thereof.

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A9566-2011 Actions

• Jul 18, 2012: signed chap.145
• Jul 6, 2012: delivered to governor
• Jun 21, 2012: RETURNED TO ASSEMBLY
• Jun 21, 2012: PASSED SENATE
• Jun 21, 2012: HOME RULE REQUEST
• Jun 21, 2012: 3RD READING CAL.1007
• Jun 21, 2012: SUBSTITUTED FOR S6780
• Jun 4, 2012: REFERRED TO CIVIL SERVICE AND PENSIONS
• Jun 4, 2012: delivered to senate
• Jun 4, 2012: passed assembly
• Jun 4, 2012: home rule request
• Jun 1, 2012: advanced to third reading cal.705
• May 31, 2012: reported
• May 15, 2012: reported referred to ways and means
• Mar 16, 2012: referred to governmental employees

A9566-2011 Votes

A9566-2011 Text

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

                                    9566

                            I N  ASSEMBLY

                               March 16, 2012
                                 ___________

  Introduced  by M. of A. GUNTHER -- read once and referred to the Commit-
    tee on Governmental Employees

  AN ACT relating to authorizing the reopening  of  the  twenty-five  year
    retirement  benefit plan to certain deputy sheriffs of Sullivan county
    who failed to make a timely election thereof

    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,
  deputy  sheriffs of Sullivan county, Scott Galligan, Sean Grady and Rose
  Ionta-Tocco, who were eligible to elect to participate  in  the  twenty-
  five  year  retirement benefit plan established pursuant to article 14-B
  of the retirement and social security law, and who failed  to  elect  to
  participate  in  such  retirement  benefit  plan  in a timely manner for
  reasons not ascribable to their own negligence, shall be deemed to  have
  timely  made  such  election  if each such deputy sheriff, respectively,
  shall file an election to participate in the twenty-five year retirement
  benefit plan with the state comptroller on or before December 31, 2012.
    S 2. The past service costs of implementing the provisions of this act
  shall be borne by the county of Sullivan.
    S 3. This act shall take effect immediately.
    Fiscal Note.--Pursuant to Legislative Law, Section 50:

    This bill would allow Sullivan County to reopen the provisions of  the
  twenty-five year retirement plan established pursuant to article 14-B of
  the  Retirement  and  Social Security Law for Scott Galligan, Sean Grady
  and Rose Ionta-Tocco.
    If this legislation is enacted during the 2012 legislative session, we
  anticipate that there would be an increase of  approximately  $4,500  in
  the  annual  contributions of Sullivan County for the fiscal year ending
  March 31, 2013.
    In addition to the annual contributions discussed above,  there  would
  be  an  immediate past service cost of approximately $7,650, which would
  be borne by Sullivan County as a  one-time  payment.  This  estimate  is
  based on the assumption that payment would be made on February 1, 2013.
    Summary of relevant resources:


   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD14819-02-2

 A. 9566                             2

    Data:  March  31,  2011  Actuarial Year End File with distributions of
  membership and other statistics displayed in  the  2011  Report  of  the
  Actuary and 2011 Comprehensive Annual Financial Report.
    Assumptions  and  Methods:  2010  and  2011 Annual Report to the Comp-
  troller on Actuarial Assumptions, Codes Rules  and  Regulations  of  the
  State of New York: Audit and Control.
    Market  Assets and GASB Disclosures: March 31, 2011 New York State and
  Local Retirement System Financial Statements and Supplementary  Informa-
  tion.
    Valuations  of  Benefit Liabilities and Actuarial Assets summarized in
  the 2011 Actuarial Valuations report.
    I am a member of the American Academy of Actuaries and meet the Quali-
  fication Standards  to render the actuarial opinion contained herein.
    This estimate, dated March 8, 2012, and intended for use  only  during
  the  2012  Legislative Session, is Fiscal Note No. 2012-108, prepared by
  the Actuary for the New  York  State  and  Local  Employees'  Retirement
  System.