Authorizes the village of Ellenville to offer an optional twenty year retirement plan to certain police officers.

---

A9588-2011 Actions

• Jul 18, 2012: signed chap.146
• 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.1008
• Jun 21, 2012: SUBSTITUTED FOR S6781
• 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.706
• May 31, 2012: reported
• May 15, 2012: reported referred to ways and means
• Mar 20, 2012: referred to governmental employees

A9588-2011 Votes

A9588-2011 Text

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

                                    9588

                            I N  ASSEMBLY

                               March 20, 2012
                                 ___________

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

  AN ACT to authorize the village of Ellenville to offer an optional twen-
    ty year retirement plan to certain police officers

    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  contra-
  ry,  the village of Ellenville, a participating employer in the New York
  state and local police and  fire  retirement  system,  which  previously
  elected  to  offer the optional twenty year retirement plan, established
  pursuant to section 384-d of the retirement and social security law,  to
  police  officers  employed  by  such  town, is hereby authorized to make
  participation in such plan available to  Michael  Jeter,  LaMark  Logan,
  Daniel Persell, Christopher Rosa, Robert Ross, and Vanessa Nixon-Tomlin,
  police  officers employed by the Village of Ellenville, who, for reasons
  not ascribable to their own negligence, failed to make a timely applica-
  tion to participate in such optional twenty year  retirement  plan.  The
  village of Ellenville may so elect by filing with the state comptroller,
  on  or  before  December 31, 2012, a resolution of its local legislative
  body together with certification that such police officers did  not  bar
  themselves  from  participation  in  such retirement plan as a result of
  their own negligence. Thereafter, such police officers may elect  to  be
  covered  by the provisions of section 384-d of the retirement and social
  security law, and shall be entitled to  the  full  rights  and  benefits
  associated with coverage under such section, by filing a request to that
  effect with the state comptroller on or before June 30, 2013.
    S   2.  All  past  service  costs  associated  with  implementing  the
  provisions of this act shall be borne by the village of  Ellenville  and
  may be amortized over a ten year period.
    S 3. This act shall take effect immediately.
    FISCAL NOTE.--Pursuant to Legislative Law, Section 50:

    This  bill  will  allow  the  Village  of  Ellenville  to  reopen  the
  provisions of Section 384-d of the Retirement and  Social  Security  Law

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD14921-03-2

 A. 9588                             2

  for  police officers Michael Jeter, LaMark Logan, Daniel Persell, Chris-
  topher Rosa, Robert Ross and Vanessa Nixon-Tomlin.
    If this legislation is enacted during the 2012 legislative session, we
  anticipate that there will be an increase of approximately $6,800 in the
  annual  contributions  of  the Village of Ellenville for the fiscal year
  ending March 31, 2013.
    In addition to the annual contributions discussed above, there will be
  an immediate past service cost of approximately $100,000, which would be
  borne by the Village of Ellenville as a one-time payment. This  estimate
  is  based  on  the  assumption  that payment will be made on February 1,
  2013. The Village of Ellenville may amortize this cost over a period  of
  ten (10) years. The first year cost, including interest, will be approx-
  imately $13,500.
    Summary of relevant resources:

    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 16, 2012, and intended for use only  during
  the  2012  Legislative Session, is Fiscal Note No. 2012-114, prepared by
  the Actuary for the New York State and Local Police and Fire  Retirement
  System.