S T A T E   O F   N E W   Y O R K
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                                  9845

                          I N  A S S E M B L Y

                              May 27, 2014
                               ___________

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

AN ACT to authorize the DeWitt fire district, in  the  town  of  DeWitt,
  county  of Onondaga, to offer the optional twenty year retirement plan
  to firefighters Gavin J. MacLachlin and Michael E. O'Connor

  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  DeWitt  fire district, in the town of DeWitt, county of Onondaga, 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  firefighters  employed  by  such
fire  district,  is hereby authorized to make participation in such plan
available to firefighters Gavin J. MacLachlin and Michael  E.  O'Connor,
firefighters  employed by the DeWitt fire district, who, for reasons not
ascribable to their own negligence, failed to make  timely  applications
to  participate in such optional twenty year retirement plan. The DeWitt
fire district may so elect by filing with the state comptroller,  on  or
before  December 31, 2014, a resolution of its board of fire commission-
ers, together with certification that  such  firefighters  did  not  bar
themselves  from  participation  in  such retirement plan as a result of
their own negligence. Thereafter, such  firefighters  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, 2015.
  S  2.  All  past  costs associated with implementing the provisions of
this act shall be borne by the DeWitt fire district.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--This bill will allow the DeWitt Fire District to  reopen
the  provisions  of  Section 384-d of the Retirement and Social Security
Law for firefighters Gaven J. MacLachlan and Michael E. O'Connor.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11449-03-4
              

A. 9845                             2

  If this legislation is enacted during the  2014  legislative  session,
and  both firefighters become covered by the provisions of Section 384-d
of the Retirement and Social Security Law, we anticipate that there will
be an increase of approximately $9,600 in the  annual  contributions  of
the  DeWitt  Fire District for the fiscal year ending March 31, 2015. In
future years, this cost will vary as the billing rates and  salaries  of
Gavin J. MacLachlan and Michael E. O'Connor change.
  In addition to the annual contributions discussed above, there will be
an  immediate  past service cost of approximately $24,800, which will be
borne by the DeWitt Fire District as  a  one-time  payment,  assuming  a
payment date of February 1, 2015.
  Summary of relevant resources:
  The  membership  data  used  in  measuring  the impact of the proposed
change was the same as that used in the March 31, 2013  actuarial  valu-
ation.    Distributions  and  other  statistics can be found in the 2013
Report of the  Actuary  and  the  2013  Comprehensive  Annual  Financial
Report.
  The  actuarial  assumptions  and  methods  used are described in 2010,
2011, 2012 and 2013  Annual  Report  to  the  Comptroller  on  Actuarial
Assumptions,  and  the  Codes  Rules and Regulations of the State of New
York: Audit and Control.
  The Market Assets and GASB Disclosures are found in the March 31, 2013
New York State and Local  Retirement  System  Financial  Statements  and
Supplementary Information.
  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 May 22, 2014 and intended for use only during the
2014  Legislative  Session, is Fiscal Note No. 2014-138, prepared by the
Actuary for the New York State and  Local  Police  and  Fire  Retirement
System.