S3505-2011 Actions

• Jun 21, 2011: SUBSTITUTED BY A6043
• Jun 21, 2011: ORDERED TO THIRD READING CAL.1459
• Jun 21, 2011: COMMITTEE DISCHARGED AND COMMITTED TO RULES
• Feb 24, 2011: REFERRED TO CIVIL SERVICE AND PENSIONS

S3505-2011 Meetings

S3505-2011 Calendars

S3505-2011 Votes

S3505-2011 Memo

BILL NUMBER:S3505

TITLE OF BILL:

An act
to authorize the village
of Maybrook, in the county of Orange, to offer
an optional twenty year retirement plan to police officer
Michael E. Maresca

PURPOSE:

The purpose of this bill is to allow the village of Maybrook to make
available to police officer Michael E. Maresca the optional twenty
year retirement plan established pursuant to section 384-d of the
retirement and social security law.

SUMMARY OF PROVISIONS:

Section 1 states that the village of Maybrook 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 village, is authorized to make
participation in such plan available to Michael E. Maresca, a police
officer employed by the village of Maybrook, for the term of his
employment by such village, who for reasons not ascribable to his own
negligence failed to make a timely application to participate in such
optional twenty year retirement plan.

Section 2 states that all employer costs associated with implementing
the provisions of this act shall be borne by the village of Maybrook.

JUSTIFICATION:

Police Officer Michael E. Maresca for reasons not ascribable to his
own negligence failed to make a timely application to participate in
the optional twenty year retirement plan, established pursuant to
section 384-d of the retirement and social security law. Legislation
is therefore needed to remedy this situation.

LEGISLATIVE HISTORY:

S.8306 OF 2010

LOCAL FISCAL IMPLICATIONS:

There will be an anticipated increase of approximately $2,540 in the
annual contributions of the Village of Maybrook for the fiscal year
ending March 31, 2012. In addition to the annual contributions
discussed above, there will be an immediate past service cost of
approximately $8,800 which would be borne by the Village of Maybrook.

The Village of Maybrook is willing to cover all costs associated with
this legislation.

EFFECTIVE DATE:


Immediately.

S3505-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         3505
 2011-2012 Regular Sessions
 I N  SENATE
 February 24, 2011
 
 Introduced  by  Sen.  LARKIN -- read twice and ordered printed, and when
 printed to be committed to the Committee on Civil Service and Pensions
 

AN ACT to authorize the village of Maybrook, in the county of Orange, to
 offer an optional twenty year retirement plan to police officer Micha
 el E. Maresca
 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  village  of  Maybrook,  in  the  county  of Orange, 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 village, is
 hereby authorized to make participation in such plan available to Micha
 el E. Maresca, a police officer employed by  the  village  of  Maybrook,
 who,  for  reasons not ascribable to his own negligence failed to make a
 timely application to participate in such optional twenty  year  retire
 ment  plan.    The  village  of Maybrook may so elect by filing with the
 state comptroller, on or before December 31, 2011, a resolution  of  its
 board  of  trustees together with certification that such police officer
 did not bar himself from participation in  such  retirement  plan  as  a
 result  of his own negligence. Thereafter, such police officer 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 bene
 fits associated with coverage under such section, by filing a request to
 that effect with the state comptroller on or before June 30, 2012.
 

S  2.  All  past  service  costs  associated  with  implementing   the
 provisions of this act shall be borne by the village of Maybrook.
 

S 3. This act shall take effect immediately.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02808-02-1
 
       S. 3505                             2
 FISCAL NOTE.--This bill will allow the Village of Maybrook to elect to
 reopen  the  provisions  of 

Section  384-d of the Retirement and Social
 Security Law for Police Officer Michael E. Maresca.
 If  this  bill  is  enacted and the above officer become covered under
 Section 384-d, we anticipate that there will be an increase of  approxi
 mately $3,900 in the annual contributions of the Village of Maybrook for
 the fiscal year ending March 31, 2012.
 In addition to the annual contributions discussed above, there will be
 an  immediate  past  service cost of approximately $8,800 which would be
 borne by the Village of Maybrook. This estimate is based on the  assump
 tion that payment will be made on February 1, 2012.
 This  estimate,  dated  February  15,  2011  and intended for use only
 during the 2011  Legislative  Session,  is  Fiscal  Note  No.  2011-114,
 prepared by the Actuary for the New York State and Local Police and Fire
 Retirement System.

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