S3550-2011 Actions

• Jun 21, 2011: SUBSTITUTED BY A5665
• Jun 21, 2011: ORDERED TO THIRD READING CAL.1460
• Jun 21, 2011: COMMITTEE DISCHARGED AND COMMITTED TO RULES
• Feb 25, 2011: REFERRED TO CIVIL SERVICE AND PENSIONS

S3550-2011 Meetings

S3550-2011 Calendars

S3550-2011 Votes

S3550-2011 Memo

BILL NUMBER:S3550

TITLE OF BILL:
An act
to
authorize the town of North Greenbush to offer an optional twenty
year retirement plan to certain police officers employed by such town

PURPOSE OR GENERAL IDEA OF BILL:
The bill will allow seven police
officers in the town of North Greenbush an optional twenty year
retirement plan.

SUMMARY OF SPECIFIC PROVISIONS:
Section one authorizes the town of
North Greenbush to offer an optional twenty year retirement plan to
seven police officers. Section two requires the town of North
Greenbush to bear all the employer costs of offering such plan to
these police officers. Section three is the effective date.

JUSTIFICATION:
Under section 384-d of the retirement and social
security law, police officers in the town of North Greenbush are
eligible to receive an optional twenty year retirement plan. Due to
reasons not ascribable to seven police officers in the Town of North
Greenbush, such optional twenty year retirement plan was not offered
to them This legislation will correct this oversight and bring the
retirement benefit of these officers in line with other police
officers in North Greenbush.

PRIOR LEGISLATIVE HISTORY:
A.10054-A/S.6967-A Passed both Houses/Vetoed by Governor

FISCAL IMPLICATIONS:
None to the state

EFFECTIVE DATE:
Immediately.

S3550-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 S. 3550                                                  A. 5665
 2011-2012 Regular Sessions
 SENATE - ASSEMBLY
 February 25, 2011
 
 IN  SENATE  --  Introduced  by  Sen.  McDONALD -- read twice and ordered
 printed, and when printed to be committed to the  Committee  on  Civil
 Service and Pensions
 IN  ASSEMBLY  --  Introduced  by  M.  of  A. CANESTRARI -- read once and
 referred to the Committee on Governmental Employees
 

AN ACT to authorize the town of North Greenbush  to  offer  an  optional
 twenty  year  retirement  plan  to certain police officers employed by
 such town
 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  North Greenbush, 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  Kate  Anslow,  Joseph  Farrell,
 Lisa  Giddings-Fumarola,  Michael  Merola, Randy Pastore, Douglas Pinzer
 and Clifford Ruschmeyer, police officers employed by the town  of  North
 Greenbush,  who,  for  reasons  not  ascribable to their own negligence,
 failed to make a timely application  to  participate  in  such  optional
 twenty year retirement plan. The town of North Greenbush may so elect by
 filing  with  the  state  comptroller, on or before December 31, 2011, 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
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01496-03-1
 
       S. 3550                             2                            A. 5665
 such section, by filing a request to that effect with  the  state  comp
 troller 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 town of North Greenbush 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  Town  of  North  Greenbush  to  reopen  the
 provisions  of 

Section  384-d of the Retirement and Social Security Law
 for police officers Kate Anslow, Joseph Farrell, Lisa Giddings-Fumarola,
 Michael Merola, Randy Pastore, Douglas Pinzer and Clifford Ruschmeyer.
 If this legislation is enacted during the 2011 legislative session, we
 anticipate that there will be an increase of  approximately  $31,700  in
 the  annual  contributions of the Town of North Greenbush 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 $253,000, which would be
 borne by the Town of North Greenbush as a one-time payment. If this cost
 were amortized over a ten (10) year period, the cost for the first  year
 including  interest,  would  be  approximately $34,300. This estimate is
 based on the assumption that payment will be made on February 1, 2012.
 This estimate, dated February 14,  2011  and  intended  for  use  only
 during  the  2011  Legislative  Session,  is  Fiscal  Note No. 2011-122,
 prepared by the Actuary for the New York State and Local Police and Fire
 Retirement System.

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