S3816A-2011 Actions

• Apr 30, 2012: PRINT NUMBER 3816A
• Apr 30, 2012: AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS
• Jan 4, 2012: REFERRED TO CIVIL SERVICE AND PENSIONS
• Mar 4, 2011: REFERRED TO CIVIL SERVICE AND PENSIONS

S3816A-2011 Memo

BILL NUMBER:S3816A

TITLE OF BILL:
An act
to authorize the city of Mount Vernon, in the county of Westchester, to
offer certain retirement options to Paul D'Amore, Christopher Grieco,
Wendell Griffin, Erin Holly, Thomas Joy, Patsy Leone and Jeremy
Villanueva, police officers employed by such city

PURPOSE OR GENERAL IDEA OF BILL:
To reopen the provisions of section 384-d of the retirement and social
security law for 7 police officers in the city of Mount Vernon.

JUSTIFICATION:
Due to an oversight by the Department of Public Safety, the 7 officers
were placed into the 375-1 plan of the Retirement system instead of
the 384-d plan. The officers were not able to fix the error within
the allowed time frame of one year. As such, legislation will be
enacted to allow the officers to be placed in the desired plan.

PRIOR LEGISLATIVE HISTORY:
2009-10: S.7765/A.10849A (Pretlow) - Passed Senate/Referred to
Governmental Employees in Assembly

FISCAL IMPLICATIONS:
This bill will allow the City of Mount Vernon to reopen the provisions
of Section 384-d of the Retirement and Social Security Law for seven
Police Officers; Paul D'Amore, Christopher Grieco, Wendell Griffin,
Erin Holly, Thomas Joy, Patsy Leone and Jeremy Villanueva.

If this legislation is enacted during the 2012 legislative session, we
anticipate that there will be an increase of approximately $25,000 in
the annual contributions of the City of Mount Vernon 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 $90,700, which would
be borne by the city of Mount Vernon as a one-time payment. This
estimate is based on the assumption that payment will be made on
February 1, 2013.

This estimate, dated March 30, 2012 and intended for use only during
the 2012 legislative session, is Fiscal note No. 2012-124, prepared
by the Actuary for the New York state and Local Police and Fire
Retirement System.

EFFECTIVE DATE:
This act shall Lake effect immediately.

S3816A-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 3816--A
 2011-2012 Regular Sessions
 I N  SENATE
 March 4, 2011
 
 Introduced  by  Sen. HASSELL-THOMPSON -- read twice and ordered printed,
 and when printed to be committed to the Committee on Civil Service and
 Pensions -- recommitted to the Committee on Civil Service and Pensions
 in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said  commit
 tee
 

AN ACT to authorize the city of Mount Vernon, in the county of Westches
 ter,  to offer certain retirement options to Paul D'Amore, Christopher
 Grieco, Wendell Griffin, Erin Holly, Thomas Joy, Patsy Leone and Jere
 my Villanueva, police officers employed by such city
 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  city of Mount Vernon, in the county of Westchester, a participating
 employer in the New York state and  local  police  and  fire  retirement
 system,  which  previously elected to offer the optional retirement plan
 established pursuant to section 384-d of the retirement and social secu
 rity law to police officers employed by such city, is hereby  authorized
 to  make  participation in such plan available to Paul D'Amore, Christo
 pher Grieco, Wendell Griffin, Erin Holly, Thomas Joy,  Patsy  Leone  and
 Jeremy Villanueva, police officers employed by the city of Mount Vernon,
 who,  on the effective date of this act are covered under the provisions
 of section 375-i of the retirement and social security law, and who, for
 reasons not ascribable to their own negligence failed to make  a  timely
 application to participate in such optional retirement plan. The city of
 Mount  Vernon  may  so elect by filing with the state comptroller, on or
 before June 30, 2013, a resolution of its legislative body together with
 certification that any such  police  officer  did  not  bar  himself  or
 herself from participation in such retirement plan as a result of his or
 her  own negligence. Thereafter, any such police officer may elect to be
 covered by the provisions of section 384-d of the retirement and  social
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03307-08-2
 
       S. 3816--A                          2
 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 costs associated with implementing the provisions of this act
 shall be borne by the city of Mount Vernon.
 

S 3. This act shall take effect immediately.
 FISCAL  NOTE.--This bill will allow the City of Mount Vernon to reopen
 the provisions of

Section 384-d of the Retirement  and  Social  Security
 Law for seven Police Officers: Paul D'Amore, Christopher Grieco, Wendell
 Griffin, Erin Holly, Thomas Joy, Patsy Leone and Jeremy Villanueva.
 If this legislation is enacted during the 2012 legislative session, we
 anticipate  that  there  will be an increase of approximately $25,000 in
 the annual contributions of the   City of Mount Vernon  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 $90,700, which would be
 borne by the City of Mount Vernon as a one-time payment.  This  estimate
 is  based  on  the  assumption  that payment will be made on February 1,
 2013.
 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 30, 2012 and intended for use only during
 the 2012 Legislative Session, is Fiscal Note No. 2012-124,  prepared  by
 the  Actuary for the New York State and Local Police and Fire Retirement
 System.

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