S5072-2011 Actions

• Jun 21, 2011: SUBSTITUTED BY A7362
• Jun 21, 2011: ORDERED TO THIRD READING CAL.1471
• Jun 21, 2011: COMMITTEE DISCHARGED AND COMMITTED TO RULES
• May 3, 2011: REFERRED TO CIVIL SERVICE AND PENSIONS

S5072-2011 Meetings

S5072-2011 Calendars

S5072-2011 Votes

S5072-2011 Memo

BILL NUMBER:S5072

TITLE OF BILL:
An act
to authorize the town of East Greenbush, in the county of Rensselaer, to
reopen the provisions of an optional twenty year retirement plan to
police officer Edward A. Miano

PURPOSE OR GENERAL IDEA OF BILL: This bill will
reopen the provisions of Section 384-d of the Retirement and Social
Security Law to allow police officer Edward A. Miano to qualify for such
retirement benefits.

SUMMARY OF SPECIFIC PROVISIONS: Section 1 allows the
Town of East Greenbush, a participating employer in the New York state
and local police and fire retirement system under section 384-d of the
Retirement and Social Security Law, to make participation in such plan
available to Edward A. Miano. Section 2 requires that all costs
associated with implementing this bill will be borne by the Town of East
Greenbush, and past service costs may be amortized over a period of up
to 10 years.

JUSTIFICATION: This bill allows the Town of East
Greenbush to offer the optional twenty year retirement plan established
pursuant to section 384-d of the Retirement and Social Security Law to
police officer Edward A. Miano, who, for reasons not ascribable to his
own negligence failed to make a timely application to participate in
such program. All costs associated with this legislation are to be borne
by the Town of East Greenbush.

PRIOR LEGISLATIVE HISTORY: New bill

FISCAL IMPLICATIONS: None to the State

EFFECTIVE DATE: Immediately

S5072-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 S. 5072                                                  A. 7362
 2011-2012 Regular Sessions
 SENATE - ASSEMBLY
 May 3, 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 East Greenbush, in the county of Rensse
 laer, to reopen the provisions of an optional twenty  year  retirement
 plan to police officer Edward A. Miano
 

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 East Greenbush, in the county of Rensselaer, a participating
 employer in the New York state and  local  police  and  fire  retirement
 system,  which  offers  the  optional twenty year retirement plan estab
 lished 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 Edward A.  Miano, a  police
 officer  employed  by  the  town of East Greenbush, who, for reasons not
 ascribable to his own negligence failed to make a timely application  to
 participate in such optional twenty year retirement plan.
 The town of East Greenbush may so elect by filing with the state comp
 troller,  on  or before December 31, 2011, a resolution of its governing
 body 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 benefits associated
 with coverage under such section for the service rendered with the  town
 of  East  Greenbush  only,  by  filing a request to that effect with the
 state comptroller on or before June 30, 2012.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09025-02-1
 
       S. 5072                             2                            A. 7362
 

S  2.  All  past  service  costs  associated  with  implementing   the
 provisions  of this act shall be borne by the town of East Greenbush and
 the past service costs associated with this act may be amortized over  a
 period of five or ten years.
 

S 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law,

Section 50:

 This bill will allow the Town of East Greenbush to elect to reopen the
 provisions  of 

Section  384-d of the Retirement and Social Security Law
 for police officer Edward A. Miano.
 If this bill is enacted, we anticipate that there will be an  increase
 of  approximately $4,800 in the annual contributions of the Town of East
 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 $57,700 which  would  be
 borne by the Town of East Greenbush as a one-time payment. This estimate
 is  based  on  the  assumption  that payment will be made on February 1,
 2012. If the Town elects to amortize this cost over a period of five (5)
 or ten (10) years, the past service costs for the first  year  including
 interest, would be approximately $13,300 or $7,820 respectively.
 This  estimate, dated March 14, 2011, and intended for use only during
 the 2011 Legislative Session, is Fiscal Note No. 2011-134,  prepared  by
 the  Actuary for the New York State and Local Police and Fire Retirement
 System.

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