Bill S5612-2013

Grants Stephen P. Cronin past service credit in the optional twenty year retirement plan for certain firemen and policemen

Grants Stephen P. Cronin past service credit in the optional twenty year retirement plan for certain members of the New York state and local police and fire retirement system.

Details

Actions

  • Jul 31, 2013: SIGNED CHAP.308
  • Jul 19, 2013: DELIVERED TO GOVERNOR
  • Jun 20, 2013: returned to senate
  • Jun 20, 2013: passed assembly
  • Jun 20, 2013: home rule request
  • Jun 20, 2013: ordered to third reading rules cal.605
  • Jun 20, 2013: substituted for a7694
  • Jun 13, 2013: referred to ways and means
  • Jun 13, 2013: DELIVERED TO ASSEMBLY
  • Jun 13, 2013: PASSED SENATE
  • Jun 13, 2013: HOME RULE REQUEST
  • Jun 5, 2013: ADVANCED TO THIRD READING
  • Jun 4, 2013: 2ND REPORT CAL.
  • Jun 3, 2013: 1ST REPORT CAL.946
  • May 28, 2013: REFERRED TO CIVIL SERVICE AND PENSIONS

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Civil Service and Pensions - Jun 3, 2013
Ayes (9): Golden, Fuschillo, Hannon, Martins, Ritchie, Savino, Sanders, Addabbo, Perkins
Ayes W/R (2): Lanza, Dilan

Memo

BILL NUMBER:S5612

TITLE OF BILL: An act in relation to granting Stephen P. Cronin past service credit in the optional twenty year retirement plan for certain firemen and policemen

PURPOSE:

To authorize police officer Stephen P. Cronin to receive his retirement service credit for the time period from June 7, 1993 through July 31, 1994 for his employment with the village of Watkins Glen and for his employment with the office of parks, recreation and historic preservation for the time period of April 1, 1994 through August 28, 1994 if on or before December 31, 2013 he shall file a written request to that effect with the state comptroller.

SUMMARY OF PROVISIONS:

The bill allows current City of Elmira Police Department officer Stephen P. Cronin to receive retirement service credit from his time as a police officer with the village of Watkins Glen, which, for reasons not ascribable to his own negligence, he did not receive credit toward his optional 20 year retirement plan. Receipt of the credit is contingent upon written request to the state comptroller by December 31, 2013.

EXISTING LAW:

None.

JUSTIFICATION:

To award officer Stephen P. Cronin the retirement credit he earned from his prior service with the village of Watkins Glen.

LEGISLATIVE HISTORY:

None.

FISCAL IMPLICATIONS:

None.

EFFECTIVE DATE:

This act shall take effect Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 5612 2013-2014 Regular Sessions IN SENATE May 28, 2013 ___________
Introduced by Sen. O'MARA -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT in relation to granting Stephen P. Cronin past service credit in the optional twenty year retirement plan for certain firemen and policemen 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, Stephen P. Cronin, a member of the New York state and local police and fire retire- ment system under section 384-d of the retirement and social security law, who, for the period beginning June 7, 1993 and ending July 31, 1994, was employed by the village of Watkins Glen, county of Schuyler, and who, for the periods beginning April 1, 1993 and ending October 10, 1993 and beginning April 1, 1994 and ending August 28, 1994, was employed by the office of parks, recreation and historic preservation, and who, for the period beginning August 4, 1994 and ending May 31, 1998, was employed by the village of Horseheads, county of Chemung, and who, for the period beginning June 1, 1998 has been employed by the city of Elmira, county of Chemung, and who, for reasons not ascribable to his own negligence, was not granted service credit under section 384-d of the retirement and social security law for his period of employment with: (a) the village of Watkins Glen, county of Schuyler; or (b) the office of parks, recreation and historic preservation, shall be granted such service credit under section 384-d of the retirement and social security law for his employment with: (a) the village of Watkins Glen, county of Schuyler for the period beginning June 7, 1993 and ending July 31, 1994; and (b) the office of parks, recreation and historic preserva- tion for the periods beginning April 1, 1993 and ending October 10, 1993 and beginning April 1, 1994 and ending August 28, 1994, if on or before December 31, 2013 he shall file a written request to that effect with the state comptroller.
S 2. No contributions made to the New York state and local police and fire retirement system by Stephen P. Cronin shall be returned to him pursuant to this act. S 3. All past service costs of implementing the provisions of this act shall be borne by the village of Watkins Glen, county of Schuyler and the state of New York in proportion to the additional service credit granted under this legislation. S 4. This act shall take effect immediately. FISCAL NOTE.--This bill will allow Police Officer Stephen P. Cronin, currently employed by the City of Elmira, to receive retirement credit under the 20 year retirement plan pursuant to section 384-d of the Retirement and Social Security Law for service he rendered as a police officer with the Village of Watkins Glen and the Office of Parks, Recre- ation and Historic Preservation. The past service costs are to be paid by the Village of Watkins Glen and New York State in proportion to the amount of additional service credit granted under this legislation. If this bill is enacted, we anticipate that there will be immediate past service costs of approximately $16,700 which will be borne by the Village of Watkins Glen, assuming a payment date of February 1, 2014, and $21,000 which will be borne by the State of New York, assuming a March 1, 2014 payment date. Summary of relevant resources: Data: March 31, 2012 Actuarial Year End File with distributions of membership and other statistics displayed in the 2012 Report of the Actuary and 2012 Comprehensive Annual Financial Report. Assumptions and Methods: 2010, 2011 and 2012 Annual Report to the Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the State of New York: Audit and Control. Market Assets and GASB Disclosures: March 31, 2012 New York State and Local Retirement System Financial Statements and Supplementary Informa- tion. Valuations of Benefit Liabilities and Actuarial Assets: summarized in the 2012 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 May 21, 2013 and intended for use only during the 2013 Legislative Session, is Fiscal Note No. 2013-154, prepared by the Actuary for the New York State and Local Police and Fire Retirement System.

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