Authorize Paul Liberatore to apply for retroactive membership in the New York state and local police and fire retirement system.

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S6566-2011 Actions

• Jun 21, 2012: SUBSTITUTED BY A9432
• Jun 6, 2012: ADVANCED TO THIRD READING
• Jun 5, 2012: 2ND REPORT CAL.
• Jun 4, 2012: 1ST REPORT CAL.1005
• Feb 28, 2012: REFERRED TO CIVIL SERVICE AND PENSIONS

S6566-2011 Meetings

Civil Service and Pensions: Jun 4, 2012

S6566-2011 Calendars

Active List: Jun 21, 2012 , Floor Calendar: Jun 5, 2012 , Floor Calendar: Jun 6, 2012 , Floor Calendar: Jun 11, 2012 , Floor Calendar: Jun 12, 2012 , Floor Calendar: Jun 13, 2012 , Floor Calendar: Jun 14, 2012 , Floor Calendar: Jun 18, 2012 , Floor Calendar: Jun 19, 2012 , Floor Calendar: Jun 20, 2012 , Floor Calendar: Jun 21, 2012

S6566-2011 Votes

S6566-2011 Memo

BILL NUMBER:S6566

TITLE OF BILL:
An act
to authorize Paul Liberatore to apply for retroactive membership in the
New York state and local police and fire retirement system

PURPOSE OR GENERAL IDEA OF BILL:
To allow a fire fighter employed by the Hartsdale fire district to
enroll in the optional twenty-year retirement plan.

SUMMARY OF SPECIFIC PROVISIONS:
Section 1 of the bill authorizes the Hartsdale fire district to offer
retroactive membership in the optional twenty-year retirement plan to
Paul Liberatore, a fire fighter in the Hartsdale fire district.

Section 2 of the bill specifies that past service costs incurred by
membership authorized by this legislation shall be borne by the
Hartsdale Fire District.

Section 3 of the bill is the effective date.

JUSTIFICATION:
For reasons not ascribable to his own negligence, Hartsdale fire
district fire fighter Paul Liberatore failed to make a timely
application to participate in the optional twenty-year retirement
system.

PRIOR LEGISLATIVE HISTORY:
New Bill - 2012

FISCAL IMPLICATIONS:
None to the State.

EFFECTIVE DATE:
This act shall take effect immediately.

S6566-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                    6566

                              I N  SENATE

                              February 28, 2012
                                 ___________

  Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
    and when printed to be committed to the Committee on Civil Service and
    Pensions

  AN ACT to authorize Paul Liberatore to apply for retroactive  membership
    in the New York state and local police and fire retirement system

    THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section 1. Notwithstanding any inconsistent provision of law, the fire
  district of Hartsdale in the town of Greenburgh, county of  Westchester,
  a participating employer in the New York state and local police and fire
  retirement  system,  which has elected to offer the optional twenty year
  retirement plan, established pursuant to section 384-d of the retirement
  and social security law, and the additional pension benefits to  members
  of  such  plan,  established pursuant to section 384-e of the retirement
  and social security law, to firefighters employed by such town, is here-
  by authorized to make retroactive membership in such plan  available  to
  Paul  Liberatore,  a  firefighter  with  the  Hartsdale  fire  district,
  employed by the Hartsdale fire district, who, for reasons not ascribable
  to his own negligence failed to make a timely application to participate
  in such optional twenty year retirement plan and the additional  pension
  benefits  therefor.  The  Hartsdale fire district may so elect by filing
  with the state comptroller, on or before December 31, 2012, a resolution
  of its governing body together with certification that such  firefighter
  did  not  bar  himself  from  participation in such retirement plan as a
  result of his own negligence. Thereafter, such firefighter may elect  to
  be  covered by the provisions of sections 384-d and 384-e of the retire-
  ment and social security law, and shall be entitled to the  full  rights
  and  benefits  associated with coverage under such sections, by filing a
  request to that effect with the state comptroller on or before June  30,
  2013.
    S  2. Any past service costs incurred by operation of the provision of
  this act shall be borne by the Hartsdale fire district.
    S 3. This act shall take effect immediately.
    FISCAL NOTE.--Pursuant to Legislative Law, Section 50:


   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD14267-02-2

 S. 6566                             2

    This bill will allow the Hartsdale Fire District to  elect  to  reopen
  the  provisions  of  Section  384-d  together  with Section 384-e of the
  Retirement and Social Security Law for firefighter Paul Liberatore.
    If  this  bill  is  enacted,  and  firefighter Paul Liberatore becomes
  covered under Section 384-d together with Section 384-e,  we  anticipate
  that  there  will  be an increase of approximately $12,300 in the annual
  contributions of the Hartsdale Fire District 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 $51,700 which would be
  borne by the Hartsdale Fire District. 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 February 17,  2012  and  intended  for  use  only
  during  the  2012  Legislative  Session,  is  Fiscal  Note  No. 2012-86,
  prepared by the Actuary for the New York State and Local Police and Fire
  Retirement System.