Authorizes the reopening of the twenty-five year retirement benefit plan to certain deputy sheriffs of Sullivan county who failed to make a timely election thereof.
Sponsor: BONACIC
Law Section: Retirement
Sponsor: BONACIC
Law Section: Retirement
S6780-2011 Actions
- Jun 21, 2012: SUBSTITUTED BY A9566
- Jun 6, 2012: ADVANCED TO THIRD READING
- Jun 5, 2012: 2ND REPORT CAL.
- Jun 4, 2012: 1ST REPORT CAL.1007
- Mar 21, 2012: REFERRED TO CIVIL SERVICE AND PENSIONS
S6780-2011 Meetings
Civil Service and Pensions: Jun 4, 2012S6780-2011 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, 2012S6780-2011 Votes
VOTE: COMMITTEE VOTE:
- Civil Service and Pensions
- Jun 4, 2012
Ayes (12): Golden, Fuschillo, Hannon, Lanza, Little, Martins, O'Mara, Perkins, Addabbo, Dilan, Savino, Serrano
S6780-2011 Memo
BILL NUMBER:S6780 TITLE OF BILL: An act relating to authorizing the reopening of the twenty-five year retirement benefit plan to certain deputy sheriffs of Sullivan county who failed to make a timely election thereof PURPOSE: Authorizes the reopening of the twenty-five year retirement benefit plan to three deputy sheriffs of Sullivan county who failed to make a timely election thereof due to a clerical error on the part of the county. SUMMARY OF PROVISIONS: Deputy sheriffs of Sullivan County, Scott Galligan, Sean Grady and Rose Ionta-Tocco, who were eligible to elect to participate in the twenty-five year retirement benefit plan established pursuant to section 89-p, and subdivision 1 of section 603 of the retirement and social security law, and who failed to elect to participate in the plan in a timely manner for reasons not ascribable to his or her own negligence shall be deemed to have timely made such election. JUSTIFICATION: These three Deputy Sheriffs failed to elect to participate in the 25 year retirement benefit plan in a timely manner for reasons not ascribable to their own negligence. LEGISLATIVE HISTORY: This is a new bill. FISCAL IMPLICATIONS: The increase in the annual contributions for Sullivan County will be approximately $4,500. In addition, the immediate past service cost will be approximately $7,650 which will be borne by Sullivan County. EFFECTIVE DATE: This act shall take effect immediately.
S6780-2011 Text
S T A T E O F N E W Y O R K
6780 I N SENATE March 21, 2012
Introduced by Sen. BONACIC -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions
AN ACT relating to authorizing the reopening of the twenty-five year retirement benefit plan to certain deputy sheriffs of Sullivan county who failed to make a timely election thereof 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, deputy sheriffs of Sullivan county, Scott Galligan, Sean Grady and Rose Ionta-Tocco, who were eligible to elect to participate in the twenty five year retirement benefit plan established pursuant to article 14-B of the retirement and social security law, and who failed to elect to participate in such retirement benefit plan in a timely manner for reasons not ascribable to their own negligence, shall be deemed to have timely made such election if each such deputy sheriff, respectively, shall file an election to participate in the twenty-five year retirement benefit plan with the state comptroller on or before December 31, 2012.
S 2. The past service costs of implementing the provisions of this act shall be borne by the county of Sullivan.
S 3. This act shall take effect immediately. Fiscal Note.--Pursuant to Legislative Law,
Section 50:
This bill would allow Sullivan County to reopen the provisions of the twenty-five year retirement plan established pursuant to article 14-B of the Retirement and Social Security Law for Scott Galligan, Sean Grady and Rose Ionta-Tocco. If this legislation is enacted during the 2012 legislative session, we anticipate that there would be an increase of approximately $4,500 in the annual contributions of Sullivan County for the fiscal year ending March 31, 2013. In addition to the annual contributions discussed above, there would be an immediate past service cost of approximately $7,650, which would be borne by Sullivan County as a one-time payment. This estimate is based on the assumption that payment would be made on February 1, 2013. Summary of relevant resources:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14819-02-2
S. 6780 2 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 8, 2012, and intended for use only during the 2012 Legislative Session, is Fiscal Note No. 2012-108, prepared by the Actuary for the New York State and Local Employees' Retirement System.
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