senate Bill S3422A

Authorizes the town of East Greenbush, Rensselaer county, to make the retirement incentive offered pursuant to chapter 105 of 2010 available to Richard C. Bender

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 22 / Feb / 2011
    • REFERRED TO CIVIL SERVICE AND PENSIONS
  • 11 / Mar / 2011
    • AMEND (T) AND RECOMMIT TO CIVIL SERVICE AND PENSIONS
  • 11 / Mar / 2011
    • PRINT NUMBER 3422A
  • 04 / Jan / 2012
    • REFERRED TO CIVIL SERVICE AND PENSIONS

Summary

Authorizes the town of East Greenbush, Rensselaer county, to make the retirement incentive offered pursuant to chapter 105 of 2010 available to Richard C. Bender.

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Bill Details

See Assembly Version of this Bill:
A6340
Versions:
S3422
S3422A
Legislative Cycle:
2011-2012
Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement

Sponsor Memo

BILL NUMBER:S3422A

TITLE OF BILL:
An act
authorizing the town of East Greenbush, in the county of Rensselaer, to
make retired employee Richard C. Bender eligible for the retirement
incentive offered by chapter 105 of the laws of 2010

PURPOSE:
Authorizes the Town of East Greenbush, a participating employer in the
New York State and local police and fire department system, which
previously elected to offer the temporary retirement incentive, to
make participation in such plan available to Richard C. Bender, by
changing his effective date of retirement from August 13, 2010, to
October 1, 2010.

SUMMARY OF PROVISIONS:
Section 1 authorizes the Town of East Greenbush, in the county of
Rensselaer, a participating employer in the New York State and local
police and fire department system, which previously elected to offer
the temporary retirement incentive, established pursuant to chapter
105 of the laws of 2010, to make participation in such plan available
to Richard C.
Bender, by changing the effective date of retirement from August 13,
2010, to October 1, 2010.

Section 2 specifies that all employer costs associated with
implementing the provisions of this act shall be borne by the Town of
East Greenbush, and may be amortized over a period often years.

Section 3 provides for an immediate effective date.

JUSTIFICATION:
Richard C. Bender, for reasons not ascribable to his own negligence,
failed to retire under the 90 day window offered by the Town of East
Greenbush pursuant to chapter 105 of the laws of 2010.

LOCAL FISCAL IMPLICATIONS:
There will be an estimated, immediate past service cost of $160,000,
which will be borne by the Town of East Greenbush as a one-time
payment, assuming payment on February 1, 2012. The interest cost
would be approximately $21,700.

EFFECTIVE DATE:
Effective immediately.

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

                                 3422--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 22, 2011
                               ___________

Introduced  by Sen. McDONALD -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions
  -- committee discharged, bill amended, ordered  reprinted  as  amended
  and recommitted to said committee

AN  ACT authorizing the town of East Greenbush, in the county of Rensse-
  laer, to make retired employee Richard  C.  Bender  eligible  for  the
  retirement incentive offered by chapter 105 of the laws of 2010

  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 employees'  retirement  system,
which previously elected to offer the temporary retirement incentive for
certain  public  employees,  established  pursuant to chapter 105 of the
laws of 2010, is hereby authorized to make such plan available to  Rich-
ard C. Bender, who was employed by the town of East Greenbush from Octo-
ber 3, 1980 and who retired from the New York state and local employees'
retirement  system  effective  August  13, 2010, and who for reasons not
ascribable to his own negligence, failed to retire under the ninety  day
retirement incentive window offered by the town of East Greenbush pursu-
ant to chapter 105 of the laws of 2010 and to allow Richard C. Bender to
change  the  date  of his retirement to October 1, 2010 if he shall file
such request with the state comptroller by December 31, 2011.
  S 2. All past service costs associated with the implementation of  the
provisions  of this act shall be borne by the town of East Greenbush and
may be amortized over a period of ten years.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill would allow Richard C. Bender, a retiree  of  the  New  York
State  and  Local  Employees'  Retirement  System, to change his date of
retirement to October 1, 2010 to be within the 90 day retirement  incen-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08663-02-1

S. 3422--A                          2

tive  window  offered  by  the Town of East Greenbush for the retirement
benefits under the provisions of Chapter 105 of the laws  of  2010.  Mr.
Bender  must  file  a request with the state comptroller by December 31,
2011.
  If  this bill is enacted and Richard C. Bender receives the retirement
incentive, there will be an immediate past service cost of approximately
$160,000 which will 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 this cost is amortized over a ten year
period, the cost for the first year, including interest would be approx-
imately $21,700.
  This estimate, dated March 4, 2011 and intended for  use  only  during
the  2011  Legislative Session, is Fiscal Note No. 2011-126, prepared by
the Actuary for the New  York  State  and  Local  Employees'  Retirement
System.

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