senate Bill S6780

Authorizes the reopening of the twenty-five year retirement benefit plan to certain deputy sheriffs of Sullivan county

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Bill Status


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

  • 21 / Mar / 2012
    • REFERRED TO CIVIL SERVICE AND PENSIONS
  • 04 / Jun / 2012
    • 1ST REPORT CAL.1007
  • 05 / Jun / 2012
    • 2ND REPORT CAL.
  • 06 / Jun / 2012
    • ADVANCED TO THIRD READING
  • 21 / Jun / 2012
    • SUBSTITUTED BY A9566

Summary

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.

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Bill Details

See Assembly Version of this Bill:
A9566
Versions:
S6780
Legislative Cycle:
2011-2012
Law Section:
Retirement

Votes

12
0
12
Aye
0
Nay
0
aye with reservations
0
absent
0
excused
0
abstained
show Civil Service and Pensions committee vote details

Sponsor 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.

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

                                  6780

                            I N  S E N A T E

                             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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