senate Bill S5753

Signed by Governor

Authorizes the village of Menands in the county of Albany to offer an optional twenty year retirement plan to police officer Aaron St. Gelais

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Sponsor

Bill Status


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

actions

  • 12 / Jun / 2013
    • REFERRED TO CIVIL SERVICE AND PENSIONS
  • 18 / Jun / 2013
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 18 / Jun / 2013
    • ORDERED TO THIRD READING CAL.1466
  • 18 / Jun / 2013
    • HOME RULE REQUEST
  • 18 / Jun / 2013
    • PASSED SENATE
  • 18 / Jun / 2013
    • DELIVERED TO ASSEMBLY
  • 18 / Jun / 2013
    • REFERRED TO WAYS AND MEANS
  • 20 / Jun / 2013
    • SUBSTITUTED FOR A7940
  • 20 / Jun / 2013
    • ORDERED TO THIRD READING RULES CAL.563
  • 20 / Jun / 2013
    • HOME RULE REQUEST
  • 20 / Jun / 2013
    • PASSED ASSEMBLY
  • 20 / Jun / 2013
    • RETURNED TO SENATE
  • 19 / Jul / 2013
    • DELIVERED TO GOVERNOR
  • 31 / Jul / 2013
    • SIGNED CHAP.303

Summary

Authorizes the village of Menands in the county of Albany to offer an optional twenty year retirement plan to police officer Aaron St. Gelais.

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Bill Details

See Assembly Version of this Bill:
A7940
Versions:
S5753
Legislative Cycle:
2013-2014
Law Section:
Retirement

Sponsor Memo

BILL NUMBER:S5753

TITLE OF BILL: An act to authorize the village of Menands, in the
county of Albany to offer an optional twenty year retirement plan to
police officer Aaron St. Gelais

PURPOSE OR GENERAL IDEA OF BILL: To correct the retirement plan of a
police officer in the Village of Menands from 375-i to 384-d and offer
the municipality the opportunity to do so.

SUMMARY OF PROVISIONS:

Section 1: Offering a Police Officer of the Village of Menands, that
was placed in the wrong police and fire retirement plan, an
opportunity to opt into the correct plan that the Village of Menands
has a contract with.

Section 2: All costs associated with the plan change will be borne by
the Village of Menands with no cost to the State of NY.

Section 3: Effective date

JUSTIFICATION: Village of Menands Police Officer Aaron St. Gelais was
opted into the wrong police and fire retirement plan. This legislation
is to offer the Village of Menands the opportunity to correct this
mistake and place him in the correct plan. The Village of Menands has
agreed that they will bear all costs associated with the plan change
and there will be no cost to the state nor will there be financial
benefit to the officer.

LEGISLATIVE HISTORY: New bill

FISCAL IMPLICATIONS: None to the State of New York

EFFECTIVE DATE: Immediately

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

                                  5753

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              June 12, 2013
                               ___________

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

AN ACT to authorize the village of Menands, in the county of  Albany  to
  offer  an optional twenty year retirement plan to police officer Aaron
  St. Gelais

  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 village of Menands, in the county of Albany, a participating employ-
er  in  the  New York state and local police and fire retirement system,
which previously elected to offer the optional  twenty  year  retirement
plan, established pursuant to section 384-d of the retirement and social
security  law,  to  police  officers  employed  by  such town, is hereby
authorized to make participation in such plan  available  to  Aaron  St.
Gelais, a police officer employed by the village of Menands with a start
date  of  October  2,  2010,  who, for reasons not ascribable to his own
negligence, failed to make a timely application to participate  in  such
optional  twenty  year  retirement  plan.  The village of Menands may so
elect by filing with the state comptroller, on or  before  December  31,
2013,  a  resolution  of its town board together with certification that
such police officer did not  bar  himself  from  participation  in  such
retirement  plan  as  a  result  of his own negligence. Thereafter, such
police officer may elect to be covered  by  the  provisions  of  section
384-d  of  the retirement and social security law, and shall be entitled
to the full rights and benefits  associated  with  coverage  under  such
section,  by  filing a request to that effect with the state comptroller
on or before June 30, 2014.
  S 2. All past costs associated with  implementing  the  provisions  of
this act shall be borne by the village of Menands.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Section 50 of the Legislative Law:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11262-02-3

S. 5753                             2

  This  bill  will  allow  the village of Menands to elect to reopen the
provisions of Section 384-d of the Retirement and  Social  Security  Law
for police officer Aaron St. Gelais.
  If  this  bill  is  enacted and Aaron St. Gelais becomes covered under
Section 384-d, we anticipate that there will be an increase of  approxi-
mately  $5,200 in the annual contributions of the village of Menands for
the fiscal year ending March 31, 2014.
  There will be no past service cost.
  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 June 7, 2013 and intended for use only during the
2013 Legislative Session, is Fiscal Note No. 2013-159, prepared  by  the
Actuary  for  the  New  York  State and Local Police and Fire Retirement
System.

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