S T A T E O F N E W Y O R K
I N S E N A T E
March 31, 2014
Introduced by Sen. LARKIN -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
AN ACT to authorize the town of Marlborough, in the county of Ulster, to
offer an optional twenty year retirement plan to police officers
Charles Hoffman and Arthur Terwilliger
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 Marlborough, in the county of Ulster, a participating
employer 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
Charles Hoffman and Arthur S. Terwilliger, police officers employed by
the town of Marlborough, who, for reasons not ascribable to their own
negligence failed to make a timely application to participate in such
optional twenty year retirement plan. The town of Marlborough may so
elect by filing with the state comptroller, on or before December 31,
2014, a resolution of the town board together with certification that
such police officers did not bar themselves from participation in such
retirement plan as a result of their own negligence. Thereafter, such
police officers 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 while so employed, by filing a request to that effect with the
state comptroller on or before June 30, 2015.
S 2. All past service costs associated with implementing the
provisions of this act shall be borne by the town of Marlborough.
S 3. This act shall take effect immediately.
FISCAL NOTE.-- This bill would allow the Town of Marlborough to elect
to reopen the provisions of Section 384-d of the Retirement and Social
Security Law for police officers Charles Hoffman and Arthur S. Terwilli-
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 6915 2
If this bill is enacted and police officers Charles Hoffman and Arthur
S. Terwilliger become covered under Section 384-d, we anticipate that
there will be an increase of approximately $5,300 in the annual contrib-
utions of the Town of Marlborough for the fiscal year ending March 31,
2015. In future years, this cost will vary as the billing rates and
salaries of these officers change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $79,800 which would be
borne by the Town of Marlborough. This estimate is based on the assump-
tion that payment will be made on February 1, 2015.
Summary of relevant resources:
The membership data used in measuring the impact of the proposed
change was the same as that used in the March 31, 2013 actuarial valu-
ation. Distributions and other statistics can be found in the 2013
Report of the Actuary and the 2013 Comprehensive Annual Financial
The actuarial assumptions and methods used are described in the 2010,
2011, 2012 and 2013 Annual Report to the Comptroller on Actuarial
Assumptions, and the Codes Rules and Regulations of the State of New
York: Audit and Control.
The Market Assets and GASB Disclosures are found in the March 31, 2013
New York State and Local Retirement System Financial Statements and
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 27, 2014 and intended for use only
during the 2014 Legislative Session, is Fiscal Note No. 2014-89,
prepared by the Actuary for the New York State and Local Police and Fire