Senate Bill S3736

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

                                 3736--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 30, 2009
                               ___________

Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
  and when printed to be committed to the Committee on Civil Service and
  Pensions -- recommitted to the Committee on Civil Service and Pensions
  in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT to authorize the village of Hastings-on-Hudson, in the county of
  Westchester, to offer an  optional  twenty  year  retirement  plan  to
  police officers John DeBlasio, David Dosin and Anthony Gentile

  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 Hastings-on-Hudson,  in  the  county  of  Westchester,  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
village, is hereby authorized to make participation in such plan  avail-
able  to John DeBlasio, David Dosin and Anthony Gentile, police officers
employed by the village of  Hastings-on-Hudson,  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
village  of  Hastings-on-Hudson  may  so  elect by filing with the state
comptroller, on or before December 31, 2010, a resolution of  its  local
legislative  body  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,  by filing a

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10836-02-0

              

S. 3736--A                          2

request to that effect with the state comptroller on or before June  30,
2011.
  S 2. All employer costs associated with implementing the provisions of
this  act  shall  be  borne by the village of Hastings-on-Hudson and the
past service costs associated with this act may be  paid  in  ten  equal
annual installments.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill  will  allow  the Village of Hastings-on-Hudson to elect to
reopen the provisions of Section 384-d  of  the  Retirement  and  Social
Security  Law for police officers John DeBlasio, David Dosin and Anthony
Gentile.
  If this bill is enacted,  and  these  officers  become  covered  under
Section  384-d, we anticipate that there will be an increase of approxi-
mately $15,400 in the annual contributions of the Village  of  Hastings-
on-Hudson for the fiscal year ending March 31, 2011.
  In addition to the annual contributions discussed above, there will be
an  immediate past service cost of approximately $298,000 which would be
borne by the Village of Hastings-on-Hudson. This estimate  is  based  on
the  assumption  that  payment will be made on February 1, 2011. If this
cost were amortized over a period of ten (10) years, the costs  for  the
first year including interest would be approximately $41,200.
  This estimate, dated December 4, 2009 and intended for use only during
the 2010 Legislative Session, is Fiscal Note No. 2010-7, prepared by the
Actuary  for  the  New  York  State and Local Police and Fire Retirement
System.