Senate Bill S4194

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

                                 4194--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 16, 2009
                               ___________

Introduced  by Sen. NOZZOLIO -- 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 Lyons to offer an optional twenty
  year retirement plan to  certain  police  officers  employed  by  such
  village

  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 Lyons, 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 offi-
cers employed by such village, is  hereby  authorized  to  make  partic-
ipation  in such plan available to John Flock and Scott VanDuyne, police
officers employed by the village of Lyons, who, for reasons not ascriba-
ble to their own negligence, failed to  make  a  timely  application  to
participate in such optional twenty year retirement plan. The village of
Lyons  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 negli-
gence. 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 request to that effect with the
state comptroller on or before June 30, 2011.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10914-05-0

              

S. 4194--A                          2

  S 2. All employer costs associated with implementing the provisions of
this  act  shall  be  borne by the village of Lyons and the past service
costs associated with this act may be amortized over a period of five or
ten years.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill will allow the Village of Lyons to reopen the provisions of
Section 384-d of the Retirement and Social Security Law for police offi-
cers John J. Flock and Scott W. VanDuyne.
  If this legislation is enacted during the 2010 legislative session, we
anticipate that there will be an increase of approximately $2,800 in the
annual contributions of the Village of Lyons 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 $43,000, which would be
borne by the Village of Lyons as a one-time payment, assuming a  payment
date of February 1, 2011. If the Village so elects, the past service can
be  amortized  over a period of five (5) or ten (10) years. The cost for
the first year will be approximately $9,980 or $5,940, respectively.
  This estimate, dated April 16, 2010 and intended for use  only  during
the  2010  Legislative Session, is Fiscal Note No. 2010-138, prepared by
the Actuary for the New York State and Local Police and Fire  Retirement
System.