Senate Bill S7182

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

                                 7182--A

                            I N  S E N A T E

                             March 19, 2010
                               ___________

Introduced  by  Sen.  LARKIN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions
  -- committee discharged, bill amended, ordered  reprinted  as  amended
  and recommitted to said committee

AN  ACT to authorize the village of Cornwall-on-Hudson, in the county of
  Orange, to offer an optional twenty year retirement  plan  to  certain
  police officers

  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 Cornwall-on-Hudson, in the county of  Orange,  a  partic-
ipating employer in the New York state and local police and fire retire-
ment  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 available to Patri-
cia Willard, Jill Nye, Seth Armstrong and Michael Lug,  police  officers
employed  by  the  village  of  Cornwall-on-Hudson, who, for reasons not
ascribable to their own negligence failed to make timely applications to
participate in such optional twenty year retirement plan.
  The village of Cornwall-on-Hudson may so  elect  by  filing  with  the
state  comptroller,  on or before December 31, 2010, a resolution of its
governing 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
request to that effect with the state comptroller on or before June  30,
2011.
  S   2.  All  past  service  costs  associated  with  implementing  the
provisions of this act shall be borne by the village of Cornwall-on-Hud-
son over a period of ten years.
  S 3. This act shall take effect immediately.

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

                                                           LBD16451-03-0

S. 7182--A                          2

  FISCAL NOTE.--This bill will allow the Village  of  Cornwall-on-Hudson
to elect to reopen the provisions of Section 384-d of the Retirement and
Social  Security  Law  for Police Officers Seth T. Armstrong, Michael G.
Lug, Jill L. Nye, and Patricia Willard.
  If  this  bill  is enacted and the above officers become covered under
Section 384-d, we anticipate that there will be an increase of  approxi-
mately $2,300 in the annual contributions of the Village of Cornwall-on-
Hudson for the fiscal year ending March 31, 2011.
  In  addition  to  the  contributions discussed above, there will be an
immediate past service cost of approximately $81,700,  assuming  payment
will  be  made  on  February 1, 2011. The Village may amortize this cost
over a period of ten (10) years. The first year cost,  including  inter-
est, will be approximately $11,300.
  This estimate, dated May 20, 2010 and intended for use only during the
2010  Legislative  Session, is Fiscal Note No. 2010-167, prepared by the
Actuary for the New York State and  Local  Police  and  Fire  Retirement
System.