Assembly Bill A11165

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

                                  11165

                          I N  A S S E M B L Y

                              May 21, 2010
                               ___________

Introduced  by M. of A. CALHOUN -- read once and referred to the Commit-
  tee on Governmental Employees

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.
  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

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

                                                           LBD16451-02-0

A. 11165                            2

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.