S T A T E O F N E W Y O R K
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7146
2009-2010 Regular Sessions
I N A S S E M B L Y
March 25, 2009
___________
Introduced by M. of A. BRODSKY -- read once and referred to the Commit-
tee on Governmental Employees
AN ACT to authorize the village of Hastings-on-Hudson 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 Hastings-on-Hudson, 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 available 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, 2009, 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 request to that effect with the state comp-
troller on or before June 30, 2010.
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.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09732-02-9
A. 7146 2
S 3. This act shall take effect immediately.
FISCAL NOTE.-- 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 $12,200 in the annual contributions of the Village of Hastings-
on-Hudson for the fiscal year ending March 31, 2010.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $320,000 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, 2010. If this
cost were amortized over a period of ten (10) years, the costs for the
first year including interest would be approximately $44,100.
This estimate, dated January 6, 2009 and intended for use only during
the 2009 Legislative Session, is Fiscal Note No. 2009-72, prepared by
the Actuary for the New York State and Local Police and Fire Retirement
System.