S T A T E   O F   N E W   Y O R K
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    S. 3768                                                  A. 7334

                       2009-2010 Regular Sessions

                      S E N A T E - A S S E M B L Y

                             March 31, 2009
                               ___________

IN SENATE -- Introduced by Sens. SAVINO, ADAMS -- read twice and ordered
  printed,  and  when  printed to be committed to the Committee on Civil
  Service and Pensions

IN ASSEMBLY -- Introduced by M. of A. ABBATE, PHEFFER -- Multi-Sponsored
  by -- M. of A. SALADINO -- read once and referred to the Committee  on
  Governmental Employees

AN  ACT  to  amend  the  administrative code of the city of New York, in
  relation to allowing members of the police  department  to  remain  in
  service until age 65

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 14-124 of the administrative code of  the  city  of
New York is amended to read as follows:
  S  14-124 Termination of service of members of force because of super-
annuation. No member of the  police  force  in  the  department,  except
surgeons  of  police,  a  roentgenologist  and a veterinarian, who is or
hereafter attains  the  age  of  [sixty-three]  SIXTY-FIVE  years  shall
continue  to  serve  as  a member of such force but shall be retired and
placed on the pension rolls of the department, provided,  however,  that
any  member  who  is  not  eligible  for retirement at age [sixty-three]
SIXTY-FIVE shall continue to serve as a member only until such  time  as
he  or  she  becomes  eligible  for  such  pension  service retirement[,
provided further that any member participating in  the  social  security
program  may  elect to remain in the department but only until such time
as he or she has earned the  minimum  number  of  quarters  of  coverage
required  to  assure  future  eligibility for social security retirement
benefits, but in no event beyond sixty-five years of age].
  Notwithstanding the provisions of this section or of any other section
of law, any member who shall not have  completed  thirty-five  years  of
creditable  city  service within the meaning of subdivision j of section

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10724-02-9
              

S. 3768                             2                            A. 7334

13-206, prior to attaining the age of sixty-three years may continue  to
serve  as a member until he or she shall have completed such thirty-five
years of creditable city service.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  FINANCIAL  IMPACT  -  ADDITIONAL  ANNUAL  EMPLOYER COSTS: Based on the
additional actuarial assumptions described under the  ACTUARIAL  ASSUMP-
TIONS  AND  METHODS Section, enactment of the proposed legislation would
be expected to decrease annual  employer  costs  by  approximately  $0.5
million per year.
  FINANCIAL IMPACT - ADDITIONAL ANNUAL EMPLOYER CONTRIBUTIONS: Under the
current actuarial assumptions and methods, that would not be expected to
change until the Actuary does a full review of all actuarial assumptions
and  methods, enactment of the proposed legislation would have no impact
on employer contributions for Fiscal Year 2010.
  STATEMENT OF ACTUARIAL OPINION: I, Robert C. North, Jr., am the  Chief
Actuary  for  the New York City Retirement Systems. I am a Fellow of the
Society of Actuaries and a Member of the American Academy of  Actuaries.
I  meet the Qualification Standards of the American Academy of Actuaries
to render the actuarial opinion contained herein.
  FISCAL NOTE IDENTIFICATION: This estimate is  intended  for  use  only
during  the  2009  Legislative Session. It is Fiscal Note 2009-07, dated
March 27, 2009, prepared by the Chief Actuary  for  the  New  York  City
Police Pension Fund.