S T A T E   O F   N E W   Y O R K
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    S. 4972                                                  A. 7858

                       2009-2010 Regular Sessions

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

                             April 27, 2009
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Civil Service
  and Pensions

IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
  to the Committee on Governmental Employees

AN ACT to authorize the village  of  East  Hampton,  in  the  county  of
  Suffolk,  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 East Hampton, in the county of Suffolk, 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
certain  police  officers  employed by the village of East Hampton, who,
for reasons not ascribable to their own  negligence  failed  to  make  a
timely  application  to participate in such optional twenty year retire-
ment plan. The village of East Hampton may so elect by filing  with  the
state  comptroller,  on or before December 31, 2009, a resolution of its
board of trustees 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,
2010.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11050-02-9
              

S. 4972                             2                            A. 7858

  S 2. All employer costs associated with implementing the provisions of
this act shall be borne by the village of East Hampton over a period  of
five years.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill  will  allow the Village of East Hampton to elect to reopen
the provisions of Section 384-d of the Retirement  and  Social  Security
Law for all police officers in its employ.
  If this bill is enacted, and all three eligible police officers become
covered  under  Section  384-d,  we  anticipate  that  there  will be an
increase of approximately $6,000 in  the  annual  contributions  of  the
Village of East Hampton 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 $80,100 which would be
borne by the Village of East Hampton as a one time payment.  This  esti-
mate is based on the assumption that payment will be made on February 1,
2010.  If  the  Village so elects, this cost may be paid, with interest,
over a period of five (5) years, with an annual payment of approximately
$18,600.
  This estimate, dated April 10, 2009 and intended for use  only  during
the  2009  Legislative Session, is Fiscal Note No. 2009-215, prepared by
the Actuary for the New York State and Local Police and Fire  Retirement
System.