Senate Bill S8306

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

                                  8306

                            I N  S E N A T E

                              June 22, 2010
                               ___________

Introduced  by  Sen.  LARKIN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to authorize the village of Maybrook, in the county of Orange, to
  offer an optional twenty year retirement plan to police officer Micha-
  el E. Maresca

  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  Maybrook,  in  the  county  of Orange, 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 Micha-
el E. Maresca, a police officer employed by  the  village  of  Maybrook,
who,  for  reasons not ascribable to his own negligence failed to make a
timely application to participate in such optional twenty  year  retire-
ment  plan.    The  village  of Maybrook may so elect by filing with the
state comptroller, on or before December 31, 2010, a resolution  of  its
board  of  trustees together with certification that such police officer
did not bar himself from participation in  such  retirement  plan  as  a
result  of his own negligence. Thereafter, such police officer 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 bene-
fits 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 employer costs associated with implementing the provisions of
this act shall be borne by the village of Maybrook.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill will allow the Village of Maybrook to elect  to  reopen  the
provisions  of  Section  384-d of the Retirement and Social Security Law
for Police Officer Michael E. Maresca.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14557-03-0
              

S. 8306                             2

  If this bill is enacted and the above  officer  become  covered  under
Section  384-d, we anticipate that there will be an increase of approxi-
mately $2,540 in the annual contributions of the Village of Maybrook for
the fiscal year ending March 31, 2011.
  In addition to the annual contributions discussed above, there will be
an  immediate  past  service cost of approximately $5,100 which would be
borne by the Village of Maybrook. This estimate is based on the  assump-
tion that payment will be made on February 1, 2011.
  This  estimate,  dated  April 7, 2010 and intended for use only during
the 2010 Legislative Session, is Fiscal Note No. 2010-133,  prepared  by
the  Actuary for the New York State and Local Police and Fire Retirement
System.