Assembly Bill A7920A

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

                                 7920--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              May 24, 2011
                               ___________

Introduced by M. of A. ABBATE -- read once and referred to the Committee
  on  Governmental  Employees -- recommitted to the Committee on Govern-
  mental Employees in accordance with Assembly Rule 3, sec. 2 -- commit-
  tee discharged, bill amended, ordered reprinted as amended and  recom-
  mitted to said committee

AN  ACT  to amend the retirement and social security law, in relation to
  the deferral of vacation days for certain members  of  the  retirement
  system

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

  Section 1. Section 89 of the retirement and  social  security  law  is
amended by adding a new subdivision l to read as follows:
  L.  NOTWITHSTANDING  THE  PROVISIONS  OF ANY GENERAL, SPECIAL OR LOCAL
LAW, CODE, RESOLUTION OR CHARTER TO  THE  CONTRARY,  UNIFORMED  PERSONS,
UNIFORMED  PERSONNEL,  OR  SECURITY  HOSPITAL  TREATMENT  ASSISTANTS  AS
DEFINED IN SUBDIVISION I OF THIS SECTION SHALL  BE AFFORDED  THE  OPTION
OF  POSTPONING THE USE OF UP TO FIVE VACATION DAYS PER YEAR AND TAKING A
MONETARY PAYMENT IN LIEU THEREOF ON THE DATE OF RETIREMENT  AT  THE  PAY
RATE  APPLICABLE TO SUCH MEMBER ON THE DATE OF SUCH MEMBER'S RETIREMENT.
SUCH MONETARY PAYMENT SHALL NOT BE  UTILIZED  IN  THE  DETERMINATION  OF
FINAL AVERAGE SALARY FOR ANY SUCH MEMBER WHO SO ELECTS TO POSTPONE VACA-
TION DAYS PURSUANT TO THIS SUBDIVISION. ANY SUCH MEMBER WISHING TO POST-
PONE  THE  USE OF VACATION DAYS PURSUANT TO THIS SUBDIVISION SHALL ELECT
SUCH POSTPONEMENT ON AN ANNUAL BASIS BY CERTIFYING TO  THE  DIRECTOR  OF
PERSONNEL  OF  HIS OR HER RESPECTIVE EMPLOYER OF HIS OR HER INTENTION TO
DO SO IN SUCH MANNER AND  FORM  AS  THE  RESPECTIVE  DIRECTOR  SHALL  SO
REQUIRE.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11803-03-2

A. 7920--A                          2
              

  This  bill would allow State Correction Officers and Security Hospital
Treatment Assistants to postpone up to 5 days of vacation per  year  and
take monetary payment in lieu thereof on the date of retirement.
  If  this  bill  is enacted, affected members would become eligible for
increased lump sum payments at retirement. The  additional  payment  may
not  be  included  in the members' final average salary. Therefore, this
legislation does not change any benefit calculations  of  the  New  York
State  and Local Employees' Retirement System (ERS), and there would not
be a cost to ERS.
  Summary of relevant resources:
  Data: March 31, 2011 Actuarial Year End  File  with  distributions  of
membership  and  other  statistics  displayed  in the 2011 Report of the
Actuary and 2011 Comprehensive Annual Financial Report.
  Assumptions and Methods: 2010 and 2011  Annual  Report  to  the  Comp-
troller  on  Actuarial  Assumptions, Codes, Rules and Regulations of the
State of New York: Audit and Control.
  Market Assets and GASB Disclosures: March 31, 2011 New York State  and
Local  Retirement System Financial Statements and Supplementary Informa-
tion.
  Valuations of Benefit Liabilities and Actuarial Assets: summarized  in
the 2011 Actuarial Valuations report.
  I am a member of the American Academy of Actuaries and meet the Quali-
fication Standards to render the actuarial opinion contained herein.
  This  estimate,  dated  December  13,  2011, and intended for use only
during the  2012  Legislative  Session,  is  Fiscal  Note  No.  2012-42,
prepared  by  the  Actuary  for  the New York State and Local Employees'
Retirement System.