S T A T E O F N E W Y O R K
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3422--A
2011-2012 Regular Sessions
I N S E N A T E
February 22, 2011
___________
Introduced by Sen. McDONALD -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
-- committee discharged, bill amended, ordered reprinted as amended
and recommitted to said committee
AN ACT authorizing the town of East Greenbush, in the county of Rensse-
laer, to make retired employee Richard C. Bender eligible for the
retirement incentive offered by chapter 105 of the laws of 2010
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 town of East Greenbush, in the county of Rensselaer, a participating
employer in the New York state and local employees' retirement system,
which previously elected to offer the temporary retirement incentive for
certain public employees, established pursuant to chapter 105 of the
laws of 2010, is hereby authorized to make such plan available to Rich-
ard C. Bender, who was employed by the town of East Greenbush from Octo-
ber 3, 1980 and who retired from the New York state and local employees'
retirement system effective August 13, 2010, and who for reasons not
ascribable to his own negligence, failed to retire under the ninety day
retirement incentive window offered by the town of East Greenbush pursu-
ant to chapter 105 of the laws of 2010 and to allow Richard C. Bender to
change the date of his retirement to October 1, 2010 if he shall file
such request with the state comptroller by December 31, 2011.
S 2. All past service costs associated with the implementation of the
provisions of this act shall be borne by the town of East Greenbush and
may be amortized over a period of ten years.
S 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would allow Richard C. Bender, a retiree of the New York
State and Local Employees' Retirement System, to change his date of
retirement to October 1, 2010 to be within the 90 day retirement incen-
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08663-02-1
S. 3422--A 2
tive window offered by the Town of East Greenbush for the retirement
benefits under the provisions of Chapter 105 of the laws of 2010. Mr.
Bender must file a request with the state comptroller by December 31,
2011.
If this bill is enacted and Richard C. Bender receives the retirement
incentive, there will be an immediate past service cost of approximately
$160,000 which will be borne by the Town of East Greenbush as a one-time
payment. This estimate is based on the assumption that payment will be
made on February 1, 2012. If this cost is amortized over a ten year
period, the cost for the first year, including interest would be approx-
imately $21,700.
This estimate, dated March 4, 2011 and intended for use only during
the 2011 Legislative Session, is Fiscal Note No. 2011-126, prepared by
the Actuary for the New York State and Local Employees' Retirement
System.