Senate Bill S4128A

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

                                 4128--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 21, 2011
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions
  -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
  accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT to amend part A of chapter 504 of the laws of 2009, amending the
  retirement and social security law and other laws relating  to  estab-
  lishing  police and fire retirement provisions, in relation to special
  retirement plans available to  persons  joining  a  public  retirement
  system between July 1, 2009 and January 10, 2010

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

  Section 1. Section 8 of part A of chapter 504 of  the  laws  of  2009,
amending  the retirement and social security law and other laws relating
to establishing police and fire retirement  provisions,  is  amended  to
read as follows:
  S 8. (A) Notwithstanding any provision of law to the contrary, nothing
in  this  act  shall  limit the eligibility of any member of an employee
organization to join a special retirement plan open to him or her pursu-
ant to a collectively negotiated  agreement  with  any  state  or  local
government  employer, where such agreement is in effect on the effective
date of this act and so long as such agreement remains in effect  there-
after; provided, however, that any such eligibility shall not apply upon
termination  of  such  agreement  for employees otherwise subject to the
provisions of article twenty-two of the retirement and  social  security
law.
  (B)  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW TO THE CONTRARY ANY
MEMBER OF THE NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM
WHO BECAME A MEMBER ON OR AFTER JULY 1, 2009 AND BEFORE JANUARY 10, 2010
MAY JOIN A SPECIAL RETIREMENT PLAN OPEN TO HIM  OR  HER  PURSUANT  TO  A

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09571-05-2
              

S. 4128--A                          2

COLLECTIVELY  NEGOTIATED  AGREEMENT  WITH  ANY STATE OR LOCAL GOVERNMENT
EMPLOYER, WHERE SUCH AGREEMENT WAS IN EFFECT ON OR AFTER  JULY  1,  2009
AND BEFORE JANUARY 10, 2010.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
  This  bill  would  allow  an individual who became a member of the New
York State and Local Police and Fire  Retirement  System  (PFRS)  on  or
after July 1, 2009 and before January 10, 2010 to join a special retire-
ment  plan open to him or her pursuant to a collective bargaining agree-
ment in effect on or after July 1, 2009 and  before  January  10,  2010.
Such members who had elected coverage under Article 22 of the Retirement
and  Social  Security  Law  and  so are not subject to the provisions of
Article 14 will not be required to make employee contributions. Current-
ly, such members are making employee contributions of 3% of their  sala-
ries.
  If  this  bill  is  enacted,  we anticipate that the employers of such
members who are covered under PFRS special retirement contributory plans
would see an increase in their annual contributions for the fiscal  year
ending  March  31,  2013 of approximately 3.9% of the annual salaries of
such members.
  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 January 6, 2012, and intended for use only during
the  2012  Legislative  Session, is Fiscal Note No. 2012-51, prepared by
the Actuary for the New York State and Local Police and Fire  Retirement
System.