senate Bill S6382

Signed By Governor
2011-2012 Legislative Session

Relates to specifying the time frame under which the village of Southampton shall pay certain retirement costs

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Archive: Last Bill Status Via A9182 - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 18, 2012 signed chap.131
Jul 06, 2012 delivered to governor
Jun 21, 2012 returned to assembly
passed senate
home rule request
3rd reading cal.747
substituted for s6382
Jun 21, 2012 substituted by a9182
May 16, 2012 advanced to third reading
May 15, 2012 2nd report cal.
May 14, 2012 1st report cal.747
Feb 02, 2012 referred to civil service and pensions

Votes

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May 14, 2012 - Civil Service and Pensions committee Vote

S6382
10
0
committee
10
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
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Civil Service and Pensions Committee Vote: May 14, 2012

aye wr (2)

S6382 - Bill Details

See Assembly Version of this Bill:
A9182
Law Section:
Retirement
Laws Affected:
Amd ยงยง1 & 2, Chap 365 of 2011

S6382 - Bill Texts

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Relates to authorizing the village of Southampton, in the county of Suffolk, to offer certain retirement options to police officer Theodore Raffel, Jr.; specifies the time frame under which the village of Southampton shall pay the costs for implementing such retirement option.

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BILL NUMBER:S6382

TITLE OF BILL:
An act
to amend
chapter 365 of the laws of 2011, relating to authorizing the village of
Southampton, in the county of Suffolk, to offer certain retirement
options to police officer Theodore Raffel, Jr., in relation to
specifying the time frame under which the village of Southampton shall
pay the costs for implementing such retirement options

PURPOSE:
This legislation would allow the village of Southampton to amortize
the costs associated with the reopening the optional retirement plan
offered under Section 384-d of the Retirement and Social Security to
police officer Theodore Raffel, Jr. over a five-year period.

SUMMARY OF PROVISIONS:
This bill will allow the village of Southampton, in the county of
Suffolk, a participating employer in the New York State and Local
Police and Fire Retirement System, to elect to reopen the provisions
of Section 384-d of the Retirement and Social Security Law for police
officer Theodore Raffel, Jr.

The village may file with the State Comptroller by December 31, 2012 a
resolution of its local legislative body together with certification
that Theodore Raffel did not bar himself from participation in the
retirement plan as a result of his own negligence. Thereafter,
Theodore Raffel, Jr. must file a request with the State Comptroller
by June 30, 2013 electing coverage under Section 384-d of the
Retirement and Social Security Law.

All past service costs associated with the implementation of these
provisions shall be borne by the village of Southampton and shall be
payable over a period of five years.

JUSTIFICATION:
For reasons not ascribable to his own negligence, Theodore Raffel, Jr.
who is employed by the village of Southampton Police Department and
is an active member of the New York State and Local Police and Fire
Retirement currently covered by the provisions of Section 375-i of
the Retirement and Social Security Law, failed to make a timely
application to participate in the optional retirement plan that is
available to police officers employed by the village of
Southampton under Section 384-d of the Retirement and Social Security
Law. To correct this inequity, Chapter 365 of the Laws of 2011 was
enacted at the village's request to allow the reopening of such
provisions.

The immediate past service costs associated with the implementation of
Chapter 365 of the Laws of 2011 were to be borne by the village of

Southampton as a one-time payment. However, the village inadvertently
budgeted for this payback over a five-year period. This chapter
amendment is necessary to allow the village of Southampton to
amortize the past service cost over a five-year period. Further, this
chapter amendment grants Officer Raffel and the village of
Southampton an additional year to elect Section 374-d since the
filing deadlines contained in Chapter 365 have already expired.

LEGISLATIVE HISTORY:
New legislation.

FISCAL IMPLICATIONS:
The Actuary of the New York State and Local Police and Fire Retirement
System anticipates an increase of approximately $11,100 in the annual
contributions of the village of Southampton for the fiscal year
ending March 31, 2013. In addition, there will e an immediate past
service cost of approximately $185,000 which would be borne by the
village of Southampton as a one-time payment based on the assumption
that payment will be made on February 1, 2013. If the cost is
amortized over a five-year period, the cost for the first year,
including interest would be approximately $42,000.

EFFECTIVE DATE:
Immediately.

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

    S. 6382                                                  A. 9182

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

                            February 2, 2012
                               ___________

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 amend chapter 365 of the laws of 2011, relating to authorizing
  the village of Southampton, in the county of Suffolk, to offer certain
  retirement options to police officer Theodore Raffel, Jr., in relation
  to specifying the time frame under which the  village  of  Southampton
  shall pay the costs for implementing such retirement options

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

  Section 1.  Sections 1 and 2 of chapter  365  of  the  laws  of  2011,
relating  to  authorizing  the  village of Southampton, in the county of
Suffolk, to offer certain retirement options to police officer  Theodore
Raffel, Jr., are amended to read as follows:
  Section 1. Notwithstanding any other provision of law to the contrary,
the  village  of  Southampton, 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 retirement plan
established pursuant to section 384-d of the retirement and social secu-
rity law to police officers employed by such village, is hereby  author-
ized  to  make  participation in such plan available to Theodore Raffel,
Jr., registration number 0A779322, a  police  officer  employed  by  the
village  of  Southampton,  who,  on  the  effective  date of this act is
covered under the provisions of section  375-i  of  the  retirement  and
social  security  law,  and  who,  for reasons not ascribable to his own
negligence failed to make a timely application to  participate  in  such
optional  retirement  plan.  The  village of Southampton may so elect by
filing with the state comptroller, on  or  before  December  31,  [2011]
2012,  a  resolution of its legislative body 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13579-03-2

S. 6382                             2                            A. 9182

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 benefits  associated  with  coverage  under  such
section,  by  filing a request to that effect with the state comptroller
on or before June 30, [2012] 2013.
  S  2.  All  past  service  costs  associated  with  implementing   the
provisions  of this act shall be borne by the village of Southampton AND
SHALL BE PAYABLE OVER A PERIOD OF FIVE YEARS.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill amends chapter 365 of the laws  of  2011  which  allows  the
Village  of  Southampton  to  elect  to reopen the provisions of Section
384-d of the Retirement and Social Security Law for police officer Theo-
dore Raffel if he files an election by December 31, 2011. This amendment
will grant officer Raffel and the Village of Southampton  an  additional
year  to  elect  Section  384-d and permit the Village of Southampton to
amortize the past service cost over a five year period.
  If this bill is enacted, and officer Theodore Raffel  becomes  covered
under  Section  384-d,  we  anticipate that there will be an increase of
approximately $11,100 in the annual  contributions  of  the  Village  of
Southampton for the fiscal year ending March 31, 2013.
  In addition to the annual contributions discussed above, there will be
an  immediate past service cost of approximately $185,000 which would be
borne by the Village of Southampton as a one-time payment. This estimate
is based on the assumption that payment will  be  made  on  February  1,
2013.  If  this  cost is amortized over a five year period, the cost for
the first year, including interest would be approximately $42,400.
  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  16,  2011  and intended for use only
during the  2012  Legislative  Session,  is  Fiscal  Note  No.  2012-36,
prepared by the Actuary for the New York State and Local Police and Fire
Retirement System.

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