senate Bill S6394

Signed By Governor
2011-2012 Legislative Session

Authorizes the town of Inlet to offer a 20 year retirement plan to police officer John Harrington

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Archive: Last Bill Status Via A9222 - 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.132
Jul 06, 2012 delivered to governor
Jun 21, 2012 returned to assembly
passed senate
home rule request
3rd reading cal.487
substituted for s6394
Jun 21, 2012 substituted by a9222
Apr 19, 2012 advanced to third reading
Apr 18, 2012 2nd report cal.
Apr 17, 2012 1st report cal.487
Feb 03, 2012 referred to civil service and pensions

Votes

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Apr 17, 2012 - Civil Service and Pensions committee Vote

S6394
9
0
committee
9
Aye
0
Nay
1
Aye with Reservations
0
Absent
2
Excused
0
Abstained
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Civil Service and Pensions Committee Vote: Apr 17, 2012

aye wr (1)
excused (2)

S6394 - Bill Details

See Assembly Version of this Bill:
A9222
Law Section:
Retirement

S6394 - Bill Texts

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Authorizes the town of Inlet to offer a 20 year retirement plan to police officer John Harrington.

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BILL NUMBER:S6394

TITLE OF BILL:
An act
to authorize the town of Inlet, in the county of Hamilton to offer an
optional twenty year retirement plan to police officer John Harrington

PURPOSE:
To authorize the town of Inlet to re-open the optional retirement plan
offered under Section 384-d of the Retirement and Social Security law
to police officer John Harrington.

SUMMARY OF PROVISIONS:
Section 1: The Town of Inlet is authorized to make participation in
the twenty year retirement plan established under section 384-d of
the retirement and social security law available to police officer
John Harrington.

Section 2: All employer costs associated with the implementation
of this act will be borne by the Town of Inlet, and past service costs
associated with this act shall be paid in ten equal annual
installments.

Section 3: Contains the effective date.

JUSTIFICATION:
This legislation is necessary to allow the Town of Inlet to make
participation in plan 354-d of the New York State and Local Police
and Fire Retirement System available to police officer John
Harrington, who through no negligence of his own failed to make a
timely application to participate in such an optional retirement plan
when he transitioned from part to full time in said town.

LEGISLATIVE HISTORY:
New Bill.

FISCAL IMPLICATIONS:
All costs associated with the implementation of this act shall be
borne by the town of Inlet.

LOCAL FISCAL IMPLICATIONS:
If the legislation is enacted during the 2012 legislative session, the
Town of InIet will bear an annual contribution increase of$3,600 for
the fiscal year ending March 31, 2013. The town will pay an
additional $5,480 in past service costs annually for ten years.

EFFECTIVE DATE:
This act shall take effect immediately.

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

                                  6394

                            I N  S E N A T E

                            February 3, 2012
                               ___________

Introduced  by  Sen.  LITTLE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions

AN ACT to authorize the town of Inlet, in  the  county  of  Hamilton  to
  offer  an  optional twenty year retirement plan to police officer John
  Harrington

  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 Inlet, in the county of Hamilton, 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 secu-
rity law, to police officers employed by such town, is hereby authorized
to  make  participation in such plan available to sergeant John Harring-
ton, a police officer employed by the town of Inlet,  who,  for  reasons
not  ascribable  to his own negligence, failed to make a timely applica-
tion to participate in such optional twenty year retirement plan.    The
town  of  Inlet may so elect by filing with the state comptroller, on or
before December 31, 2013, a resolution of its town board  together  with
certification  that such police officer did not bar himself from partic-
ipation 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 benefits associated with
coverage under such section, by filing a request to that effect with the
state comptroller on or before June 30, 2014.
  S 2. All past costs associated with  implementing  the  provisions  of
this act shall be borne by the town of Inlet.
  S 3. This act shall take effect immediately.
  FISCAL  NOTE.--If this legislation is enacted during the 2012 legisla-
tive session, we anticipate that there will be an increase  of  approxi-
mately  $3,600  in the annual contributions of the Town of Inlet for the
fiscal year ending March 31, 2013.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14345-02-2

S. 6394                             2

  In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $40,400, which would  be
borne by the Town of Inlet as a one-time payment. This estimate is based
on  the assumption that payment will be made on February 1, 2013. If the
legislation so specifies and the past service cost were amortized over a
period  of  five  (5)  or ten (10) years, the past service costs for the
first year including interest, would be approximately $9,300  or  $5,480
respectively.
  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 and Actuarial Assumptions, Codes Rules and  Regulations  of  the
State of New York: Audit and Control.
  Markets 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.

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