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

                                  6566

                            I N  S E N A T E

                            February 28, 2012
                               ___________

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

AN ACT to authorize Paul Liberatore to apply for retroactive  membership
  in the New York state and local police and fire retirement system

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

  Section 1. Notwithstanding any inconsistent provision of law, the fire
district of Hartsdale in the town of Greenburgh, county of  Westchester,
a participating employer in the New York state and local police and fire
retirement  system,  which has elected to offer the optional twenty year
retirement plan, established pursuant to section 384-d of the retirement
and social security law, and the additional pension benefits to  members
of  such  plan,  established pursuant to section 384-e of the retirement
and social security law, to firefighters employed by such town, is here-
by authorized to make retroactive membership in such plan  available  to
Paul  Liberatore,  a  firefighter  with  the  Hartsdale  fire  district,
employed by the Hartsdale fire district, who, for reasons not ascribable
to his own negligence failed to make a timely application to participate
in such optional twenty year retirement plan and the additional  pension
benefits  therefor.  The  Hartsdale fire district may so elect by filing
with the state comptroller, on or before December 31, 2012, a resolution
of its governing body together with certification that such  firefighter
did  not  bar  himself  from  participation in such retirement plan as a
result of his own negligence. Thereafter, such firefighter may elect  to
be  covered by the provisions of sections 384-d and 384-e of the retire-
ment and social security law, and shall be entitled to the  full  rights
and  benefits  associated with coverage under such sections, by filing a
request to that effect with the state comptroller on or before June  30,
2013.
  S  2. Any past service costs incurred by operation of the provision of
this act shall be borne by the Hartsdale fire district.
  S 3. 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.
              

                                                           LBD14267-02-2

S. 6566                             2

  This bill will allow the Hartsdale Fire District to  elect  to  reopen
the  provisions  of  Section  384-d  together  with Section 384-e of the
Retirement and Social Security Law for firefighter Paul Liberatore.
  If  this  bill  is  enacted,  and  firefighter Paul Liberatore becomes
covered under Section 384-d together with Section 384-e,  we  anticipate
that  there  will  be an increase of approximately $12,300 in the annual
contributions of the Hartsdale Fire District 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 $51,700 which would be
borne by the Hartsdale Fire District. This  estimate  is  based  on  the
assumption that payment will be made on February 1, 2013.
  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 February 17,  2012  and  intended  for  use  only
during  the  2012  Legislative  Session,  is  Fiscal  Note  No. 2012-86,
prepared by the Actuary for the New York State and Local Police and Fire
Retirement System.