senate Bill S7416

Signed By Governor
2011-2012 Legislative Session

Authorizes the city of Gloversville to offer an optional twenty year retirement plan to certain firefighters employed by such city

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Archive: Last Bill Status Via A10164 - 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.165
Jul 06, 2012 delivered to governor
Jun 21, 2012 returned to assembly
passed senate
home rule request
3rd reading cal.1013
substituted for s7416
Jun 21, 2012 substituted by a10164
Jun 06, 2012 advanced to third reading
Jun 05, 2012 2nd report cal.
Jun 04, 2012 1st report cal.1013
May 10, 2012 referred to civil service and pensions

Votes

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Jun 4, 2012 - Civil Service and Pensions committee Vote

S7416
11
0
committee
11
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
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Civil Service and Pensions Committee Vote: Jun 4, 2012

aye wr (1)

S7416 - Bill Details

See Assembly Version of this Bill:
A10164
Law Section:
Retirement

S7416 - Bill Texts

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Authorizes the city of Gloversville to offer an optional twenty year retirement plan to certain firefighters employed by such city.

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BILL NUMBER:S7416

TITLE OF BILL:
An act to allow Thomas Mellis and Josh Frye to join the optional
twenty year retirement plan, city of Gloversville, county of Fulton

PURPOSE:
This legislation authorizes the City of Gloversville to reopen the
optional twenty-year retirement plan to firefighter Thomas Mellis and
firefighter Josh Frye.

SUMMARY OF PROVISIONS:
This bill authorizes the City of Gloversville to make participation in
the optional twenty-year retirement plan, established pursuant to
Section 384-d of the Retirement and Social Security Law, available to
Thomas Mellis and Josh Frye, firefighters employed by the City of
Gloversville, who for reasons not ascribable to their own negligence
failed to make a timely application to participate in the optional
retirement system.

JUSTIFICATION:
The City of Gloversville had previously elected to offer the optional
twenty-year retirement plan, established pursuant to Section 384-d of
the Retirement and Social Security Law, to firefighters in its employ.
For reasons not ascribable to their own negligence, two City
firefighters, Thomas Mellis and Josh Frye, failed to make a timely
application to participate in the optional retirement system. This
bill allows the City of Gloversville to reopen the Section 384-d plan
to Mr. Mellis and Mr. Frye, so long as they make such request by
December 31, 2012.

FISCAL IMPLICATIONS:
The fiscal note identifies that there will be a one-time cost of
$26,800, and an annual cost of $8,000, to be borne by the City of
Gloversville.

EFFECTIVE DATE:

Immediately.

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

    S. 7416                                                 A. 10164

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

                              May 10, 2012
                               ___________

IN  SENATE -- Introduced by Sen. FARLEY -- 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. BUTLER -- read once  and  referred
  to the Committee on Governmental Employees

AN  ACT to allow Thomas Mellis and Josh Frye to join the optional twenty
  year retirement plan, city of Gloversville, county of Fulton

  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  city  of  Gloversville,  in  the  county of Fulton, 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 security law, to firefighters employed by such city, is here-
by authorized to make participation in such  plan  available  to  Thomas
Mellis and Josh Frye, firefighters employed by the city of Gloversville,
who, for reasons not ascribable to their own negligence failed to make a
timely  application  to participate in such optional twenty year retire-
ment plan. Thereafter, Thomas Mellis and Josh  Frye,  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 December 31, 2012.
  S   2.  All  past  service  costs  associated  with  implementing  the
provisions of this act shall be borne by the city  of  Gloversville  and
may be amortized over a period of five years.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
  This  bill  will allow the City of Gloversville to elect to reopen the
provisions of Section 384-d of the Retirement and  Social  Security  Law
for firefighters Thomas J. Mellis and Joshua T. Frye.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15767-02-2

S. 7416                             2                           A. 10164

  If  this  bill  is  enacted,  and  both Mr. Mellis and Mr. Frye become
covered under Section  384-d,  we  anticipate  that  there  will  be  an
increase of approximately $8,000 in the annual contributions of the City
of Gloversville 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 $26,800 which would be
borne by the City of Gloversville as a one time payment.  This  estimate
is  based  on  the  assumption  that payment will be made on February 1,
2013. If the City elects to amortize this cost over a period of five (5)
years, the cost for the first year would be approximately $6,160.
  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 April 16, 2012 and intended for use only during
the 2012 Legislative Session, is Fiscal Note No. 2012-130,  prepared  by
the  Actuary for the New York State and Local Police and Fire Retirement
System.

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