Assembly Bill A10672

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

                                  10672

                          I N  A S S E M B L Y

                              June 13, 2012
                               ___________

Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Abbate) --
  read once and referred to the Committee on Governmental Employees

AN ACT to authorize Dennis M. Mullen to receive service  credit  in  the
  New  York  state  and  local police and fire retirement system for his
  service in the Marine Corps

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

  Section  1.  Notwithstanding  any  provision  of subdivision 1 or 2 of
section 1000 of the retirement and social security law, Dennis M. Mullen
a member of the division of state police, who is a  member  of  the  New
York  state  and  local  police  and  fire retirement system, who was on
active duty in the Marine Corps from August 14, 1987 until  November  4,
1990,  and  who  while  on such active duty was awarded the Marine Corps
expeditionary medal for participation in  Operation  Sharp  Edge  during
1990,  shall be eligible to apply for military service credit in the New
York state and local police and  fire  retirement  system  as  otherwise
provided  pursuant  to  the provisions of section 1000 of the retirement
and social security law.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.-- This bill will grant Dennis Mullen,  a  member  of  the
state police and a current member of the New York State and Local Police
and  Fire  Retirement  System,  eligibility to apply and receive up to 3
years of military service credit for  service  rendered  in  the  Marine
Corps.  Such  military  service  was rendered from August 14, 1987 until
November 4, 1990. Dennis Mullen is required to pay  3%  of  his  compen-
sation  earned  during  the  past  12  months  for each year of military
service credit he purchases.
  If this bill is enacted, there will be an immediate past service  cost
of  approximately $79,000. Of this cost, Dennis Mullen will pay approxi-
mately $11,000. The remaining $68,000 will be shared by the state of New
York and all the participating employers in the New York State and Local
Police and Fire Retirement System.
  Summary of relevant resources:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD16049-04-2
              

A. 10672                            2

  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 June 8, 2012, and intended for  use  only  during
the  2012  Legislative  Session, is Fiscal Note No. 2012-154 prepared by
the Actuary for the New York State and Local Police and Fire  Retirement
System.