Assembly Bill A8315A

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

                                 8315--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              June 13, 2011
                               ___________

Introduced by M. of A. SMARDZ -- read once and referred to the Committee
  on  Governmental  Employees -- recommitted to the Committee on Govern-
  mental Employees in accordance with Assembly Rule 3, sec. 2 -- commit-
  tee discharged, bill amended, ordered reprinted as amended and  recom-
  mitted to said committee

AN  ACT to authorize the county of Erie to offer an optional twenty year
  retirement plan to deputy sheriff Thomas Van Wie

  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  county  of Erie, a participating employer in the New York state and
local employees' retirement system, which previously  elected  to  offer
the  optional  twenty  year  retirement  plan,  established  pursuant to
section 552 of the retirement and social security  law,  and  the  addi-
tional pension benefits to members of such plan, established pursuant to
section  553  of  the  retirement  and social security law, to sheriffs,
under-sheriffs and deputy sheriffs employed by such  county,  is  hereby
authorized  to make participation in such plan and benefits available to
Thomas Van Wie, deputy sheriff employed by  the  county  of  Erie  since
September 5, 2006 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  there-
for.  The  county  of  Erie  may so elect by filing with the state comp-
troller, on or before December 31,  2013,  a  resolution  of  its  local
legislative  body  together  with certification that such deputy sheriff
did not bar himself from participation in  such  retirement  plan  as  a
result  of his own negligence. Thereafter, such deputy sheriff may elect
to be covered by the provisions of sections 552 and 553 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09635-11-2

              

A. 8315--A                          2

request  to that effect with the state comptroller on or before June 30,
2014.
  S 2. All employer costs associated with implementing the provisions of
this act shall be borne by the county of Erie.
  S 3. This act shall take effect immediately.
  FISCAL  NOTE.--This bill will allow Erie County to elect to reopen the
provisions of a 20 year retirement plan pursuant to Section 552  of  the
Retirement and Social Security Law for deputy sheriff Thomas Van Wie. He
would  also  immediately  become  covered under Section 553, which gives
additional 60ths of final average salary for  each  year  of  creditable
service beyond 20 years.
  If  this bill is enacted, we anticipate that there will be an increase
of approximately $9,100 in the annual contributions of Erie  County  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 $19,700 which would be
borne by Erie County as a one-time payment. 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 January 6, 2012, and intended for use only during
the 2012 Legislative Session, is Fiscal Note No.  2012-57,  prepared  by
the  Actuary  for  the  New  York  State and Local Employees' Retirement
System.