Senate Bill S5406

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

                                  5406

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              May 16, 2013
                               ___________

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

AN ACT to amend the retirement and social security law, in  relation  to
  the  deferral  of  vacation days for certain members of the retirement
  system

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

  Section  1.  Section  89  of the retirement and social security law is
amended by adding a new subdivision l to read as follows:
  L. NOTWITHSTANDING THE PROVISIONS OF ANY  GENERAL,  SPECIAL  OR  LOCAL
LAW,  CODE,  RESOLUTION  OR  CHARTER TO THE CONTRARY, UNIFORMED PERSONS,
UNIFORMED  PERSONNEL,  OR  SECURITY  HOSPITAL  TREATMENT  ASSISTANTS  AS
DEFINED IN SUBDIVISION I OF THIS SECTION SHALL BE AFFORDED THE OPTION OF
POSTPONING  THE  USE  OF  UP TO FIVE VACATION DAYS PER YEAR AND TAKING A
MONETARY PAYMENT IN LIEU THEREOF ON THE DATE OF  RETIREMENT,  SEPARATION
FROM  SERVICE,  OR  ON THE DATE THE MEMBER BECOMES INELIGIBLE TO RECEIVE
THE BENEFITS PROVIDED BY THIS SECTION BY REASON OF TERMINATION, TRANSFER
TO A DIFFERENT TITLE OR FOR ANY OTHER REASON WHICH WOULD OTHERWISE  DEEM
THE MEMBER INELIGIBLE TO RECEIVE SUCH BENEFITS, AT THE PAY RATE APPLICA-
BLE  TO  SUCH  MEMBER  ON THE DATE OF SUCH MEMBER'S RETIREMENT OR ON THE
DATE SUCH MEMBER BECOMES INELIGIBLE TO RECEIVE THE BENEFITS PROVIDED  BY
THIS  SECTION  BY REASON OF SEPARATION OF SERVICE, TERMINATION, TRANSFER
TO A DIFFERENT TITLE OR FOR ANY  OTHER  REASON.  SUCH  MONETARY  PAYMENT
SHALL  NOT  BE UTILIZED IN THE DETERMINATION OF FINAL AVERAGE SALARY FOR
ANY SUCH MEMBER WHO SO ELECTS TO POSTPONE VACATION DAYS PURSUANT TO THIS
SUBDIVISION. ANY SUCH MEMBER WISHING TO POSTPONE  THE  USE  OF  VACATION
DAYS  PURSUANT  TO  THIS SUBDIVISION SHALL ELECT SUCH POSTPONEMENT ON AN
ANNUAL BASIS BY CERTIFYING TO THE DIRECTOR OF PERSONNEL OF  HIS  OR  HER
RESPECTIVE  EMPLOYER OF HIS OR HER INTENTION TO DO SO IN SUCH MANNER AND
FORM AS THE RESPECTIVE DIRECTOR SHALL SO REQUIRE.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09077-01-3
              

S. 5406                             2

  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill would allow State Correction Officers and Security Hospital
Treatment Assistants to postpone up to 5 days of vacation per  year  and
take monetary payment in lieu thereof on the date of retirement.
  If  this  bill  is enacted, affected members would become eligible for
increased lump sum payments on their  dates  of  retirement,  separation
from  service,  termination  or transfer to a different title. The addi-
tional payment may not be included in the members' final average salary.
Therefore, this legislation does not change any benefit calculations  of
the  New  York  State  and Local Employees' Retirement System (ERS), and
there would not be a cost to ERS.
  Summary of relevant resources:
  Data: March 31, 2012 Actuarial Year End  File  with  distributions  of
membership  and  other  statistics  displayed  in the 2012 Report of the
Actuary and 2012 Comprehensive Annual Financial Report.
  Assumptions and Methods: 2010, 2011 and  2012  Annual  Report  to  the
Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the
State of New York: Audit and Control.
  Market  Assets and GASB Disclosures: March 31, 2012 New York State and
Local Retirement System Financial Statements and Supplementary  Informa-
tion.
  Valuations  of Benefit Liabilities and Actuarial Assets: summarized in
the 2012 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 November 2,  2012,  and  intended  for  use  only
during the 2013 Legislative Session, is Fiscal Note No. 2013-4, prepared
by  the  Actuary  for the New York State and Local Employees' Retirement
System.