S T A T E O F N E W Y O R K
2013-2014 Regular Sessions
I N S E N A T E
January 31, 2013
Introduced by Sen. LITTLE -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
AN ACT to authorize the town of Ticonderoga, in the county of Essex to
offer an optional twenty year retirement plan to police officer Dale
W. Quesnel, Jr.
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 town of Ticonderoga, in the county of Essex, a participating employ-
er 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 police officers employed by such town, is hereby
authorized to make participation in such plan available to patrolman
Dale W. Quesnel, Jr., a police officer employed by the town of Ticonde-
roga, who, for reasons not ascribable to his own negligence, failed to
make a timely application to participate in such optional twenty year
retirement plan. The town of Ticonderoga may so elect by filing with
the state comptroller, on or before December 31, 2014, a resolution of
its town board together with certification that such police officer did
not bar himself from participation in such retirement plan as a result
of his own negligence. Thereafter, such police officer 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 June 30, 2015.
S 2. All past costs associated with implementing the provisions of
this act shall be borne by the town of Ticonderoga.
S 3. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 3182 2
FISCAL NOTE.-- This bill will allow the Town of Ticonderoga to elect
to reopen the provisions of Section 384-d of the Retirement and Social
Security Law for patrolman Dale W. Quesnel, Jr.
If this bill is enacted and Dale W. Quesnel, Jr. becomes covered under
Section 384-d, we anticipate that there will be an increase of approxi-
mately $6,600 in the annual contributions of the Town of Ticonderoga for
the fiscal year ending March 31, 2014.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $10,800 which would be
borne by the Town of Ticonderoga as a one-time payment. This estimate is
based on the assumption that payment will be made on February 1, 2014.
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-
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 January 25, 2013 and intended for use only during
the 2013 Legislative Session, is Fiscal Note No. 2013-48, prepared by
the Actuary for the New York State and Local Police and Fire Retirement