S T A T E   O F   N E W   Y O R K
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    S. 3907                                                  A. 5393

                       2015-2016 Regular Sessions

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

                            February 20, 2015
                               ___________

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

AN ACT to amend the retirement and social security law, in  relation  to
  increasing  the  mandatory retirement age from fifty-five to sixty for
  police officers in the town of Southampton

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

  Section 1. Subdivision m of section 384-d of the retirement and social
security law, as added by chapter 368 of the laws of 2011, is amended to
read as follows:
  m.  Notwithstanding  any  inconsistent  provision  of law, if the town
board of the town of Southampton elects to make  the  benefits  of  this
section  available  to the members of its police department, each member
of such department shall be separated from service  upon  completion  of
twenty  years  of  service,  provided,  however, that the town board may
permit a member to continue in service on  an  annual  basis  after  the
completion of twenty years of service, but in no event shall such annual
service  be continued after a member has attained age [fifty-five] SIXTY
unless such member has not attained twenty  years  of  service[,  except
however,  that  members of such department who hold the rank of sergeant
or higher within such department may be permitted by the town  board  to
remain in service until the member has attained age sixty].
  S 2. This act shall take effect immediately.
  FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
  This  bill will amend Section 384-d(m) so as to allow a police officer
employed by the Town of Southampton to continue in service until attain-
ing age 60. Current law provides  such  officer  to  be  separated  from

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07103-02-5
              

S. 3907                             2                            A. 5393

service  at  age  55,  unless  the officer holds the rank of sergeant or
higher in which case the age is 60.
  If this bill is enacted, there will be no cost.
  Summary of relevant resources:
  The  membership  data  used  in  measuring  the impact of the proposed
change was the same as that used in the March 31, 2014  actuarial  valu-
ation.    Distributions  and  other  statistics can be found in the 2014
Report of the  Actuary  and  the  2014  Comprehensive  Annual  Financial
Report.
  The  actuarial  assumptions  and  methods  used are described in 2010,
2011, 2012, 2013 and 2014 Annual Report to the Comptroller on  Actuarial
Assumptions,  and  the  Codes, Rules and Regulations of the State of New
York: Audit and Control.
  The Market Assets and GASB Disclosures are found in the March 31, 2014
New York State and Local  Retirement  System  Financial  Statements  and
Supplementary Information.
  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 20, 2015 and intended for use only during
the  2015  Legislative  Session, is Fiscal Note No. 2015-34, prepared by
the Actuary for the New York State and Local Police and Fire  Retirement
System.