Assembly Bill A9754

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9754
 
                           I N  A S S E M B L Y
 
                             February 10, 2020
                                ___________
 
 Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
   tee on Governmental Employees
 
 AN ACT to authorize the city of Mount Vernon, in the county of Westches-
   ter, to pay to Henry George Thomas and Christopher Francis the differ-
   ence between their retirement allowance and the amount of their  regu-
   lar salary or wage at the time of retirement

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Notwithstanding any  provision  of  section  207-a  of  the
 general  municipal law to the contrary, the city of Mount Vernon, in the
 county of Westchester, acting by and through its city council, is hereby
 authorized to enter into an  agreement  with  Henry  George  Thomas  and
 Christopher  Francis,  firefighters  employed  by the fire department of
 such city; whereby upon Henry George  Thomas  and  Christopher  Francis'
 retirement  pursuant to section 384-d of the retirement and social secu-
 rity law, which agreement provides that the city of  Mount  Vernon  will
 pay  Henry  George Thomas and Christopher Francis the difference between
 the base annual salary  they  would  have  received  had  they  remained
 employed  pursuant  to  subdivision  1  of  section 207-a of the general
 municipal law until mandatory retirement and their retirement  allowance
 (computed  at option zero amount), plus the workers' compensation income
 benefit, if any, received by Henry George Thomas and Christopher Francis
 after their retirement date.
   § 2. Except as specifically provided in this act, no provision of this
 act shall be deemed to create any  right  or  privilege  for  any  other
 employee of the city of Mount Vernon.
   §  3.  All  costs  of implementing the provisions of this act shall be
 borne by the city of Mount Vernon.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--This bill authorizes the city of Mount Vernon  to  enter
 into  an  agreement  with  Henry  George Thomas and Christopher Francis,
 firefighters employed by the fire department of  the  city  and  retired
 with performance of duty disability benefits from the New York State and
 Local  Police  and  Fire  Retirement  System,  whereby the city of Mount
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD09933-03-0

 A. 9754                             2
 
 Vernon will pay them the difference between the base annual salary  they
 would have received had they remained employed pursuant to section 207-a
 of  the  General  Municipal Law until mandatory retirement age and their
 retirement  allowance  plus  any  workers'  compensation income received
 after the date of retirement.
   If this bill is enacted, there is no cost to the New  York  State  and
 Local Police and Fire Retirement System.
   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, 2019  actuarial  valu-
 ation.    Distributions  and  other  statistics can be found in the 2019
 Report of the  Actuary  and  the  2019  Comprehensive  Annual  Financial
 Report.
   The  actuarial assumptions and methods used are described in the 2015,
 2016, 2017, 2018 and 2019 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, 2019
 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  fiscal note does not constitute a legal opinion on the viability
 of the proposed change nor is it intended to serve as a  substitute  for
 the professional judgment of an attorney.
   This  estimate,  dated  February  6,  2020,  and intended for use only
 during the  2020  Legislative  Session,  is  Fiscal  Note  No.  2020-48,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.