Bill Text: NY A09920 | 2023-2024 | General Assembly | Introduced

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Bill Title: Authorizes Frank Lyburd III, Brian McNamara, Peter J. Jacobs, Roman S. Wilinski, Alex U. Chenche and Tara Tandy, police officers in the town of Southold, county of Suffolk, to receive certain service credit under section 384-d of the retirement and social security law.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-04-26 - referred to governmental employees [A09920 Detail]

Download: New_York-2023-A09920-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9920

                   IN ASSEMBLY

                                     April 26, 2024
                                       ___________

        Introduced by M. of A. THIELE -- read once and referred to the Committee
          on Governmental Employees

        AN ACT in relation to authorizing certain police officers in the town of
          Southold,  county  of Suffolk, to receive certain service credit under
          section 384-d of the retirement and social security law

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1. Notwithstanding any provisions of law to the contrary, the
     2  town of Southold, in the county of Suffolk, a participating employer  in
     3  the  New  York  state  and local police and fire retirement system which
     4  previously elected to offer the optional  twenty  year  retirement  plan
     5  pursuant  to  section 384-d of the retirement and social security law to
     6  police officers employed by such town,  is  hereby  authorized  to  make
     7  participation in such plan available to Frank Lyburd III, a police offi-
     8  cer employed by the town of Southold with a starting date of October 20,
     9  2003,  who,  for  reasons  not  ascribable  to their own negligence, was
    10  enrolled in the general retirement plan contained in  section  375-i  of
    11  the  retirement  and social security law.  Frank Lyburd III may elect to
    12  be covered by the provisions of sections 384-d and 384-e of the  retire-
    13  ment  and  social  security law and full credit shall be granted in such
    14  plan for such service upon election of the town of  Southold  to  assume
    15  the additional cost of such service.
    16    §  2.  Notwithstanding any provisions of law to the contrary, the town
    17  of Southold, in the county of Suffolk, a participating employer  in  the
    18  New  York state and local police and fire retirement system which previ-
    19  ously elected to offer the optional twenty year retirement plan pursuant
    20  to section 384-d of the retirement and social  security  law  to  police
    21  officers  employed  by  such  town, is hereby authorized to make partic-
    22  ipation in such plan available to Brian McNamara, Peter J.  Jacobs,  and
    23  Roman S. Wilinski, police officers employed by the town of Southold with
    24  a  starting date of November 1, 2004, who, for reasons not ascribable to
    25  their own negligence, were  enrolled  in  the  general  retirement  plan
    26  contained  in  section  375-i of the retirement and social security law.
    27  Brian McNamara, Peter J. Jacobs, and Roman S.  Wilinski may elect to  be

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15099-03-4
        A. 9920                             2

     1  covered  by the provisions of sections 384-d and 384-e of the retirement
     2  and social security law and full credit shall be granted  in  such  plan
     3  for  such  service  upon  election of the town of Southold to assume the
     4  additional cost of such service.
     5    §  3.  Notwithstanding any provisions of law to the contrary, the town
     6  of Southold, in the county of Suffolk, a participating employer  in  the
     7  New  York state and local police and fire retirement system which previ-
     8  ously elected to offer the optional twenty year retirement plan pursuant
     9  to section 384-d of the retirement and social  security  law  to  police
    10  officers  employed  by  such  town, is hereby authorized to make partic-
    11  ipation in such plan available to Alex U. Chenche and Tara Tandy, police
    12  officers employed by the town of Southold with a starting date of Decem-
    13  ber 15, 2014, who, for reasons not ascribable to their  own  negligence,
    14  were  enrolled in the general retirement plan contained in section 375-i
    15  of the retirement and social security law.   Alex U.  Chenche  and  Tara
    16  Tandy  may  elect  to be covered by the provisions of sections 384-d and
    17  384-e of the retirement and social security law and full credit shall be
    18  granted in such plan for such service upon election of the town of Sout-
    19  hold to assume the additional cost of such service.
    20    § 4. The town of Southold may so elect by filing with the state  comp-
    21  troller  within  six  months of the effective date of this act, a resol-
    22  ution of its legislative body, together  with  certification  that  such
    23  police  officers  did  not  bar  themselves  from  participation in such
    24  retirement plan as a result of their own  negligence.  Thereafter,  such
    25  police  officers  may  elect to be covered by the provisions of sections
    26  384-d and 384-e of the retirement and social security law, and shall  be
    27  entitled to full rights and benefits associated with coverage under such
    28  sections,  by filing a request to this effect with the state comptroller
    29  within one year of the effective date of this act.
    30    § 5. All costs associated with implementing the provisions of this act
    31  shall be borne by the town of Southold and may be amortized over a peri-
    32  od of five years.
    33    § 6. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would allow the Town of Southold to reopen the provisions of
        Section 384-d, together with 384-e, of the Retirement and Social Securi-
        ty Law for police officers Frank Lyburd III, Brian  McNamara,  Peter  J.
        Jacobs,  Roman  S.  Wilinski,  Alex U. Chenche, and Tara Tandy. All past
        service costs will be borne by the Town of Southold and may be amortized
        over a period of five years.
          If this bill is enacted during the 2024 Legislative Session, we antic-
        ipate that there will be an increase of approximately  $110,000  in  the
        annual  contributions of the Town of Southold for the fiscal year ending
        March 31, 2025. In future years this cost will vary but is  expected  to
        average 11.0% of salary annually.
          In addition to the annual contributions discussed above, there will be
        an immediate past service cost of approximately $1.30 million which will
        be  borne  by  the Town of Southold as a one-time payment. This estimate
        assumes that payment will be made on February 1, 2025. If  the  Town  of
        Southold  elects to amortize this cost over a five-year period, the cost
        for each year including interest would be $291,000.
          These estimated costs are based on the six affected members  named  in
        the  bill  and  employed  by the Town of Southold, with annual salary of
        approximately $915,000 as of March 31, 2023.
          Summary of relevant resources:
        A. 9920                             3

          Membership data as of March 31, 2023 was used in measuring the  impact
        of the proposed change, the same data used in the April 1, 2023 actuari-
        al  valuation.    Distributions and other statistics can be found in the
        2023 Report of the Actuary and the 2023 Annual  Comprehensive  Financial
        Report.
          The  actuarial  assumptions and methods used are described in the 2023
        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, 2023
        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 April 12, 2024, and intended for use only during
        the 2024 Legislative Session, is Fiscal Note No. 2024-160,  prepared  by
        the Actuary for the New York State and Local Retirement System.