Bill Text: NY A07146 | 2009-2010 | General Assembly | Introduced
Bill Title: Authorizes the village of Hastings-on-Hudson to offer an optional twenty-year retirement plan to certain police officers employed by the village.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-01-06 - referred to governmental employees [A07146 Detail]
Download: New_York-2009-A07146-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
7146
2009-2010 Regular Sessions
I N A S S E M B L Y
March 25, 2009
___________
Introduced by M. of A. BRODSKY -- read once and referred to the Commit-
tee on Governmental Employees
AN ACT to authorize the village of Hastings-on-Hudson to offer an
optional twenty year retirement plan to certain police officers
employed by such village
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Notwithstanding any other provision of law to the contrary,
2 the village of Hastings-on-Hudson, a participating employer in the New
3 York state and local police and fire retirement system, which previously
4 elected to offer the optional twenty year retirement plan, established
5 pursuant to section 384-d of the retirement and social security law, to
6 police officers employed by such village, is hereby authorized to make
7 participation in such plan available to John DeBlasio, David Dosin and
8 Anthony Gentile, police officers employed by the village of Hastings-on-
9 Hudson, who, for reasons not ascribable to their own negligence, failed
10 to make a timely application to participate in such optional twenty year
11 retirement plan. The village of Hastings-on-Hudson may so elect by
12 filing with the state comptroller, on or before December 31, 2009, a
13 resolution of its local legislative body together with certification
14 that such police officers did not bar themselves from participation in
15 such retirement plan as a result of their own negligence. Thereafter,
16 such police officers may elect to be covered by the provisions of
17 section 384-d of the retirement and social security law, and shall be
18 entitled to the full rights and benefits associated with coverage under
19 such section, by filing a request to that effect with the state comp-
20 troller on or before June 30, 2010.
21 S 2. All employer costs associated with implementing the provisions of
22 this act shall be borne by the village of Hastings-on-Hudson and the
23 past service costs associated with this act may be paid in ten equal
24 annual installments.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09732-02-9
A. 7146 2
1 S 3. This act shall take effect immediately.
FISCAL NOTE.-- This bill will allow the Village of Hastings-on-Hudson
to elect to reopen the provisions of Section 384-d of the Retirement and
Social Security Law for police officers John DeBlasio, David Dosin and
Anthony Gentile.
If this bill is enacted, and these officers become covered under
Section 384-d, we anticipate that there will be an increase of approxi-
mately $12,200 in the annual contributions of the Village of Hastings-
on-Hudson for the fiscal year ending March 31, 2010.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $320,000 which would be
borne by the Village of Hastings-on-Hudson. This estimate is based on
the assumption that payment will be made on February 1, 2010. If this
cost were amortized over a period of ten (10) years, the costs for the
first year including interest would be approximately $44,100.
This estimate, dated January 6, 2009 and intended for use only during
the 2009 Legislative Session, is Fiscal Note No. 2009-72, prepared by
the Actuary for the New York State and Local Police and Fire Retirement
System.
