Bill Text: NY S04715 | 2023-2024 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Authorizes the village of Dobbs Ferry to offer an optional twenty-year retirement plan to Gabriel Bonilla, former police officer employed by such village.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2023-11-17 - SIGNED CHAP.659 [S04715 Detail]

Download: New_York-2023-S04715-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          4715

                               2023-2024 Regular Sessions

                    IN SENATE

                                    February 13, 2023
                                       ___________

        Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
          and when printed to be committed to the Committee on Civil Service and
          Pensions

        AN ACT to authorize the village of Dobbs  Ferry  to  offer  an  optional
          twenty-year  retirement  plan  to  a  certain  police officer formerly
          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  Gabriel  Bonilla,  a  member  of the New York state and local police and
     3  fire retirement system, who is currently employed by Westchester county,
     4  who was employed as a police officer with the  village  of  Dobbs  Ferry
     5  from December of 2005 through January of 2015, and who, through no fault
     6  of  his  own,  failed to file a timely application to participate in the
     7  special twenty-year retirement plan contained in section  384-d  of  the
     8  retirement  and  social  security law, shall be given full credit in the
     9  special twenty-year retirement plan contained in section  384-d  of  the
    10  retirement and social security law for such service upon the election of
    11  Dobbs  Ferry  to assume the additional cost of such service. The village
    12  of Dobbs Ferry may so elect by filing with  the  state  comptroller,  no
    13  later than one year from the effective date of this act, a resolution of
    14  its  local legislative body together with certification that such police
    15  officer did not bar himself from participation in such  retirement  plan
    16  as  a  result of his own negligence. Thereafter, such police officer may
    17  elect to be covered by the provisions of section 384-d of the retirement
    18  and social security law, and shall be entitled to the  full  rights  and
    19  benefits  associated  with  coverage  under  such  section,  by filing a
    20  request to that effect with the state comptroller no later than one year
    21  from the effective date of this act.
    22    § 2. All costs associated with implementing the provisions of this act
    23  shall be borne by the village of Dobbs Ferry.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06211-03-3
        S. 4715                             2

     1    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would grant Gabriel Bonilla, a Tier 2 member of the New York
        State  and  Local  Police and Fire Retirement System, additional service
        creditable under the provisions of section 384-d of the  Retirement  and
        Social  Security  Law  (RSSL) for time worked as a police officer of the
        Village of Dobbs Ferry. Such service is currently creditable in the  age
        55  retirement  plan of section 375-i of the RSSL but not in the 20-year
        plan of section 384-d. Gabriel Bonilla  is  currently  employed  by  the
        County of Westchester.
          If  this  bill  is  enacted during the 2023 legislative session, there
        will be an immediate past service cost of approximately  $114,000  which
        will  be borne by the Village of Dobbs Ferry as a one-time payment. This
        estimate assumes that payment will be made on February 1, 2024.
          This bill will not increase the future  annual  contributions  of  the
        County of Westchester.
          Summary of relevant resources:
          Membership  data as of March 31, 2022 was used in measuring the impact
        of the proposed change, the same data used in the April 1, 2022 actuari-
        al valuation.  Distributions and other statistics can be  found  in  the
        2022  Report  of the Actuary and the 2022 Annual Comprehensive Financial
        Report.
          The actuarial assumptions and methods used are described in the  2020,
        2021,  and  2022  Annual  Report to the Comptroller on Actuarial Assump-
        tions, 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, 2022
        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 13, 2023,  and  intended  for  use  only
        during  the  2023  Legislative  Session,  is  Fiscal  Note  No. 2023-23,
        prepared by the Actuary for the New  York  State  and  Local  Retirement
        System.