Bill Text: NY S05378 | 2011-2012 | General Assembly | Introduced
Bill Title: Provides that an individual who became a tier III or a tier V member of the New York state and local police and fire retirement system between July 1, 2009 and March 31, 2012 and whose employer has elected to make available the optional twenty year provisions of section 384-d to its employees and who is not subject to a collective bargaining agreement, would be eligible to participate in an optional 20 year retirement plan.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Introduced - Dead) 2012-06-12 - COMMITTEE DISCHARGED AND COMMITTED TO RULES [S05378 Detail]
Download: New_York-2011-S05378-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
5378
2011-2012 Regular Sessions
I N S E N A T E
May 13, 2011
___________
Introduced by Sens. GALLIVAN, GRISANTI -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Civil Service
and Pensions
AN ACT to amend the retirement and social security law, in relation to
allowing certain firefighters of the city of Buffalo, the city of
Niagara Falls and the Niagara frontier transportation authority to
participate in an optional 20 year retirement plan in certain circum-
stances
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. The retirement and social security law is amended by adding
2 a new section 384-f to read as follows:
3 S 384-F. OPTIONAL TWENTY YEAR RETIREMENT PLAN FOR CITY OF BUFFALO
4 FIREFIGHTERS, THE CITY OF NIAGARA FALLS FIREFIGHTERS AND THE NIAGARA
5 FRONTIER TRANSPORTATION AUTHORITY FIREFIGHTERS. NOTWITHSTANDING ANY
6 OTHER PROVISIONS OF THIS CHAPTER, ANY MEMBER OF THE RETIREMENT SYSTEM
7 WHO IS A FIREFIGHTER EMPLOYED BY THE FIRE DEPARTMENTS OF THE CITY OF
8 BUFFALO, THE CITY OF NIAGARA FALLS OR THE NIAGARA FRONTIER TRANSPORTA-
9 TION AUTHORITY, AND WHOSE MEMBERSHIP IN THE RETIREMENT SYSTEM COMMENCED
10 BETWEEN JULY FIRST, TWO THOUSAND NINE AND THE ENACTMENT OF THIS SECTION,
11 SHALL BE A PARTICIPANT IN THE OPTIONAL TWENTY YEAR RETIREMENT PLAN
12 ESTABLISHED BY SECTION THREE HUNDRED EIGHTY-FOUR-E OF THIS TITLE PRIOR
13 TO DECEMBER THIRTY-FIRST, TWO THOUSAND ELEVEN. DURING SUCH TIME PERIOD,
14 SUCH FIREFIGHTER SHALL NOT BE REQUIRED TO CONTRIBUTE TO THE RETIREMENT
15 SYSTEM.
16 S 2. This act shall take effect immediately.
FISCAL NOTE.-- This bill will provide that any firefighter employed by
the City of Buffalo, the City of Niagara Falls or the Niagara Frontier
Transportation Authority who was hired between July 1, 2009 and the date
of enactment of this legislation will be covered by the provisions of
Section 384-e of the Retirement and Social Security Law. In addition,
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07834-07-1
S. 5378 2
this legislation will provide that no such firefighter shall be required
to contribute to the retirement system.
If this bill is enacted, the City of Buffalo, the City of Niagara
Falls and the Niagara Frontier Transportation Authority will pay annual
employer contributions based on the Section 384-e plan without any
member contributions, instead of their current coverage. As a result, we
anticipate that their annual employer contributions will increase by
approximately 3.3% of the affected firefighters annual salary for the
fiscal year ending March 31, 2012.
This estimate, dated May 12, 2011, and intended for use only during
the 2011 Legislative Session, is Fiscal Note No. 2011-180, prepared by
the Actuary for the New York State and Local Police and Fire Retirement
System.
