Bill Text: NY S06716 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to recalculation of earned benefits for certain members enrolled in an optional retirement plan.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2016-06-17 - COMMITTED TO RULES [S06716 Detail]

Download: New_York-2015-S06716-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6716
                    IN SENATE
                                    February 9, 2016
                                       ___________
        Introduced  by  Sens.  CROCI,  BOYLE,  LAVALLE -- read twice and ordered
          printed, 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
          recalculation of earned benefits for certain members  enrolled  in  an
          optional retirement plan
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 384-d of the retirement and social security law  is
     2  amended by adding a new subdivision z to read as follows:
     3    z.  Notwithstanding  any  other  provision  to  the  contrary, retired
     4  members, who were employed by the county  of  Suffolk,  a  participating
     5  employer  in  the  New  York  state and local police and fire retirement
     6  system, which previously elected  to  offer  the  optional  twenty  year
     7  retirement  plan,  established  pursuant  to  this section, and who were
     8  employed as police officers by such  county  pursuant  to  a  collective
     9  bargaining agreement as of the first of January, two thousand eleven and
    10  separated  from  service  prior  to  the  first  of  April, two thousand
    11  fifteen, upon election of such county, shall have any  amounts  paid  as
    12  compensatory  time upon the members' separation pursuant to the then-ex-
    13  isting collective bargaining agreement included in  the  calculation  of
    14  their  final  average salary. The county of Suffolk may elect to provide
    15  additional benefits pursuant to this  subdivision  by  filing  with  the
    16  state comptroller, on or before, the thirty-first of December, two thou-
    17  sand  sixteen, by resolution of its local legislative body.  Thereafter,
    18  such police officers may elect to have their retirement benefit recalcu-
    19  lated pursuant to this section and shall be entitled to full rights  and
    20  benefits associated with coverage under this section effective as of the
    21  date  of  their retirement, by filing a request  to that effect with the
    22  state comptroller on or before  the  thirtieth  of  June,  two  thousand
    23  seventeen.
    24    §   2.  All  past  service  costs  associated  with  implementing  the
    25  provisions of this act shall be borne by the county of Suffolk  and  may
    26  be amortized over a period of ten years.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13968-02-6