BILL NO A06687
SAME AS SAME AS S04662
SPONSOR Lifton
COSPNSR
MLTSPNSR
Authorizes the city of Ithaca, in the county of Tompkins to offer an optional
twenty year retirement plan to firefighter James Crowley.
BILL NO A06687
04/12/2013 referred to governmental employees
06/04/2013 reported referred to ways and means
06/05/2013 reported referred to rules
06/10/2013 reported
06/10/2013 rules report cal.136
06/10/2013 ordered to third reading rules cal.136
06/12/2013 home rule request
06/12/2013 passed assembly
06/12/2013 delivered to senate
06/12/2013 REFERRED TO CIVIL SERVICE AND PENSIONS
06/13/2013 SUBSTITUTED FOR S4662
06/13/2013 3RD READING CAL.1350
06/13/2013 HOME RULE REQUEST
06/13/2013 PASSED SENATE
06/13/2013 RETURNED TO ASSEMBLY
S T A T E O F N E W Y O R K
________________________________________________________________________
6687
2013-2014 Regular Sessions
I N A S S E M B L Y
April 12, 2013
___________
Introduced by M. of A. LIFTON -- read once and referred to the Committee
on Governmental Employees
AN ACT to authorize the city of Ithaca, in the county of Tompkins to
offer an optional twenty year retirement plan to firefighter James
Crowley
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 contra-
2 ry, the city of Ithaca, in the county of Tompkins, a participating
3 employer in the New York state and local police and fire retirement
4 system, which previously elected to offer the optional twenty year
5 retirement plan, established pursuant to section 384-d of the retirement
6 and social security law, to firefighters employed by such city, is here-
7 by authorized to make participation in such plan available to James
8 Crowley, a firefighter employed by the city of Ithaca, who, for reasons
9 not ascribable to his own negligence, failed to make a timely applica-
10 tion to participate in such optional twenty year retirement plan. The
11 city of Ithaca may so elect by filing with the state comptroller, on or
12 before December 31, 2014, a resolution of its common council together
13 with certification that such firefighter did not bar himself from
14 participation in such retirement plan as a result of his own negligence.
15 Thereafter, such firefighter may elect to be covered by the provisions
16 of section 384-d of the retirement and social security law, and shall be
17 entitled to the full rights and benefits associated with coverage under
18 such section, by filing a request to that effect with the state comp-
19 troller on or before June 30, 2015.
20 S 2. All past service costs associated with implementing the
21 provisions of this act shall be borne by the city of Ithaca.
22 S 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09966-03-3
A. 6687 2
This bill will allow the City of Ithaca to reopen the provisions of
Section 384-d of the Retirement and Social Security Law for firefighter
James M. Crowley.
If this legislation is enacted during the 2013 legislative session, we
anticipate that there will be an increase of approximately $6,400 in the
annual contributions of the City of Ithaca for the fiscal year ending
March 31, 2014.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $93,100, which would be
borne by the City of Ithaca as a one-time payment. This estimate is
based on the assumption that payment will be made on February 1, 2014.
Summary of relevant resources:
Data: March 31, 2012 Actuarial Year End File with distributions of
membership and other statistics displayed in the 2012 Report of the
Actuary and 2012 Comprehensive Annual Financial Report.
Assumptions and Methods: 2010, 2011 and 2012 Annual Report to the
Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the
State of New York: Audit and Control.
Market Assets and GASB Disclosures: March 31, 2012 New York State and
Local Retirement System Financial Statements and Supplementary Informa-
tion.
Valuations of Benefit Liabilities and Actuarial Assets: summarized in
the 2012 Actuarial Valuations report.
I am a member of the American Academy of Actuaries and meet the Quali-
fication Standards to render the actuarial opinion contained herein.
This estimate, dated March 28, 2013 and intended for use only during
the 2013 Legislative Session, is Fiscal No. 2013-110, prepared by the
Actuary for the New York State and Local Employees' Retirement System.
