New York State Assembly

 
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A06529 Summary:

A06529 Actions:

A06529 Committee Votes:

Committee:GOVERNMENTAL EMPLOYEES   Chair:Abbate      
DATE:05/23/2017AYE/NAY:14/0  Action: Favorable refer to committee Ways and Means        
Abbate
Aye
Malliotakis
Aye
Aubry
Aye
Johns
Aye
Colton
Aye
Palumbo
Aye
Cusick
Aye
Crouch
Aye
Zebrowski
Aye
DenDekker
Aye
Santabarbara
Aye
Brindisi
Aye
D'Urso
Aye
Pheffer Amato
Aye

Committee:WAYS AND MEANS   Chair:Farrell      
DATE:06/06/2017AYE/NAY:32/1  Action: Favorable refer to committee Rules        
Farrell
Aye
Oaks
Aye
Lentol
Aye
Crouch
Aye
Schimminger
Aye
Barclay
Aye
Gantt
Excused
Fitzpatrick
Nay
Weinstein
Aye
Hawley
Aye
Glick
Aye
Malliotakis
Aye
Nolan
Aye
Walter
Aye
Pretlow
Aye
Montesano
Aye
Perry
Aye
Curran
Aye
Colton
Excused
Ra
Aye
Cook
Aye
Cahill
Aye
Aubry
Aye
Hooper
Aye
Thiele
Aye
Cusick
Aye
Ortiz
Aye
Benedetto
Aye
Moya
Aye
Weprin
Aye
Rodriguez
Aye
Ramos
Aye
Braunstein
Aye
McDonald
Aye
Rozic
Aye

Committee:RULES   Chair:Heastie      
DATE:06/07/2017AYE/NAY:28/0  Action: Favorable         
Heastie
Aye
Kolb
Excused
Gottfried
Aye
Oaks
Aye
Lentol
Aye
Butler
Aye
Farrell
Aye
Crouch
Aye
Gantt
Aye
Finch
Aye
Nolan
Aye
Barclay
Aye
Weinstein
Aye
Raia
Aye
Hooper
Excused
Hawley
Aye
Ortiz
Aye
Pretlow
Aye
Cook
Aye
Glick
Aye
Morelle
Aye
Aubry
Aye
Englebright
Aye
Dinowitz
Aye
Colton
Aye
Magnarelli
Excused
Perry
Aye
Galef
Aye
Paulin
Aye
Titus
Aye
Peoples-Stokes
Aye

A06529 Floor Votes:

A06529 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6529
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 9, 2017
                                       ___________
 
        Introduced  by M. of A. JENNE -- read once and referred to the Committee
          on Governmental Employees
 
        AN ACT to authorize Peter G. LaSala  to  elect  to  participate  in  the
          optional  twenty-year  retirement plan for police officers employed by
          the village of Potsdam in the county of St. Lawrence

          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 Potsdam, in the county of St. Lawrence, 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 police officers employed by such village, is
     7  hereby authorized to make participation in such plan available to  Peter
     8  G.  LaSala,  a police officer employed by such village, 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. There-
    11  after,  Peter  G.  LaSala  may  elect to be covered by the provisions of
    12  section 384-d of the retirement and social security law,  and  shall  be
    13  entitled  to the full rights and benefits associated with coverage under
    14  such section as well as section 384-e of such law, by filing  a  request
    15  to  that  effect  with  the  state comptroller on or before December 31,
    16  2017.
    17    §  2.  All  past  service  costs  associated  with  implementing   the
    18  provisions  of this act shall be borne by the village of Potsdam and may
    19  be amortized over a period of ten years.
    20    § 3. This act shall take effect immediately.
          FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
          This bill will allow the Village of Potsdam to reopen  the  provisions
        of  Sections  34-d, along with 384-e for police officer Peter LaSala. He
        is the only member that will be affected.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02563-03-7
        A. 6529                             2
 
          If this legislation is enacted during the 2017 legislative session, we
        anticipate that there will be an increase of approximately $3,500 in the
        annual contributions of the Village  of  Potsdam  for  the  fiscal  year
        ending March 31, 2018. In future years, this cost will vary as the bill-
        ing rates and salaries of Peter LaSala change.
          In addition to the annual contributions discussed above, there will be
        a one-time past service cost of $7,320 which will be borne by Village of
        Potsdam  as  a  one-time  payment, assuming that payment will be made on
        February 1, 2018. If the village of Potsdam elects to amortize this cost
        over a 10 year period, the past service cost for the first year would be
        approximately $970.
          Summary of relevant resources:
          The membership data used in  measuring  the  impact  of  the  proposed
        change  was  the same as that used in the March 31, 2016 actuarial valu-
        ation.  Distributions and other statistics can  be  found  in  the  2016
        Report  of  the  Actuary  and  the  2016  Comprehensive Annual Financial
        Report.
          The actuarial assumptions and methods used are described in  the  2015
        and  2016 Annual Report to the Comptroller on Actuarial Assumptions, 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, 2016
        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 estimate, dated February 14, 2017,  and  intended  for  use  only
        during  the  2017  Legislative  Session,  is  Fiscal  Note  No. 2017-34,
        prepared by the Actuary for the New  York  State  and  Local  Retirement
        System.