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S01091 Summary:

S01091 Actions:

S01091 Committee Votes:

S01091 Floor Votes:

S01091 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         1091--A
            Cal. No. 158
 
                               2021-2022 Regular Sessions
 
                    IN SENATE
 
                                     January 6, 2021
                                       ___________
 
        Introduced  by  Sens. GAUGHRAN, BROOKS, COMRIE, HINCHEY, MANNION -- read
          twice and ordered printed, and when printed to  be  committed  to  the
          Committee  on Local Government -- reported favorably from said commit-
          tee, ordered to first and second report, ordered to a  third  reading,
          amended  and  ordered  reprinted,  retaining its place in the order of
          third reading
 
        AN ACT to amend the general municipal law, in relation to authorizing  a
          municipality to increase the number of years of service that a partic-
          ipant  in  a  defined  contribution  plan  service  award program or a
          defined benefit plan service award program may receive a contribution
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subdivision  (b)  of section 218 of the general municipal
     2  law, as amended by chapter 474 of the laws of 2019, is amended  to  read
     3  as follows:
     4    (b) The sponsor of a defined contribution plan shall contribute to the
     5  plan a fixed amount of money, as determined by the sponsor, on behalf of
     6  each participant who is credited with a year of service. The minimum and
     7  maximum  contribution  requirements  for  a defined contribution service
     8  award program shall be as follows. The minimum contribution shall be one
     9  hundred twenty dollars per year of  service.  The  maximum  contribution
    10  shall  be twelve hundred dollars per year of service. The maximum number
    11  of years of service for which a participant may receive  a  contribution
    12  shall  be  forty years. The sponsor shall appropriate annually an amount
    13  sufficient to pay the contributions.  The governing board of a political
    14  subdivision may extend the maximum number of years of service for  which
    15  a  participant  may  receive  a contribution for up to an additional ten
    16  years, to a maximum of fifty years, and such increases in the number  of
    17  years  may be added in multiple increments or in a single action, pursu-
    18  ant to the adoption of the required resolution  or  resolutions  of  the
    19  governing  board,  receiving  the  affirmative  vote  of  at least sixty
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04001-02-1
        S. 1091--A                          2
 
     1  percent of the governing board of the  political  subdivision,  and  the
     2  approval of any mandatory referendum or referenda authorizing the exten-
     3  sion  of benefits under the program by eligible voters within such poli-
     4  tical subdivision.
     5    §  2.  Subdivision (b) of section 219 of the general municipal law, as
     6  amended by chapter 452 of the laws  of  2004,  is  amended  to  read  as
     7  follows:
     8    (b)  The  minimum  and  maximum  retirement benefit requirements for a
     9  service award program that is a defined benefit plan shall be defined as
    10  follows. Each participating active volunteer firefighter shall be  enti-
    11  tled  to  a  minimum service award benefit of five dollars per month for
    12  each  year  of  firefighting  service  completed  after  satisfying  the
    13  program's   eligibility  requirement  and  after  establishment  of  the
    14  program. The maximum benefit amount payable to  a  participating  active
    15  volunteer  firefighter  entitled to a benefit shall be determined on the
    16  basis of an actuarial valuation. The valuation shall take  into  account
    17  the age, and such other factors as the actuary deems appropriate, of the
    18  eligible  participating  active volunteer firefighters and the amount of
    19  available financing available per active covered volunteer  firefighter.
    20  The  maximum  service  award  under  a  service award program shall be a
    21  monthly payment, payable for life, that does not exceed an amount  equal
    22  to  thirty  dollars for each year of firefighting service credited under
    23  the terms of the program to a maximum of  forty  years  of  firefighting
    24  service.   The governing board of a political subdivision may extend the
    25  maximum number of years of service for which a participant may receive a
    26  contribution for up to an additional ten years, to a  maximum  of  fifty
    27  years,  and such increases in the number of years may be added in multi-
    28  ple increments or in a single action, pursuant to the  adoption  of  the
    29  required resolution or resolutions of the governing board, receiving the
    30  affirmative vote of at least sixty percent of the governing board of the
    31  political  subdivision,  and the approval of any mandatory referendum or
    32  referenda authorizing the extension of benefits  under  the  program  by
    33  eligible voters within such political subdivision.
    34    §  3.  This  act  shall take effect immediately and shall apply to all
    35  current and future participants.