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S06309 Summary:

S06309 Actions:

S06309 Committee Votes:

S06309 Floor Votes:

S06309 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6309
 
                    IN SENATE
 
                                       (Prefiled)
 
                                     January 6, 2016
                                       ___________
 
        Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions
 
        AN ACT to authorize the county of Livingston to offer an optional  twen-
          ty-five year retirement plan to certain deputy sheriffs

          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 county of Livingston, a participating employer in the New York state
     3  and local employees' retirement  system,  which  previously  elected  to
     4  offer the optional twenty-five year retirement plan established pursuant
     5  to  subdivision  e  of section 551 of the retirement and social security
     6  law, to deputy sheriffs employed by such county, is hereby authorized to
     7  make participation in such plan available to  Kevin  L.  Geer,  John  W.
     8  Morgan, Jeffrey D. Wiedrick, Phyllis A. Applin, Matthew D. Orman, Joseph
     9  J.  Breu,  Ross  L.  Gerace, Menzo A. Peck, Chad J. VanAuken, Rebecca J.
    10  Kane, Martin C.  Herkimer, Stephanie L. Schroeder,  Shawn  S.  Whitford,
    11  Wayne  M.  Swede,  Christopher  J.    Brosius, Michael R. Wade, Caleb I.
    12  Cutting, and Arick C. Perkins, deputy sheriffs employed by the county of
    13  Livingston, who, for reasons not  ascribable  to  their  own  negligence
    14  failed  to make timely application to participate in such optional twen-
    15  ty-five year retirement plan. The county of Livingston may so  elect  by
    16  filing  with  the  state  comptroller, on or before December 31, 2016, a
    17  resolution of the Livingston county legislature  together  with  certif-
    18  ication  that  such  deputy sheriffs did not bar themselves from partic-
    19  ipation in such retirement plan as a result  of  their  own  negligence.
    20  Thereafter,  such  deputy  sheriffs  may  elect  to  be  covered  by the
    21  provisions of subdivision e of section 551 of the retirement and  social
    22  security  law,  and  shall  be  entitled to the full rights and benefits
    23  associated with coverage under such subdivision, by filing a request  to
    24  that effect with the state comptroller on or before June 30, 2017.
    25    §   2.  All  past  service  costs  associated  with  implementing  the
    26  provisions of this act shall be borne by the county of Livingston.
    27    § 3. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11995-02-5
        S. 6309                             2
 
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  allow Livingston County to reopen the provisions of
        Sections 551 and 551e of the Retirement and Social Security Law  for  18
        of its deputy sheriffs.
          If this bill is enacted during the 2016 legislative session, we antic-
        ipate  that  there  will  be an increase of approximately $42,500 in the
        annual contributions of Livingston County for  the  fiscal  year  ending
        March  31,  2017.  In  future  years, this cost will vary as the billing
        rates and salaries of those affected change
          In addition to the annual contributions discussed above, there will be
        an immediate past service cost of approximately $171,000, which would be
        borne by Livingston County as a one-time payment. This estimate is based
        on the assumption that payment will be made on February 1, 2017.
          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, 2015 actuarial valu-
        ation.  Distributions and other statistics can  be  found  in  the  2015
        Report  of  the  Actuary  and  the  2015  Comprehensive Annual Financial
        Report.
          The actuarial assumptions and methods used are described in  the  2015
        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, 2015
        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 December 4,  2015,  and  intended  for  use  only
        during the 2016 Legislative Session, is Fiscal Note No. 2016-8, prepared
        by  the  Actuary  for the New York State and Local Employees' Retirement
        System.