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History
- Substituted by A7858
- Ordered to third reading cal.791
- Committee discharged and committed to rules
- Referred to civil service and pensions
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Authorizes the village of East Hampton, county of Suffolk, to offer an optional twenty year retirement plan to certain police officers
Signed by Governor · Sponsor Fred Thiele
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to authorize the village of East Hampton, in the county of Suffolk, to offer an optional twenty year retirement plan to certain police officers
Purpose
This legislation would allow the Village of East Hampton to elect to reopen the provisions of Section 384-d of the Retirement and Social Security Law for certain police officers in its employ.
Summary of provisions
Section 1 outlines the requirements for the Village of East Hampton to make participation in the optional twenty-year retirement plan available to certain police officers in its employ, who previously failed to make a timely application for this plan. It also notes that such officers must make an application to the State Comptroller to become eligible for benefits provided by Section 384-d of the Retirement and Social Security Law on or before June 30, 2010.
Section 2 notes that all employer costs associated with implementing the provisions of this act shall be borne by the Village of East Hampton over a period of five years.
Justification
This legislation would allow the Village of East Hampton to elect to reopen the provisions of Section 384-d of the Retirement and Social Security Law to certain police officers in its employ who, for reasons not ascribable to their own negligence, were not previously covered. All employer costs associated with the enactment of this legislation will be borne by the Village of East Hampton.
Legislative history
New Legislation, 2009.
Fiscal implications
The Actuary for the New York State and Local Police and Fire Retirement System anticipates an increase of approximately $6,000 in the annual contributions of the Village of East Hampton for the fiscal year ending March 31, 2010. In addition, there will be an immediate past service cost of approximately $80,100 which would be borne by the Village of East Hampton as a one-time payment assuming such payment will be made on February 1, 2010. If the Village elects, this cost may be paid, with interest, over a five-year period with an annual payments of approximately $18,600.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.