S T A T E   O F   N E W   Y O R K
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                                  2999

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              March 9, 2009
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions

AN ACT to amend the retirement and social security law, in  relation  to
  retirement  plans  for  sheriffs,  undersheriffs,  deputy  sheriffs or
  correction officers

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The retirement and social security law is amended by adding
a new section 89-x to read as follows:
  S  89-X.  OPTION  TO  ELECT TO PROVIDE SHERIFFS, UNDERSHERIFFS, DEPUTY
SHERIFFS OR CORRECTION OFFICERS WITH AN ADDITIONAL RETIREMENT ALLOWANCE.
A. UPON THE COMPLETION OF TWENTY-FIVE YEARS OF TOTAL CREDITABLE  SERVICE
AND UPON RETIREMENT, EACH MEMBER COVERED BY A PLAN THAT PROVIDES RETIRE-
MENT  OF SHERIFFS, UNDERSHERIFFS, DEPUTY SHERIFFS OR CORRECTION OFFICERS
UPON COMPLETION OF TWENTY-FIVE YEARS OF CREDITABLE SERVICE SHALL RECEIVE
FOR EACH YEAR OF CREDITABLE SERVICE IN EXCESS OF TWENTY-FIVE,  AN  ADDI-
TIONAL  RETIREMENT  ALLOWANCE  EQUAL TO ONE-SIXTIETH OF HIS OR HER FINAL
AVERAGE SALARY FOR EACH SUCH YEAR OF SUCH  SERVICE;  PROVIDED,  HOWEVER,
THAT  THIS  BENEFIT  SHALL  BE AVAILABLE ONLY AFTER THE COUNTY EMPLOYING
SUCH MEMBER ELECTS SPECIFICALLY TO PROVIDE THIS BENEFIT.  HOWEVER, IN NO
EVENT SHALL PENSIONS PROVIDED PURSUANT TO THE PROVISIONS OF THIS SECTION
EXCEED THREE-QUARTERS OF SUCH MEMBER'S FINAL AVERAGE SALARY.
  B. THIS  ADDITIONAL  BENEFIT  SHALL  APPLY  TO  ALL  ELIGIBLE  MEMBERS
NOTWITHSTANDING THEIR DATE OF MEMBERSHIP.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill  will allow a county which has adopted a 25 year retirement
plan for its sheriffs, undersheriffs,  deputy  sheriffs  and  correction
officers  to  elect  to provide an additional benefit of one-sixtieth of
final average salary per year of service in excess of 25 years for  such

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07394-02-9

              

S. 2999                             2

employees.  Members  will be limited to a maximum of 15 additional years
of service.
  If this bill is enacted, it is estimated that, as a percentage of pay,
there  will be an increase in the annual contributions of adopting coun-
ties of approximately 0.3% of the affected members' annual salaries  for
the fiscal year ending March 31, 2010.
  In  addition  to the increase in annual contributions discussed above,
there will be immediate past service costs for  counties  electing  this
benefit.  These costs would depend on the current salary, age and length
of service of the affected employees and would be borne by the  electing
counties  as  one-time payments. We expect the average past service cost
to be approximately 10% of the affected members' salary.
  This estimate, dated February 4,  2009,  and  intended  for  use  only
during  the  2009  Legislative  Session,  is  Fiscal  Note No. 2009-128,
prepared by the Actuary for the New  York  State  and  Local  Employees'
Retirement System.