S T A T E   O F   N E W   Y O R K
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                                  4715--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 13, 2023
                                ___________
 
 Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
   and when printed to be committed to the Committee on Civil Service and
   Pensions -- committee discharged, bill amended, ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to  authorize  the  village of Dobbs Ferry to offer an optional
   twenty-year retirement plan  to  a  certain  police  officer  formerly
   employed by such village
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Notwithstanding any other provision of law to the contrary,
 Gabriel Bonilla, a member of the New York state  and  local  police  and
 fire retirement system, who is currently employed by Westchester county,
 who  was  employed  as  a police officer with the village of Dobbs Ferry
 from December of 2005 through March 20, 2011, and who, through no  fault
 of  his  own,  failed to file a timely application to participate in the
 special twenty-year retirement plan contained in section  384-d  of  the
 retirement  and  social  security law, shall be given full credit in the
 special twenty-year retirement plan contained in section  384-d  of  the
 retirement and social security law for such service upon the election of
 Dobbs  Ferry  to assume the additional cost of such service. The village
 of Dobbs Ferry may so elect by filing with  the  state  comptroller,  no
 later than one year from the effective date of this act, a resolution of
 its  local legislative body together with certification that such police
 officer did not bar himself from participation in such  retirement  plan
 as  a  result of his own negligence. Thereafter, such police officer may
 elect to be covered by the provisions of section 384-d of the retirement
 and social security law, and shall be entitled to the  full  rights  and
 benefits  associated  with  coverage  under  such  section,  by filing a
 request to that effect with the state comptroller no later than one year
 from the effective date of this act.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06211-05-3
 S. 4715--A                          2
              

 
   § 2. All costs associated with implementing the provisions of this act
 shall be borne by the village of Dobbs Ferry.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would grant Gabriel Bonilla, a Tier 2 member of the New York
 State  and  Local  Police and Fire Retirement System, additional service
 creditable under the provisions of section 384-d of the  Retirement  and
 Social  Security  Law  (RSSL) for time worked as a police officer of the
 Village of Dobbs Ferry. Such service is currently creditable in the  age
 55  retirement  plan of section 375-i of the RSSL but not in the 20-year
 plan of section 384-d. Gabriel Bonilla  is  currently  employed  by  the
 County of Westchester.
   If  this  bill  is  enacted during the 2023 legislative session, there
 will be an immediate past service cost of approximately  $114,000  which
 will  be borne by the Village of Dobbs Ferry as a one-time payment. This
 estimate assumes that payment will be made on February 1, 2024.
   This bill will not increase the future  annual  contributions  of  the
 County of Westchester.
   Summary of relevant resources:
   Membership  data as of March 31, 2022 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2022 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2022  Report  of the Actuary and the 2022 Annual Comprehensive Financial
 Report.
   The actuarial assumptions and methods used are described in the  2020,
 2021,  and  2022  Annual  Report to the Comptroller on Actuarial Assump-
 tions, 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, 2022
 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 fiscal note does not constitute a legal opinion on the  viability
 of  the  proposed change nor is it intended to serve as a substitute for
 the professional judgment of an attorney.
   This estimate, dated March 3, 2023, and intended for use  only  during
 the  2023  Legislative  Session, is Fiscal Note No. 2023-84, prepared by
 the Actuary for the New York State and Local Retirement System.