NY State Senate Bill 2023-S9625

Senate Bill S9625

2023-2024 Legislative Session

Authorizes Scott Hoag to receive certain credit under section 384-d of the retirement and social security law

download bill text pdf

Current Bill Status - In Senate Committee Civil Service And Pensions Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 16, 2024	referred to civil service and pensions

2023-S9625 (ACTIVE) - Details

See Assembly Version of this Bill:: A10444
Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement

2023-S9625 (ACTIVE) - Summary

Authorizes Scott Hoag, a city of Rome police officer, to receive certain credit under section 384-d of the retirement and social security law.

2023-S9625 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S9625

SPONSOR: GRIFFO
 
TITLE OF BILL:

An act to authorize Scott Hoag to receive certain service credit under
section 384-d of the retirement and social security law

 
PURPOSE::

The purpose of this bill is to allow City of Rome Police Officer Scott
Hoag, who through no fault of his was unable to participate in the twen-
ty-year retirement plan contained in section 384-d of the retirement and
social security law, to participate in that plan and sets forth that all
costs shall be paid by the City of Rome.

 
SUMMARY OF PROVISIONS::

Section 1 of the bill allows Scott Hoag to retroactively participate in
the special twenty-year retirement plan through the City of Rome as the
application was not timely filed through no fault of the officer. This
section also elects that the City of Rome will file with the state comp-

troller within six months of the effective date a resolution of its
local legislative body together with a certification that the officer
did not bar himself from participation in such retirement plan.

Section 2 sets forth that all costs shall be borne by the City of Rome
and may be amortized over a ten-year period.

Section 3 establishes the effective date.

 
JUSTIFICATION::

Through no fault of his own, City of Rome Police Officer Scott Hoag was
unable to timely file an application to participate in the special twen-
ty-year retirement plan contained in section 384-d of the retirement and
social security law. This bill allows Officer Hoag to participate in the
retirement plan.

 
LEGISLATIVE HISTORY::

New Bill.

 
FISCAL IMPLICATIONS::

See fiscal note in bill.

 
EFFECTIVE DATE::

This act shall take effect immediately.

2023-S9625 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9625
 
                             I N  S E N A T E
 
                               May 16, 2024
                                ___________
 
 Introduced  by  Sen.  GRIFFO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT to authorize Scott Hoag to receive certain service  credit  under
   section 384-d of the retirement and social security law
 
   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,
 Scott Hoag, a member of the New York state and  local  police  and  fire
 retirement  system, who is employed as a police officer with the city of
 Rome, 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
 resulting  in  the crediting of his service with the city of Rome in the
 general retirement plan contained in section 375-i of such law, shall be
 given full credit in the special twenty-year retirement  plan  upon  the
 election  of  the  city  of  Rome  to assume the additional cost of such
 service credit.  The city of Rome may so elect by filing with the  state
 comptroller,  within  six  months 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 by filing a  request  to
 that effect with the state comptroller within six months from the effec-
 tive date of such resolution.
   §  2. All employer past service costs associated with implementing the
 provisions of this act shall be borne by the city of  Rome  and  may  be
 amortized over a ten-year period.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  allow  the City of Rome to reopen the provisions of
 section 384-d, together with 384-e, of the Retirement and Social Securi-
 ty Law for police officer Scott Hoag.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14466-02-4

 S. 9625                             2
 
   If this bill is enacted during the 2024 Legislative Session, we antic-
 ipate that there will be an increase of  approximately  $12,000  in  the
 annual  contributions  of  the  City  of Rome for the fiscal year ending
 March 31, 2025. In future years this cost will vary as the billing rates
 and salary of Scott Hoag change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past service cost of approximately $341,000 which will be
 borne by the City of Rome as a one-time payment. This  estimate  assumes
 that  payment  will  be  made  on  February 1, 2025. If the City of Rome
 elects to amortize this cost over a 10-year period, the  cost  for  each
 year including interest would be $43,500.
   Summary of relevant resources:
   Membership  data as of March 31, 2023 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2023 actuari-
 al valuation.  Distributions and other statistics can be  found  in  the
 2023  Report  of the Actuary and the 2023 Annual Comprehensive Financial
 Report.
   The actuarial assumptions and methods used are described in  the  2023
 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, 2023
 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 4, 2024, and intended for use  only  during
 the  2024  Legislative Session, is Fiscal Note No. 2024-129, prepared by
 the Actuary for the New York State and Local Retirement System.

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