New York A 7978: Authorizes Kevin Burns to receive certain service credit under a twenty year retirement plan

Bill Text

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A07978 Summary:

BILL NOA07978 

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SAME ASNo Same As

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SPONSORLupardo

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COSPNSR

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MLTSPNSR

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Authorizes Kevin Burns to receive certain service credit under a twenty year retirement plan for service with the Binghamton Fire Department.

Go to top A07978 Actions:

BILL NOA07978 

&nbsp

04/16/2025referred to governmental employees

01/07/2026referred to governmental employees

Go to topA07978 Committee&nbspVotes:

Go to topA07978 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA07978 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7978

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 16, 2025
 ___________

 Introduced by M. of A. LUPARDO -- read once and referred to the Commit-
 tee on Governmental Employees

 AN ACT in relation to authorizing Kevin Burns to receive certain service
 credit under a twenty year retirement plan

 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 Kevin Burns, a member of the New York state and local police and fire
 3 retirement system, who was appointed as a firefighter with the Bingham-
 4 ton Fire Department, in the city of Binghamton, county of Broome, on
 5 August 1, 2005, and who, through no fault of his own, was enrolled to
 6 participate in the special twenty-five year retirement plan contained in
 7 section 384 of the retirement and social security law, shall be given
 8 full credit in the special twenty year retirement plan contained in
 9 section 384-d of the retirement and social security law for such service
 10 upon the election of the city of Binghamton to assume the additional
 11 cost of such service. The city of Binghamton may so elect by filing with
 12 the state comptroller within 180 days of the effective date of this act,
 13 a resolution of its legislative body, together with certification that
 14 such firefighter did not bar himself from participation in such retire-
 15 ment plan as a result of his own negligence. Thereafter, such firefight-
 16 er may elect to be covered by the provisions of section 384-d of the
 17 retirement and social security law, and shall be entitled to the full
 18 rights and benefits associated with coverage under such section, by
 19 filing a request to such effect with the state comptroller within one
 20 year of the effective date of this act.
 21 § 2. All past service costs associated with implementing the
 22 provisions of this act shall be borne by the city of Binghamton, in the
 23 county of Broome, and may be amortized over a ten year period.
 24 § 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09866-03-5

 A. 7978 2

 This bill would allow the City of Binghamton to reopen the provisions
 of section 384-d of the Retirement and Social Security Law for fire-
 fighter Kevin Burns.
 If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate that there will be an increase of approximately $5,400 in the
 annual contributions of the City of Binghamton for the fiscal year
 ending March 31, 2026. In future years this cost will vary as the bill-
 ing rates and salary of Kevin Burns change.
 In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $235,000 which will be
 borne by the City of Binghamton as a one-time payment. This estimate
 assumes that payment will be made on February 1, 2026. If the City of
 Binghamton elects to amortize this cost over a 10-year period, the cost
 for the first year including interest would be $30,000.
 Summary of relevant resources:
 Membership data as of March 31, 2024 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2024 actuari-
 al valuation. Distributions and other statistics can be found in the
 2024 Report of the Actuary and the 2024 Annual Comprehensive Financial
 Report. The actuarial assumptions and methods used are described in the
 2024 Annual Report to the Comptroller on Actuarial Assumptions, and the