Bill Text: NY A05852 | 2021-2022 | General Assembly | Introduced

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Bill Title: Authorizes Scott Berger to receive certain service credit under section 384-d of the retirement and social security law.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - referred to governmental employees [A05852 Detail]

Download: New_York-2021-A05852-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5852

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                      March 1, 2021
                                       ___________

        Introduced  by  M.  of  A.  BUTTENSCHON -- read once and referred to the
          Committee on Governmental Employees

        AN ACT to authorize Scott Berger 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:

     1    Section 1. Notwithstanding any other provision of law to the contrary,
     2  Scott  Berger,  a member of the New York state and local police and fire
     3  retirement system, who was employed as a police officer with the village
     4  of Frankfort, from May 5, 2000 through December, 2002, and who,  through
     5  no  fault of his own, failed to file a timely application to participate
     6  in the special twenty-year retirement plan contained in section 384-d of
     7  the retirement and social security law resulting in the crediting of his
     8  service with the village of Frankfort in  the  general  retirement  plan
     9  contained  in  section  375-c of such law, shall be granted such service
    10  credit under section 384-d of the retirement and social security law for
    11  his period of employment with  the  village  of  Frankfort,  provided  a
    12  request  to  that  effect is filed with the state comptroller within one
    13  year from the effective date of this act.
    14    § 2. All employer past service costs associated with implementing  the
    15  provisions  of  this  act shall be borne by the village of Frankfort and
    16  may be amortized over a period of ten years.
    17    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would grant Scott Berger, 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 together with 384-e  of
        the Retirement and Social Security Law for time worked as a police offi-
        cer  with  the  Village of Frankfort between May 2000 and December 2002.
        Such service is currently creditable only in the age 55 retirement  plan
        of  section  375-c.  Officer Berger is currently employed by the City of

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03523-02-1
        A. 5852                             2

        Utica and covered under the provisions of section  384-d  together  with
        384-e.
          If  this  bill  is  enacted during the 2021 legislative session, there
        will be an immediate past service cost of  approximately  $34,900  which
        will  be  borne  by the Village of Frankfort as a one-time payment. This
        estimate is based on the assumption that payment will be made on  Febru-
        ary  1, 2022.   If the Village of Frankfort elects to amortize this cost
        over a 10 year period, the cost for the first  year  including  interest
        would be $4,620.
          There  will  be no increase in the annual contributions of the City of
        Utica.
          Summary of relevant resources:
          Membership data as of March 31, 2020 was used in measuring the  impact
        of the proposed change, the same data used in the April 1, 2020 actuari-
        al  valuation.  Distributions  and  other statistics can be found in the
        2020 Report of the Actuary and the 2020 Comprehensive  Annual  Financial
        Report.
          The  actuarial  assumptions and methods used are described in the 2020
        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, 2020
        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  January  29,  2021,  and intended for use only
        during the  2021  Legislative  Session,  is  Fiscal  Note  No.  2021-57,
        prepared  by  the  Actuary  for  the New York State and Local Retirement
        System.