Bill Text: NY A09108 | 2011-2012 | General Assembly | Introduced

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Bill Title: Allows Marion Hoffman to file a request for Tier I status in the New York State and Local Police and Fire Retirement System with the state comptroller.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2012-01-25 - referred to governmental employees [A09108 Detail]

Download: New_York-2011-A09108-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         9108
                                 I N  A S S E M B L Y
                                   January 25, 2012
                                      ___________
       Introduced by M. of A. CAHILL -- read once and referred to the Committee
         on Governmental Employees
       AN ACT in relation to allowing Marion Hoffman to file a request for Tier
         I  status  in  the New York state and local police and fire retirement
         system with the state comptroller
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. Notwithstanding any inconsistent provisions of law, Marion
    2  Hoffman, a retired member of the New York state  and  local  police  and
    3  fire  retirement system who was employed with the New York state depart-
    4  ment of environmental  conservation  as  an  environmental  conservation
    5  officer  for  approximately  thirty-six  years  and who, for reasons not
    6  ascribable to her own negligence, did not become a  member  of  the  New
    7  York  state  and local police and fire retirement system, at the time of
    8  her hiring, shall be deemed to have become a member of such system as of
    9  June 14, 1973 entitling her to Tier I status with every  right,  benefit
   10  and privilege which would have been available to her on such date.
   11    S 2. This act shall take effect immediately.
         FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
         This bill will deem Marion J. Hoffman, a retired Environmental Conser-
       vation  Officer, to have first become a member of the New York State and
       Local Police and Fire Retirement System on June 14, 1973, thereby  enti-
       tling her to the benefits of a Tier 1 retiree.
         If this legislation is enacted during the 2012 legislative session, we
       anticipate  there will be a past service cost of approximately $143,000,
       which will be shared by the State of New York and all the  participating
       employers in the New York State and Local Police and Fire Retirement.
         Summary of relevant resources:
         Data:  March  31,  2011  Actuarial Year End File with distributions of
       membership and other statistics displayed in  the  2011  Report  of  the
       Actuary and 2011 Comprehensive Annual Financial Report.
         Assumptions  and  Methods:  2010  and  2011 Annual Report to the Comp-
       troller on Actuarial Assumptions, Codes Rules  and  Regulations  of  the
       State of New York: Audit and Control.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00892-06-2
       A. 9108                             2
         Market  Assets and GASB Disclosures: March 31, 2011 New York State and
       Local Retirement System Financial Statements and Supplementary  Informa-
       tion.
         Valuations  of Benefit Liabilities and Actuarial Assets: summarized in
       the 2011 Actuarial Valuations report.
         I am a member of the American Academy of Actuaries and meet the Quali-
       fication Standards to render the actuarial opinion contained herein.
         This estimate, dated January 6, 2012 and intended for use only  during
       the  2012  Legislative  Session, is Fiscal Note No. 2012-41, prepared by
       the Actuary for the New York State and Local Police and Fire  Retirement
       System.