Bill Text: NY A09820 | 2013-2014 | General Assembly | Amended

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Bill Title: Grants retroactive membership with tier II status in the New York state and local police and fire retirement system to Vincent Verret.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-06-19 - substituted by s7514a [A09820 Detail]

Download: New_York-2013-A09820-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        9820--A
                                 I N  A S S E M B L Y
                                     May 23, 2014
                                      ___________
       Introduced  by M. of A. STECK -- read once and referred to the Committee
         on Governmental  Employees  --  committee  discharged,  bill  amended,
         ordered reprinted as amended and recommitted to said committee
       AN  ACT  granting  retroactive membership with tier II status in the New
         York state and local police and  fire  retirement  system  to  Vincent
         Verret
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Vincent Verret, who is currently a Tier V member of the New
    2  York state and local police and fire  retirement  system  and  currently
    3  employed  by the city of Schenectady fire department, and who was on the
    4  civil service list for the position of  Firefighter/Paramedic  with  the
    5  city  of  Schenectady  fire department which was certified on August 15,
    6  2006, and who, enlisted in the United States Marine Corps on January  8,
    7  2007  for  four  years  of active duty, through no fault of his own, was
    8  unable to notify the department of  civil  service  that  he  was  being
    9  deployed,  and while he was deployed Vincent Verret was canvassed by the
   10  city of Schenectady fire department in March 2007.  Vincent  Verret  was
   11  honorably  discharged  from the United States Marine Corps on January 7,
   12  2011 and returned to Schenectady, New  York  where  he  took  two  civil
   13  service tests and began working for the city of Schenectady fire depart-
   14  ment on March 13, 2011.
   15    Pursuant  to section 243 of the military law, any person whose name is
   16  on any eligible list shall, while in military duty, retain  his  or  her
   17  rights  and  status  on such list. If such person is reached for certif-
   18  ication during his or her military duty, his or her name shall be placed
   19  on a special list which shall afford such person with a date of  member-
   20  ship  in the retirement system on the earliest date upon which an eligi-
   21  ble person who  was  the  lower  on  the  original  eligible  list,  was
   22  appointed;  however,  service  credit  shall be computed from the actual
   23  date of appointment.
   24    Notwithstanding any law to  the  contrary,  Vincent  Verret  shall  be
   25  deemed  to  have  been  a  member  of such retirement system on the date
   26  August 19, 2007 when an eligible person who was lower  on  the  original
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD14920-07-4
       A. 9820--A                          2
    1  eligible  list  was  appointed  having  Tier II status with every right,
    2  benefit and privilege which would have been available  to  him  on  such
    3  date; however, his service credit shall be computed from the actual date
    4  of appointment.
    5    S 2. All past service costs of implementing the provisions of this act
    6  shall be borne by the city of Schenectady.
    7    S 3. This act shall take effect immediately.
         FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
         This  bill  will deem the date of membership in the New York State and
       Local Police and Fire Retirement System of Vincent T. Verret, a City  of
       Schenectady firefighter, to be August 19, 2007.
         If this legislation is enacted during the 2014 legislative session, we
       anticipate that there will be an increase of approximately $3,000 in the
       annual  contributions  of  the  City  of Schenectady for the fiscal year
       ending March 31, 2015. In future years, this cost will vary as the bill-
       ing rates and salary of Mr. Verret change.
         In addition to the annual contributions discussed above, there will be
       an immediate past service cost of approximately $10,900, which  will  be
       borne  by  the  City  of  Schenectady  as a one-time payment, assuming a
       payment date of February 1, 2015.
         Summary of relevant resources:
         The membership data used in  measuring  the  impact  of  the  proposed
       change  was  the same as that used in the March 31, 2013 actuarial valu-
       ation.  Distributions and other statistics can  be  found  in  the  2013
       Report  of  the  Actuary  and  the  2013  Comprehensive Annual Financial
       Report.
         The actuarial assumptions and methods used are described in the  2010,
       2011,  2012  and  2013  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, 2013
       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 estimate, dated May 28, 2014 and intended for use only during the
       2014 Legislative Session, is Fiscal Note No. 2014-137, prepared  by  the
       Actuary  for  the  New  York  State and Local Police and Fire Retirement
       System.