Bill Text: NY A10218 | 2021-2022 | General Assembly | Introduced

New York Assembly Bill 10218 (Prior Session Legislation)

Introduced

Bill Title: Grants retroactive tier IV status to Kimberly Kinblom.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2022-12-23 - signed chap.761 [A10218 Detail]

Download: New_York-2021-A10218-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________

                                          10218

                   IN ASSEMBLY

                                       May 6, 2022
                                       ___________

        Introduced  by  COMMITTEE  ON RULES -- (at request of M. of A. Jones) --
          read once and referred to the Committee on Governmental Employees

        AN ACT granting retroactive tier IV status in the  New  York  state  and
          local employees' retirement system to Kimberly Kinblom

          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  Kimberly Kinblom, who was employed as a laborer by the city  of  Platts-
     3  burgh  with a start date of June 28, 2004, and who is currently a member
     4  of the New York  state  and  local  employees'  retirement  system,  who
     5  through  no  fault  of  her  own did not become a member of the New York
     6  state and local employees' retirement system on June 28, 2004 when first
     7  employed by city of Plattsburgh shall be deemed to have been a member of
     8  the New York state and local employees' retirement system on  such  date
     9  she  commenced  her  employment  and  shall  be  granted Tier IV status,
    10  provided that an application is filed with the  head  of  the  New  York
    11  state  and  local  employees' retirement system within one year from the
    12  effective date of this  act.  Upon  the  granting  of  such  retroactive
    13  membership,  Kimberly  Kinblom  shall  not  be  granted  a refund of any
    14  employee contribution made by her  to  the  New  York  state  and  local
    15  employees' retirement system.
    16    §  2.  All  past  services costs associated with the implementation of
    17  this act shall be borne by Clinton county.
    18    § 3. This act shall take effect immediately.
          FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
          This bill would grant Tier 4 status in the New York  State  and  Local
        Employees'  Retirement  System  to  Kimberly  Kinblom,  a current Tier 6
        member employed by Clinton County, by changing her date of membership to
        June 28, 2004. Kimberly Kinblom was previously employed by the  City  of
        Plattsburgh  from  June  2004 to August 2007. There will be no refund of
        member contributions.
          If this bill is enacted during the 2022 legislative session, we antic-
        ipate that there will be an increase  of  approximately  $5,500  in  the
        annual  contributions of Clinton County for the fiscal year ending March

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15050-04-2

        A. 10218                            2

        31, 2023. In future years, this cost will vary as the billing rates  and
        salary of Kimberly Kinblom change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past service cost of approximately $103,000 which will be
        borne by Clinton County as a one-time payment.  This estimate  is  based
        on the assumption that payment will be made on February 1, 2023.
          Summary of relevant resources:
          Membership  data as of March 31, 2021 was used in measuring the impact
        of the proposed change, the same data used in the April 1, 2021 actuari-
        al valuation.  Distributions and other statistics can be  found  in  the
        2021  Report  of the Actuary and the 2021 Comprehensive Annual Financial
        Report.
          The actuarial assumptions and methods used are described in  the  2020
        and  2021 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, 2021
        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 May 3, 2022, and intended for use only during the
        2022 Legislative Session, is Fiscal Note No. 2022-136, prepared  by  the
        Actuary for the New York State and Local Retirement System.