Bill Text: NY A10539 | 2021-2022 | General Assembly | Introduced

---

Bill Title: Modifies the retirement program for Triborough bridge and tunnel members to a twenty-year retirement program; clarifies the statutory peace officer designation of certain employees of the Triborough bridge and tunnel authority.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-07-06 - referred to governmental employees [A10539 Detail]

Download: New_York-2021-A10539-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________

                                          10539

                   IN ASSEMBLY

                                      July 6, 2022
                                       ___________

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

        AN ACT to amend the retirement and social security law, in  relation  to
          modifying  the  retirement  program  for  Triborough bridge and tunnel
          members; to amend the criminal procedure law, in relation to  clarify-
          ing  the  statutory  peace officer designation of certain employees of
          the Triborough bridge and tunnel  authority;  and  providing  for  the
          repeal of certain provisions

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Section 604-c of the retirement and social security law, as
     2  added by chapter 472 of the laws of 1995, paragraph 2 of  subdivision  c
     3  and paragraph 7-a of subdivision e as amended by chapter 693 of the laws
     4  of 2003, paragraph 1 and subparagraph (ii) of paragraph 2 of subdivision
     5  d  as  amended  by  chapter 18 of the laws of 2012, subparagraph (ii) of
     6  paragraph 1 of subdivision d as amended by section 6 of part TT of chap-
     7  ter 56 of the laws of 2022, paragraph 1 of subdivision e as  amended  by
     8  chapter  661  of  the  laws of 2002, subparagraph (iv) of paragraph 3 of
     9  subdivision e as added by chapter 365 of the laws of 1999,  subparagraph
    10  (i)  of  paragraph  8  of subdivision e as amended by chapter 448 of the
    11  laws of 2018 and paragraph 9 of subdivision e as amended by chapter  664
    12  of the laws of 1996, is amended to read as follows:
    13    §  604-c.  [Twenty-year/age  fifty] Twenty-year retirement program for
    14  Triborough bridge and tunnel  members.  a.  Definitions.  The  following
    15  words and phrases as used in this section shall have the following mean-
    16  ings unless a different meaning is plainly required by the context.
    17    1.  "Triborough  bridge  and  tunnel  member"  shall mean a member (as
    18  defined in subdivision e of section six hundred one of this article) who
    19  is employed by the Triborough bridge and tunnel authority  as  a  bridge
    20  and  tunnel  officer,  sergeant, or lieutenant in a non-managerial posi-
    21  tion.
    22    2. ["Twenty-year/age fifty]  "Twenty-year  retirement  program"  shall
    23  mean all the terms and conditions of this section.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11119-05-2
        A. 10539                            2

     1    3.  "Starting  date of the [twenty-year/age fifty] twenty-year retire-
     2  ment program" shall mean the date of enactment of the  act  which  added
     3  this section, as such date is certified pursuant to section forty-one of
     4  the legislative law.
     5    4.  "Participant in the [twenty-year/age fifty] twenty-year retirement
     6  program" shall mean any Triborough bridge and tunnel member  who,  under
     7  the  applicable provisions of subdivision b of this section, is entitled
     8  to the rights, benefits and privileges and is subject to the obligations
     9  of the [twenty-year/age fifty] twenty-year retirement program, as appli-
    10  cable to him or her.
    11    5. "Discontinued member" shall mean  a  participant  in  the  [twenty-
    12  year/age  fifty] twenty-year retirement program who, while he or she was
    13  a Triborough bridge and tunnel member, discontinued service  as  such  a
    14  member  and has a right to a deferred vested benefit under subdivision d
    15  of this section.
    16    6. "Administrative code" shall mean the  administrative  code  of  the
    17  city of New York.
    18    b.  Participation  in  [twenty-year/age  fifty] twenty-year retirement
    19  program. 1. Subject to the provisions of paragraph six of this  subdivi-
    20  sion,  any  person  who  is a Triborough bridge and tunnel member on the
    21  starting date of  the  [twenty-year/age  fifty]  twenty-year  retirement
    22  program  and  who, as such a bridge and tunnel member or otherwise, last
    23  became subject to the provisions of this article prior to such  starting
    24  date,  may  elect to become a participant in the [twenty-year/age fifty]
    25  twenty-year retirement program by filing, within one hundred eighty days
    26  after the starting  date  of  the  [twenty-year/age  fifty]  twenty-year
    27  retirement  program,  a duly executed application for such participation
    28  with the retirement system of which such person is a member, provided he
    29  or she is such a bridge and tunnel member on the date  such  application
    30  is filed.
    31    2. Subject to the provisions of paragraph six of this subdivision, any
    32  person  who  becomes  a  Triborough  bridge  and tunnel member after the
    33  starting date of  the  [twenty-year/age  fifty]  twenty-year  retirement
    34  program  and  who, as such a bridge and tunnel member or otherwise, last
    35  became subject to the provisions of this article prior to such  starting
    36  date,  may  elect to become a participant in the [twenty-year/age fifty]
    37  twenty-year retirement program by filing, within one hundred eighty days
    38  after becoming such a bridge and tunnel member, a duly executed applica-
    39  tion for such participation with the retirement  system  of  which  such
    40  person  is  a  member,  provided  he  or she is such a bridge and tunnel
    41  member on the date such application is filed.
    42    3. Any election to be a participant  in  the  [twenty-year/age  fifty]
    43  twenty-year retirement program shall be irrevocable.
    44    4. Each Triborough bridge and tunnel member who becomes subject to the
    45  provisions of this article on or after the starting date of the [twenty-
    46  year/age  fifty]  twenty-year  retirement program shall become a partic-
    47  ipant in the [twenty-year/age fifty] twenty-year retirement  program  on
    48  the date he or she becomes such a bridge and tunnel member.
    49    5.  Where  any  participant in the [twenty-year/age fifty] twenty-year
    50  retirement program shall cease to be employed by the  Triborough  bridge
    51  and  tunnel  authority  as  a  bridge and tunnel member, he or she shall
    52  cease to be such a participant and, during  any  period  in  which  such
    53  person  is  not so employed, he or she shall not be a participant in the
    54  [twenty-year/age fifty] twenty-year retirement program and shall not  be
    55  eligible for the benefits of subdivision c of this section.
        A. 10539                            3

     1    6.  Where  any  participant in the [twenty-year/age fifty] twenty-year
     2  retirement program terminates service as a Triborough bridge and  tunnel
     3  member  and  returns  to  such service as a Triborough bridge and tunnel
     4  member at a later date, he or she shall again become such a  participant
     5  on that date.
     6    c.  Service  retirement  benefits.  1.  A  participant in the [twenty-
     7  year/age fifty] twenty-year retirement program:
     8    (i) who has completed twenty or more years of credited service; and
     9    (ii) [who has attained age fifty; and
    10    (iii)] who has paid, before the  effective  date  of  retirement,  all
    11  additional member contributions and interest (if any) required by subdi-
    12  vision e of this section; and
    13    [(iv)]  (iii)  who files with the retirement system of which he or she
    14  is a member an application for service retirement setting forth at  what
    15  time he or she desires to be retired; and
    16    [(v)]  (iv)  who shall be a participant in the [twenty-year/age fifty]
    17  twenty-year retirement program at the time so specified for his  or  her
    18  retirement;  shall be retired pursuant to the provisions of this section
    19  affording early service retirement.
    20    2. (i) Notwithstanding any other provision of law to the contrary, the
    21  early service  retirement  benefit  for  participants  in  the  [twenty-
    22  year/age  fifty]  twenty-year  retirement program who retire pursuant to
    23  paragraph one of this subdivision shall be a pension consisting of:
    24    (A) an amount, on account of the required minimum period  of  service,
    25  equal to one-half of his or her final average salary; plus
    26    (B)  an  amount  of credited service, or fraction thereof, beyond such
    27  required minimum period of service equal to one and one-half percent  of
    28  his or her final average salary.
    29    (ii)  The maximum pension computed without optional modification paya-
    30  ble pursuant to subparagraph (i) of  this  paragraph  shall  equal  that
    31  payable upon completion of thirty years of service.
    32    d.  Vesting.  1.  A participant in the [twenty-year/age fifty] twenty-
    33  year retirement program [who] shall be entitled to  receive  a  deferred
    34  vested benefit as provided in this subdivision if such participant:
    35    (i)  discontinues  service  as  a Triborough bridge and tunnel member,
    36  other than by death or retirement; and
    37    (ii) prior to such discontinuance, completed five but less than twenty
    38  years of credited service; and
    39    (iii) has paid, prior to such discontinuance,  all  additional  member
    40  contributions  and  interest  (if any) required by subdivision e of this
    41  section; and
    42    (iv) does not withdraw in whole or in  part  his  or  her  accumulated
    43  member  contributions  pursuant  to section six hundred thirteen of this
    44  article unless such participant thereafter returns to public service and
    45  repays the amounts so withdrawn, together  with  interest,  pursuant  to
    46  such  section  six  hundred  thirteen[;  shall  be entitled to receive a
    47  deferred vested benefit as provided in this subdivision].
    48    2. (i) Upon such discontinuance under the conditions and in compliance
    49  with the provisions of paragraph one of this subdivision, such  deferred
    50  vested benefit shall vest automatically.
    51    (ii)  In  the case of a participant who is not a New York city revised
    52  plan member, such vested benefit shall become payable  on  the  earliest
    53  date on which such discontinued member could have retired for service if
    54  such  discontinuance  had  not occurred or, in the case of a participant
    55  who is a New York city revised plan member, such  vested  benefit  shall
    56  become payable at age sixty-three.
        A. 10539                            4

     1    3.  Such  deferred  vested benefit shall be a pension consisting of an
     2  amount equal to two and one-half percent of such  discontinued  member's
     3  final  average  salary,  multiplied  by  the number of years of credited
     4  service.
     5    e.  Additional  member  contributions.  1.  In  addition to the member
     6  contributions required by section six hundred thirteen of this  article,
     7  each  participant  in the [twenty-year/age fifty] twenty-year retirement
     8  program in the rank of bridge and tunnel officer shall contribute to the
     9  retirement system of which he or she is a member (subject to the  appli-
    10  cable  provisions  of  subdivision  d of section six hundred thirteen of
    11  this article) an additional five and fifty one-hundredths percent of his
    12  or her compensation and each participant in the [twenty-year/age  fifty]
    13  twenty-year  retirement  program  in  the rank of sergeant or lieutenant
    14  shall contribute to the retirement system an additional six  percent  of
    15  his  or  her compensation earned from all allowable service as a Tribor-
    16  ough bridge and tunnel member rendered on and after the  date  which  is
    17  one  hundred  eighty  days  prior  to  the starting date of the [twenty-
    18  year/age fifty] twenty-year retirement program.  A  participant  in  the
    19  [twenty-year/age  fifty] twenty-year retirement program shall contribute
    20  additional member contributions until the later of (i) the  date  as  of
    21  which  he  or  she  has twenty years of credited service as a bridge and
    22  tunnel officer, or (ii) the third anniversary of the date that he or she
    23  last became a participant in  the  [twenty-year/age  fifty]  twenty-year
    24  retirement program.
    25    2.  Commencing  with  the  first full payroll period after each person
    26  becomes a participant in the [twenty-year/age fifty] twenty-year retire-
    27  ment program, additional member contributions at the rate  specified  in
    28  paragraph  one  of  this  subdivision  shall be deducted (subject to the
    29  applicable provisions of subdivision d of section six  hundred  thirteen
    30  of  this  article) from the compensation of such participant on each and
    31  every payroll of such participant for each and every payroll period.
    32    3. (i) Subject to the provisions of subparagraph (ii)  of  this  para-
    33  graph,  where  any additional member contributions required by paragraph
    34  one of this subdivision are not paid by deductions from a  participant's
    35  compensation pursuant to paragraph two of this subdivision:
    36    (A)  that  participant shall be charged with a contribution deficiency
    37  consisting of such unpaid amounts, together with interest thereon at the
    38  rate of five percent per annum, compounded annually; and
    39    (B) such interest on each amount  of  undeducted  contributions  shall
    40  accrue  from  the  end of the payroll period for which such amount would
    41  have been deducted from compensation if he or she had been a participant
    42  at the beginning of that payroll period, until such amount  is  paid  to
    43  the retirement system.
    44    (ii)  Except  as  provided in subparagraph (iii) of this paragraph, no
    45  interest shall be due on any such unpaid additional contributions  which
    46  are not attributable to the period prior to the first full payroll peri-
    47  od referred to in paragraph two of this subdivision.
    48    (iii)  Should  any  person  who,  pursuant  to paragraph eight of this
    49  subdivision, has withdrawn any additional member contributions (and  any
    50  interest  paid  thereon)  again  become  a  participant  in the [twenty-
    51  year/age fifty] twenty-year retirement program pursuant to paragraph six
    52  of subdivision b  of  this  section,  an  appropriate  amount  shall  be
    53  included in such participant's contribution deficiency (including inter-
    54  est  thereon  as  calculated  pursuant to subparagraph (i) of this para-
    55  graph) as if such additional contributions had never been made.
        A. 10539                            5

     1    (iv) Notwithstanding  any  other  provisions  of  this  paragraph,  no
     2  participant  shall  be  charged  interest  for any period prior to March
     3  twenty-fifth, nineteen hundred ninety-eight with respect to any contrib-
     4  utions owed with respect to any payroll period beginning prior  to  such
     5  date.
     6    4.  The head of a retirement system which includes participants in the
     7  [twenty-year/age fifty] twenty-year retirement program in its membership
     8  may, consistent with the  provisions  of  this  subdivision,  promulgate
     9  regulations for the payment of such additional member contributions, and
    10  any  interest  thereon, by such participants (including the deduction of
    11  such contributions, and any interest  thereon,  from  the  participant's
    12  compensation).
    13    5.  Where a contribution deficiency chargeable to a participant pursu-
    14  ant to paragraph three of this subdivision has not  been  paid  in  full
    15  before  the  effective date of retirement, that participant shall not be
    16  eligible to retire pursuant to subdivision c of this section.
    17    6. Where a contribution deficiency chargeable to a participant  pursu-
    18  ant  to  paragraph  three  of this subdivision has not been paid in full
    19  before the date of discontinuance of service, that participant shall not
    20  be entitled to a deferred vested benefit pursuant to  subdivision  d  of
    21  this section.
    22    7. Where a participant has not paid in full any contribution deficien-
    23  cy chargeable to him or her pursuant to paragraph three of this subdivi-
    24  sion,  and a benefit, other than a refund of member contributions pursu-
    25  ant to section six hundred thirteen of  this  article  or  a  refund  of
    26  additional  member  contributions  pursuant  to  paragraph eight of this
    27  subdivision, becomes payable under this article to the participant or to
    28  his or her designated beneficiary or estate, the actuarial equivalent of
    29  any such unpaid amount shall be  deducted  from  the  benefit  otherwise
    30  payable.
    31    7-a. Notwithstanding paragraph six or seven of this subdivision, where
    32  a  deficiency chargeable to a participant pursuant to paragraph three of
    33  this subdivision has not been paid in full while the  participant  is  a
    34  Triborough  bridge  and tunnel member and such participant retires prior
    35  to July first, two thousand eleven, such participant  may  elect  to  be
    36  covered  by  this  paragraph.  Such participant shall be entitled to the
    37  benefits provided in subdivision c of this section provided that partic-
    38  ipant authorizes the retirement system to deduct from such  benefits  an
    39  amount  which will result in the deficiency, plus associated interest to
    40  date of final payment, being paid in full no later than July first,  two
    41  thousand  eleven  or  such earlier date as agreed to by the participant.
    42  Such amount will be deducted in equal installments on a  monthly  basis.
    43  Nothing  in  this  paragraph shall prevent the participant from making a
    44  partial payment of the amount of the deficiency at the time  of  retire-
    45  ment  so as to reduce the monthly payment nor to make a lump sum payment
    46  equal to the amount of the total unpaid balance at any time  during  the
    47  period of repayment.
    48    8. (i) Such additional member contributions (and any interest thereon)
    49  shall  be paid into the contingent reserve fund of the retirement system
    50  of which the participant is a member and shall not for  any  purpose  be
    51  deemed  to  be  member  contributions  or accumulated contributions of a
    52  member under section six hundred thirteen of this article  or  otherwise
    53  while  he or she is a participant in the [twenty-year/age fifty] twenty-
    54  year retirement program or otherwise, except that,  a  surplus  of  such
    55  additional  member  contributions  that  are  paid  into  the retirement
        A. 10539                            6

     1  system's contingent reserve fund may be used for  the  sole  purpose  of
     2  offsetting a deficit of basic member contributions.
     3    (ii)  Should  a participant in the [twenty-year/age fifty] twenty-year
     4  retirement program who has rendered less than fifteen years of allowable
     5  service as a Triborough bridge and tunnel member cease to hold  a  posi-
     6  tion as a Triborough bridge and tunnel member for any reason whatsoever,
     7  his  or her accumulated additional member contributions made pursuant to
     8  this subdivision (together with any interest thereon paid to the retire-
     9  ment system) may be withdrawn by  him  or  her  pursuant  to  procedures
    10  promulgated  in  regulations  of the board of trustees of the retirement
    11  system, together with interest thereon at the rate of five  percent  per
    12  annum, compounded annually.
    13    (iii)  Except  as  provided in subparagraph (ii) of this paragraph, no
    14  member, while he or she is a participant  or  otherwise,  shall  have  a
    15  right  to  withdraw such additional member contributions or any interest
    16  thereon from the retirement system.
    17    9. A member who has made the  additional  contributions  specified  by
    18  this subdivision may borrow a portion of such contributions, pursuant to
    19  the provisions of section six hundred thirteen-b of this article.
    20    §  2. Subdivision 20 of section 2.10 of the criminal procedure law, as
    21  added by chapter 843 of the laws of 1980, is amended to read as follows:
    22    20.  Bridge  and  tunnel  officers,  sergeants   [and],   lieutenants,
    23  captains, inspectors, deputy chiefs, assistant chiefs, and chiefs of the
    24  Triborough bridge and tunnel authority.
    25    § 3. This act shall take effect immediately; provided, however, that:
    26    (a) section one of this act shall take effect on the one hundred twen-
    27  tieth day after it shall have become a law, provided that the Triborough
    28  bridge  and tunnel authority has elected prior to such effective date to
    29  provide its employees the retirement incentive authorized by this act by
    30  resolution of its governing body specifying which  titles  and/or  ranks
    31  are  covered  by  such  election  as  amongst  those titles and/or ranks
    32  already covered by section 604-c of the retirement and  social  security
    33  law;  provided,  however,  if the Triborough bridge and tunnel authority
    34  shall not elect by resolution to provide its  employees  the  retirement
    35  incentive authorized by this act during the time period required by this
    36  subdivision, section one of this act shall be deemed repealed; and
    37    (b) the Triborough bridge and tunnel authority shall notify the legis-
    38  lative  bill drafting commission on whether it has elected by resolution
    39  to provide its employees the retirement incentive authorized by this act
    40  within the time period required by subdivision (a) of  this  section  in
    41  order  that the commission may maintain an accurate and timely effective
    42  data base of the official text of the laws of the state of New  York  in
    43  furtherance of effectuating the provisions of section 44 of the legisla-
    44  tive law and section 70-b of the public officers law.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          SUMMARY  OF  BILL:  This proposed legislation, as it relates to Tier 4
        and Tier 6 members of the New York  City  Employees'  Retirement  System
        (NYCERS) who are members of the respective TBTA 20/50 Plans, would amend
        Section 604-c of the Retirement and Social Security Law (RSSL) to remove
        age 50 as an eligibility requirement for service retirement.
          Effective  Date:  Upon  enactment,  provided,  however,  that it shall
        become effective on the 120th day after enactment in the event the  TBTA
        elects  by  resolution to provide to its employees the retirement incen-
        tive authorized by the bill within such 120-day period.
          IMPACT ON BENEFITS: Currently, members of the Tier 4 and Tier  6  TBTA
        20/50  Plans  are  eligible to receive a service retirement benefit upon
        A. 10539                            7

        attaining 20 or more years of  credited  service  and  age  50.  Tier  4
        members  who leave employment with at least five, but less than 20 years
        of service, are eligible to receive a vested retirement benefit  payable
        on  the  date  they would have attained 20 years of credited service and
        age 50. Tier 6 members who leave employment with at least five, but less
        than 20 years of credited service  are  eligible  to  receive  a  vested
        retirement benefit payable at age 63.
          Under  the  proposed  legislation, if enacted, affected members of the
        TBTA 20/50 Plans would be eligible to receive a service retirement bene-
        fit upon attaining 20 years of credited service, without regard to  age.
        Tier 4 members who leave employment with at least five, but less than 20
        years of credited service, would be eligible to receive a vested retire-
        ment  benefit  payable  on  the  date the member would have completed 20
        years of credited service, without regard to age.  Tier  6  members  who
        leave  employment with at least five, but less than 20 years of credited
        service would continue to be eligible to  receive  a  vested  retirement
        benefit payable at age 63.
          FINANCIAL  IMPACT  - PRESENT VALUES: Based on the anticipated group of
        members benefiting from the change in the  eligibility  requirement  and
        the actuarial assumptions and methods described herein, the enactment of
        this  proposed  legislation  would  increase the Present Value of Future
        Benefits (PVFB) by approximately $6.2 million for TBTA.
          Under the Entry Age Normal cost method used to determine the  employer
        contributions  to  NYCERS,  there  would  be an increase in the Unfunded
        Accrued Liability (UAL)  of  approximately  $7.3  million  offset  by  a
        decrease  in  the  Present  Value of future employer Normal Cost of $1.1
        million.
          FINANCIAL IMPACT - ANNUAL EMPLOYER CONTRIBUTIONS: In  accordance  with
        Section 13-638.2(k-2) of the Administrative Code of the City of New York
        (ACCNY),  new UAL attributable to benefit changes are to be amortized as
        determined by the Actuary but are generally amortized over the remaining
        working lifetime of those impacted by the benefit changes.  As  of  June
        30, 2021, the remaining working lifetime of the members who could poten-
        tially  benefit  from  the  change  in  the  eligibility requirement for
        retirement is approximately seven years.
          For the purposes of this Fiscal Note, the increase in  UAL  was  amor-
        tized  over  a  seven-year  period  (six payments under the One-Year Lag
        Methodology (OYLM)) using level dollar payments. This payment  plus  the
        increase  in  the  Normal Cost results in an increase in annual employer
        contributions of approximately $1.8 million each year for TBTA.
          CONTRIBUTION TIMING: For the purposes  of  this  Fiscal  Note,  it  is
        assumed  that  the changes in the PVFB and annual employer contributions
        would be reflected for the first time in the Final June 30, 2021 actuar-
        ial valuation of NYCERS. In accordance with the OYLM used  to  determine
        employer  contributions,  the  increase  in employer contributions would
        first be reflected in Fiscal Year 2023.
          CENSUS DATA: The estimates presented herein are based  on  the  census
        data  used in the Preliminary June 30, 2021 (Lag) actuarial valuation of
        NYCERS to determine the Preliminary Fiscal Year 2023  employer  contrib-
        utions.
          The 112 NYCERS Tier 4 members as of June 30, 2021 who could potential-
        ly benefit from the change in the eligibility requirement for retirement
        had  an  average  age  of  approximately  42.7 years, average service of
        approximately  16.8  years,  and  an  average  salary  of  approximately
        $112,700.  As  of June 30, 2021, there are no members in the Tier 6 TBTA
        20/50 Plan.
        A. 10539                            8

          ACTUARIAL ASSUMPTIONS AND METHODS: The changes in the PVFB and  annual
        employer  contributions  presented  herein have been calculated based on
        the actuarial assumptions and methods in effect for the Preliminary June
        30, 2021 (Lag) actuarial valuations used to  determine  the  Preliminary
        Fiscal Year 2023 employer contributions of NYCERS.
          RISK  AND  UNCERTAINTY: The costs presented in this Fiscal Note depend
        highly on the realization of the actuarial assumptions used, as well  as
        certain  demographic  characteristics  of  NYCERS  and  other  exogenous
        factors such as investment, contribution, and  other  risks.  If  actual
        experience  deviates  from actuarial assumptions, the actual costs could
        differ from those presented herein. Costs  are  also  dependent  on  the
        actuarial  methods used, and therefore different actuarial methods could
        produce different results.  Quantifying these risks is beyond the  scope
        of this Fiscal Note.
          Not measured in this Fiscal Note are the following:
          * The initial, additional administrative costs of NYCERS and other New
        York City agencies to implement the proposed legislation.
          *  The  impact  of  this  proposed legislation on Other Postemployment
        Benefit (OPEB) costs.
          * The amendment to include enumerated titles in  the  Criminal  Proce-
        dural law.
          STATEMENT  OF  ACTUARIAL  OPINION: I, Michael J. Samet, am the Interim
        Chief Actuary for, and independent of,  the  New  York  City  Retirement
        Systems and Pension Funds. I am a Fellow of the Society of Actuaries and
        a  Member of the American Academy of Actuaries. I meet the Qualification
        Standards of the American Academy of Actuaries to render  the  actuarial
        opinion  contained  herein.  To  the  best  of my knowledge, the results
        contained  herein  have  been  prepared  in  accordance  with  generally
        accepted  actuarial  principles  and  procedures  and with the Actuarial
        Standards of Practice issued by the Actuarial Standards Board.
          FISCAL NOTE IDENTIFICATION: This Fiscal Note  2022-67  dated  May  31,
        2022  was  prepared  by  the Interim Chief Actuary for the New York City
        Employees' Retirement System. This estimate is  intended  for  use  only
        during the 2022 Legislative Session.