Bill Text: NY S01955 | 2023-2024 | General Assembly | Amended

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Bill Title: Authorizes Paul O'Brien, a village of East Aurora police officer, to receive certain credit under section 384-d of the retirement and social security law.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-01-23 - PRINT NUMBER 1955A [S01955 Detail]

Download: New_York-2023-S01955-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         1955--A

                               2023-2024 Regular Sessions

                    IN SENATE

                                    January 17, 2023
                                       ___________

        Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions
          -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
          accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee

        AN ACT to authorize Paul O'Brien to receive certain 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,  Paul  O'Brien,
     2  currently  a village of East Aurora police officer and member of the New
     3  York state and local  police  and  fire  retirement  system  covered  by
     4  section  384-d  of  the  retirement and social security law, who between
     5  September 18, 1995 and September 1, 2006 was employed by the Erie county
     6  sheriff's department where he was a member of the  New  York  state  and
     7  local  employees' retirement system, and who, for reasons not ascribable
     8  to his own negligence, was not  granted  service  credit  under  section
     9  384-d  of  the  retirement  and  social  security  law for his period of
    10  employment with the Erie county sheriff's department, shall  be  granted
    11  such  service  credit  under  section 384-d of the retirement and social
    12  security law and shall be entitled to the full rights and benefits asso-
    13  ciated with coverage under such section,  provided  a  request  to  that
    14  effect  is  filed  with  the  state comptroller within one year from the
    15  effective date of this act.
    16    § 2. All past service costs incurred in implementing the provisions of
    17  this act shall be borne by the village of East Aurora.
    18    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would grant service credit  under  section  384-d,  together
        with  section  384-e,  of the Retirement and Social Security Law to Paul

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00551-03-4
        S. 1955--A                          2

        O'Brien, a current member of the New York State  and  Local  Police  and
        Fire  Retirement System (NYSLPFRS) employed by the Village of East Auro-
        ra, for the period of September 18,  1995  through  September  1,  2006,
        during which time they were employed as a deputy sheriff in Erie County.
        Currently,  deputy sheriff service is not creditable in a NYSLPFRS twen-
        ty-year police retirement plan.
          If this bill is enacted during the  2024  Legislative  Session,  there
        will  be  an immediate past service cost of approximately $401,000 which
        will be borne by the Village of East Aurora as a one-time payment.  This
        estimate assumes that payment will be made on February 1, 2025.
          This  bill  will  not  increase the future annual contributions of the
        Village of East Aurora.
          Paul O'Brien must transfer their deputy service credit to the NYSLPFRS
        for service credit to be granted.
          Summary of relevant resources:
          Membership data as of March 31, 2023 was used in measuring the  impact
        of the proposed change, the same data used in the April 1, 2023 actuari-
        al  valuation.  Distributions  and  other statistics can be found in the
        2023 Report of the Actuary and the 2023 Annual  Comprehensive  Financial
        Report.
          The  actuarial  assumptions and methods used are described in the 2023
        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, 2023
        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  22,  2024,  and intended for use only
        during the  2024  Legislative  Session,  is  Fiscal  Note  No.  2024-58,
        prepared  by  the  Actuary  for  the New York State and Local Retirement
        System.