Bill Text: NY S02231 | 2015-2016 | General Assembly | Amended

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Bill Title: Authorizes Jaime Laczko to elect to participate in the optional 25 year retirement plan for forest rangers in the service of the department of environmental conservation.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-05-06 - PRINT NUMBER 2231B [S02231 Detail]

Download: New_York-2015-S02231-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         2231--B
                               2015-2016 Regular Sessions
                    IN SENATE
                                    January 22, 2015
                                       ___________
        Introduced  by  Sen.  LITTLE -- 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  --  committee  discharged,  bill  amended,  ordered  reprinted as
          amended and recommitted to said committee
        AN ACT to authorize Jaime Laczko to elect to participate in the optional
          twenty-five year retirement plan for forest rangers in the service  of
          the department of environmental conservation
          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, Jaime Laczko, a
     2  member of the New York  state  and  local  police  and  fire  retirement
     3  system,  who is employed by the department of environmental conservation
     4  as a full-time forest ranger I,  who  upon  commencing  such  employment
     5  became  a  member of such retirement system subject to the provisions of
     6  section 375-h of the retirement and social security law, who was  eligi-
     7  ble,  at such time, to elect to join the New York state and local police
     8  and fire retirement system subject  to  the  optional  twenty-five  year
     9  retirement  plan  for forest rangers in the service of the department of
    10  environmental conservation pursuant to section 383-c of  the  retirement
    11  and  social security law, and who, for reasons not ascribable to his own
    12  negligence, failed to elect to  participate  in  such  twenty-five  year
    13  retirement  plan,  shall be deemed to have elected to participate in the
    14  retirement plan, established by section  383-c  of  the  retirement  and
    15  social  security  law,  upon  commencement of his employment as a forest
    16  ranger I, if, within 1 year of the effective date of this act, he  shall
    17  file an application therefor with the state comptroller.
    18    §  2.  All  past  costs associated with implementing the provisions of
    19  this act shall be borne by the state of New York.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06420-09-6
        S. 2231--B                          2
     1    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  will  deem Jaime Laczko, a Forest Ranger currently covered
        under an age 55 retirement plan, to have elected to participate  in  the
        25  year  retirement plan established by Section 383-c of the Retirement
        and Social Security Law.
          If this bill is enacted, we anticipate that there will be an  increase
        of  approximately $4,440 in the annual contributions of the State of New
        York for the fiscal year ending March 31, 2017. In  future  years,  this
        cost will vary as the billing rates and salary of Jaime Laczko change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service cost of $100,800 which will be borne by the
        State of New York as one-time payment. This estimate  is  based  on  the
        assumption that payment will be made on March 1, 2017.
          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, 2015  actuarial  valu-
        ation.    Distributions  and  other  statistics can be found in the 2015
        Report of the  Actuary  and  the  2015  Comprehensive  Annual  Financial
        Report.
          The  actuarial  assumptions and methods used are described in the 2015
        Annual Report to the Comptroller on Actuarial Assumptions, and the Codes
        Rules and Regulations of the State of New York: Audit Control.
          The Market Assets and GASB Disclosures are found in the March 31, 2015
        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 January 21, 2016 and intended for use only during
        the  2016  Legislative  Session, is Fiscal Note No. 2016-39, prepared by
        the Actuary for the New York State and Local Retirement System.