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

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2231
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                   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
       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, and within 180
   18  days thereafter, he shall pay to the New York state and local police and
   19  fire retirement system 50 per centum of the past service  costs  associ-
   20  ated  with implementing the provisions of this section, as determined by
   21  the state comptroller.
   22    S 2. All past costs associated with  implementing  the  provisions  of
   23  this  act  shall  be  jointly  borne  by the state of New York and Jaime
   24  Laczko.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06420-02-5
       S. 2231                             2
    1    S 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 $3,700 in annual contributions of the State of New York
       for the fiscal year ending March 31, 2016.
         In addition to the annual contributions discussed above, there will be
       an  immediate past service cost of $76,800 which would be equally shared
       by Jaime Laczko and the State of New York as one-time payments. Assuming
       a payment date of March 1,  2016,  each  party  will  pay  approximately
       $38,400.
         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, 2014  actuarial  valu-
       ation.    Distributions  and  other  statistics can be found in the 2014
       Report of the  Actuary  and  the  2014  Comprehensive  Annual  Financial
       Report.
         The  actuarial assumptions and methods used are described in the 2010,
       2011, 2012, 2013 and 2014 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, 2014
       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 15, 2015 and intended for use only during
       the  2015  Legislative  Session, is Fiscal Note No. 2015-36, prepared by
       the Actuary for the New York State and Local Police and Fire  Retirement
       System.