Bill Text: NY S02791 | 2023-2024 | General Assembly | Introduced

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

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Bill Title: Grants retroactive membership with Tier IV status in the New York state and local employees' retirement system to Ronald Bower, provided he files an application with the head of the NYSLRS within one year.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-01-16 - PRINT NUMBER 2791A [S02791 Detail]

Download: New_York-2023-S02791-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2791

                               2023-2024 Regular Sessions

                    IN SENATE

                                    January 24, 2023
                                       ___________

        Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions

        AN ACT in relation to  granting  retroactive  membership  with  Tier  IV
          status in the New York state and local employees' retirement system to
          Ronald Bower

          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  the  law  to  the
     2  contrary,  Ronald  Bower,  an  employee  of  the  Genesee County Highway
     3  Department and a member of the  New  York  state  and  local  employees'
     4  retirement  system,  who was employed in the Occupational Skills Program
     5  at Erie 1 BOCES beginning November 12, 1986 through July  6,  1988,  who
     6  for  reasons  not  ascribable  to his own negligence, failed to become a
     7  member of such retirement system when first employed  by  Erie  1  BOCES
     8  beginning in 1986, shall be deemed to have been a member of the New York
     9  state  and  local  employees'  retirement  system  on  such date that he
    10  commenced his employment with Erie 1 BOCES on  November  12,  1986,  and
    11  shall be granted Tier IV status in such retirement system, provided that
    12  an  application  is  filed with the head of the New York state and local
    13  employees' retirement system within one year from the effective date  of
    14  this act. Upon the granting of such retroactive membership, Ronald Bower
    15  shall  not  be granted a refund of any employee contribution made by him
    16  to the New York state and local employees' retirement system.
    17    § 2. No contributions made to the New York state and local  employees'
    18  retirement  system  by Ronald Bower shall be returned or refunded to him
    19  pursuant to this act.
    20    § 3. All past service costs associated with the implementation of this
    21  act shall be borne by Erie 1 BOCES.
    22    § 4. This act shall take effect immediately.
          Fiscal Note.--Pursuant to Legislative Law, Section 50:

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06734-02-3
        S. 2791                             2

          This bill would grant retroactive Tier 4 status in the New York  State
        and Local Employees' Retirement System to Ronald Bower, a current Tier 6
        member  employed  by  the Genesee County Highway Department, by changing
        their date of membership to November 12,  1986,  when  they  were  first
        employed  by  Erie  1  BOCES. There will be no refund of member contrib-
        utions.
          If this bill is enacted during the 2023 legislative session, we antic-
        ipate that there will be an increase  of  approximately  $3,200  in  the
        annual  contributions of Genesee County for the fiscal year ending March
        31, 2024. In future years, this cost will vary as the billing rates  and
        salary of Ronald Bower change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service  cost of approximately $8,040 which will be
        borne by Erie 1 BOCES as a one-time payment. This estimate assumes  that
        payment will be made on February 1, 2024.
          Summary of relevant resources:
          Membership  data as of March 31, 2022 was used in measuring the impact
        of the proposed change, the same data used in the April 1, 2022 actuari-
        al valuation. Distributions and other statistics can  be  found  in  the
        2022  Report  of the Actuary and the 2022 Annual Comprehensive Financial
        Report.
          The actuarial assumptions and methods used are described in the  2020,
        2021,  and  2022  Annual  Report to the Comptroller on Actuarial Assump-
        tions, 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, 2022
        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 24,  2023,  and  intended  for  use  only
        during  the  2023  Legislative  Session,  is  Fiscal  Note  No. 2023-11,
        prepared by the Actuary for the New  York  State  and  Local  Retirement
        System.