Bill Text: NY S03181 | 2013-2014 | General Assembly | Introduced

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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) 2013-06-20 - SUBSTITUTED BY A5012 [S03181 Detail]

Download: New_York-2013-S03181-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3181
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   January 31, 2013
                                      ___________
       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.
   18    S  2.  All  past  costs associated with implementing the provisions of
   19  this act shall be borne by the state of New  York.  Jaime  Laczko  shall
   20  bear  no  costs  associated with the implementation of the provisions of
   21  this act.
   22    S 3. 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.
                                                                  LBD01149-03-3
       S. 3181                             2
         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 $4,700 in the annual contributions of the State of  New
       York for the fiscal year ending March 31, 2014.
         In addition to the annual contributions discussed above, there will be
       an  immediate  past service cost of approximately $68,500 which would be
       borne by the State of New York as a one-time payment. This  estimate  is
       based on the assumption that payment will be made on March 1, 2014.
         Summary of relevant resources:
         Data:  March  31,  2012  Actuarial Year End File with distributions of
       membership and other statistics displayed in  the  2012  Report  of  the
       Actuary and 2012 Comprehensive Annual Financial Report.
         Assumptions  and  Methods:  2010,  2011  and 2012 Annual Report to the
       Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the
       State of New York: Audit and Control.
         Market Assets and GASB Disclosures: March 31, 2012 New York State  and
       Local  Retirement System Financial Statements and Supplementary Informa-
       tion.
         Valuations of Benefit Liabilities and Actuarial Assets: summarized  in
       the 2012 Actuarial Valuations report.
         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 25, 2013 and intended for use only during
       the  2013  Legislative  Session, is Fiscal Note No. 2013-49, prepared by
       the Actuary for the New York State and Local Police and Fire  Retirement
       System.