Bill Text: NY S03879 | 2019-2020 | General Assembly | Introduced

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Bill Title: Relates to granting retroactive tier IV membership in the NY state and local employees' retirement system for Rebecca Leonard.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-03-04 - RECOMMIT, ENACTING CLAUSE STRICKEN [S03879 Detail]

Download: New_York-2019-S03879-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
            S. 3879                                                  A. 5866
                               2019-2020 Regular Sessions
                SENATE - ASSEMBLY
                                    February 20, 2019
                                       ___________
        IN  SENATE  --  Introduced  by  Sen.  FLANAGAN -- read twice and ordered
          printed, and when printed to be committed to the  Committee  on  Civil
          Service and Pensions
        IN  ASSEMBLY -- Introduced by M. of A. RAIA -- read once and referred to
          the Committee on Governmental Employees
        AN ACT granting retroactive tier IV membership in the New York state and
          local employees' retirement system to Rebecca Leonard
          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,  Rebecca
     2  Leonard, formerly Rebecca Abensur, a member of the New  York  state  and
     3  local  employees'  retirement system, who was employed in November 2007,
     4  by Half Hollow Hills Central School District, who did not file a member-
     5  ship application in such system until 2010, which gave her Tier V status
     6  instead of Tier IV status, where she would have been  had  she  filed  a
     7  membership  application when she became a permanent employee in November
     8  2007 may be deemed to have become a member of the  New  York  state  and
     9  local  employees' retirement system in November 2007 if, within one year
    10  of the effective date of this act, she shall file with the  state  comp-
    11  troller  a  written  request  to  that effect. Upon the granting of such
    12  retroactive membership, Rebecca Leonard shall not be granted a refund of
    13  any employee contribution made by her to the New York  state  and  local
    14  employees' retirement system.
    15    § 2. All past service costs associated with the implementation of this
    16  act shall be borne by the county of Nassau.
    17    § 3. This act shall take effect immediately.
          FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
          This  bill  will  grant  Tier 4 status in the New York State and Local
        Employees' Retirement System to Rebecca Leonard, a current Tier 5 member
        employed by Nassau County, by changing her date of membership to  Novem-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07966-02-9
        S. 3879                             2                            A. 5866
        ber  2007,  her  first  date  of  employment  with the Half Hollow Hills
        Central School District. There will be  no  refund  of  member  contrib-
        utions.
          If this legislation is enacted during the 2019 legislative section, we
        anticipate that there will be an increase of approximately $2,400 in the
        annual  contributions  of Nassau County and an increase of approximately
        $40 in the annual contributions of  Half  Hollow  Hills  Central  School
        District  for  the  fiscal  year ending March 31, 2020. In future years,
        these costs will vary as the billing rates and salary of Rebecca Leonard
        change.
          In addition to the annual contributions discussed above, there will be
        an immediate past service cost of $13,300 which will be borne by  Nassau
        County  as  a one-time payment. This estimate is based on the assumption
        that payment will be made on February 1, 2020.
          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, 2018 actuarial valu-
        ation.  Distributions and other statistics can  be  found  in  the  2018
        Report  of  the  Actuary  and  the  2018  Comprehensive Annual Financial
        Report.
          The actuarial assumptions and methods used are described in the  2015,
        2016,  2017  and  2018  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, 2018
        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 February 12, 2019,  and  intended  for  use  only
        during  the  2019  Legislative  Session,  is  Fiscal  Note  No. 2019-69,
        prepared by the Actuary for the New  York  State  and  Local  Retirement
        System.