Bill Text: NY S06155 | 2023-2024 | General Assembly | Amended


Bill Title: Authorizes retired firefighters to be employed as fire science instructors by career and technical education centers without a reduction of their retirement benefits.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Introduced) 2024-05-07 - REPORTED AND COMMITTED TO FINANCE [S06155 Detail]

Download: New_York-2023-S06155-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                         6155--A

                               2023-2024 Regular Sessions

                    IN SENATE

                                     March 31, 2023
                                       ___________

        Introduced  by  Sens. SKOUFIS, ASHBY, MARTINEZ -- 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 committee

        AN  ACT  to amend the retirement and social security law, in relation to
          authorizing retired firefighters to be employed as instructors of fire
          sciences by a career and technical education center without diminution
          of his or her retirement benefits

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section 1. The retirement and social security law is amended by adding
     2  a new section 214-c to read as follows:
     3    §  214-c.  Employment of certain retired persons who retired from fire
     4  service.  Notwithstanding  the  provisions  of  this  chapter   or   the
     5  provisions  of  any  state  or  local law or charter to the contrary, no
     6  retired person who retired from fire service as a member of the New York
     7  state and local police and fire retirement system or the New  York  fire
     8  department  pension  fund, and who is employed by a career and technical
     9  education center as an instructor in a fire science program approved  by
    10  the  education department, shall have his or her retirement allowance or
    11  benefits suspended or reduced because of  compensation  earned  by  such
    12  retired person from service as a fire science instructor.
    13    § 2. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          Insofar  as  it  would  affect the New York State and Local Retirement
        System (NYSLRS), this bill would allow retired firefighters employed  as
        fire  science  instructors  in  a program approved by the New York State
        Department of Education to continue to  receive  their  full  retirement
        benefit. Currently, the post-retirement earnings limit is $35,000.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06509-03-4

        S. 6155--A                          2

          If  this  bill  were  enacted during the 2024 Legislative Session, the
        direct cost incurred would be  the  retiree's  post-retirement  earnings
        more  than  $35,000  each  calendar year, not to exceed the full pension
        benefit paid by the NYSLRS during that period.
          The  number  of  members  and  retirees  who could be affected by this
        legislation cannot be readily determined. For each retiree hired  pursu-
        ant  to  this  proposal, an annual cost of $95,000 is expected. If large
        numbers of retirees are hired into such  positions,  significant  annual
        costs would result.
          All  costs will be shared by the State of New York and all participat-
        ing employers in the NYSLRS and spread over future billing cycles. Since
        this proposal exclusively benefits retirees,  the  increased  costs  are
        primarily  attributable to retirees from Tiers 1 - 4. Approximately half
        of all contributions required to fund this proposal will be collected on
        salary reported for current members of Tier 6.
          Summary of relevant resources:
          Membership data as of March 31, 2023 was used in measuring the  impact
        of the proposed change, the same data used in the April 1, 2023 actuari-
        al  valuation.  Distributions  and  other statistics can be found in the
        2023 Report of the Actuary and the 2023 Annual  Comprehensive  Financial
        Report.
          The  actuarial  assumptions and methods used are described in the 2023
        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, 2023
        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  22,  2024,  and intended for use only
        during the  2024  Legislative  Session,  is  Fiscal  Note  No.  2024-69,
        prepared  by  the  Actuary  for  the New York State and Local Retirement
        System.
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