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

New York Senate Bill 6155

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

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-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________

                                          6155

                               2023-2024 Regular Sessions

                    IN SENATE

                                     March 31, 2023
                                       ___________

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

        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  who  are
        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.
          If this bill were enacted during the  2023  legislative  session,  the
        direct  cost  incurred  would  be the retiree's post-retirement earnings

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06509-02-3

        S. 6155                             2

        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 $90,000 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
        the 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, 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 March 30, 2023, and intended for use only  during
        the  2023  Legislative  Session, is Fiscal Note No. 2023-50, prepared by
        the Actuary for the New York State and Local Retirement System.