Bill Text: NY S06265 | 2021-2022 | General Assembly | Introduced


Bill Title: Provides equal retirement benefits for persons who have been appointed to the title of correction lieutenant, correction captain, deputy assistant superintendent and superintendent in the department of corrections and community supervision.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO CIVIL SERVICE AND PENSIONS [S06265 Detail]

Download: New_York-2021-S06265-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          6265

                               2021-2022 Regular Sessions

                    IN SENATE

                                     April 19, 2021
                                       ___________

        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 to amend the retirement and social security law, in  relation  to
          providing   equal  retirement  benefits  for  persons  who  have  been
          appointed to the title of correction lieutenant,  correction  captain,
          deputy assistant superintendent or superintendent in the department of
          corrections and community supervision

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

     1    Section 1. Clause (ii) of subparagraph (b) of paragraph 2 of  subdivi-
     2  sion  a  of  section  600  of the retirement and social security law, as
     3  amended by section 149 of subpart B of part C of chapter 62 of the  laws
     4  of 2011, is amended and two new clauses (iii) and (iv) are added to read
     5  as follows:
     6    (ii)  a  person  who serves in the title of superintendent as of April
     7  first, two thousand six, who has had at least  seven  years  of  service
     8  credited toward the retirement plan established pursuant to this article
     9  while  employed  by  the  department of corrections and community super-
    10  vision and who elects the retirement plan established pursuant  to  this
    11  article  on  or  before  September  thirtieth,  two  thousand  six. Such
    12  election shall be in writing, shall be duly executed and filed with  the
    13  comptroller  and  shall  be irrevocable as long as such person is in the
    14  title of superintendent[.]; or
    15    (iii) a person who is appointed to the title of correction lieutenant,
    16  correction captain, deputy assistant superintendent or superintendent in
    17  institutions under the jurisdiction of the department of corrections and
    18  community supervision and who elects  the  retirement  plan  established
    19  pursuant  to  this article within ninety days of his or her appointment.
    20  Such election shall be in writing, shall be duly executed and filed with
    21  the comptroller and shall be irrevocable as long as such  person  is  in
    22  the title of correction lieutenant, correction captain, deputy assistant
    23  superintendent or superintendent; or
    24    (iv)  a  person  who  serves  in  the  title of correction lieutenant,
    25  correction captain, deputy assistant superintendent or superintendent on

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10528-02-1

        S. 6265                             2

     1  the effective date of this clause and who  elects  the  retirement  plan
     2  established pursuant to this article within ninety days of the effective
     3  date  of  this  clause. Such election shall be in writing, shall be duly
     4  executed and filed with the comptroller and shall be irrevocable as long
     5  as  such  person  is  in  the title of correction lieutenant, correction
     6  captain, deputy assistant superintendent or superintendent.
     7    § 2. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would allow certain Tier 3, 5 and 6 correction  lieutenants,
        correction  captains,  deputy  assistant superintendents and superinten-
        dents under the jurisdiction of the department of corrections and commu-
        nity supervision of New York State to become eligible to  receive  bene-
        fits  under  the  provisions  of Article 15 of the Retirement and Social
        Security Law instead of the special plan giving  50%  of  final  average
        salary  at 25 years of service. Affected members would have 90 days from
        the later of the effective date of this bill and  their  date  of  being
        appointed  to one of the aforementioned titles to file for this benefit.
        Such elections shall be irrevocable.   Current law  only  allows  super-
        intendents  with at least seven years in such title to become covered by
        the provisions of Article 15.
          If this bill is enacted during the  2021  legislative  session,  there
        will  be  an  immediate past service cost for members currently in these
        titles of approximately $32.2 million, which would be borne by the State
        of New York as a one-time payment. This estimate is based on the assump-
        tion that payment will be made on March 1, 2022.
          In addition to this cost, there would also be future costs for members
        who are appointed to these titles and become eligible for this  improved
        benefit  in  the  future.  These costs would depend on the age, service,
        salary and tier of the affected members, and would be paid by the  State
        of New York as one-time payments as they occur.
          The  past service cost is based on 566 affected members employed, with
        annual salary of approximately $61 million as of March 31, 2020  identi-
        fied using job title code.
          Summary of relevant resources:
          Membership  data as of March 31, 2020 was used in measuring the impact
        of the proposed change, the same data used in the April 1, 2020 actuari-
        al valuation.  Distributions and other statistics can be  found  in  the
        2020  Report  of the Actuary and the 2020 Comprehensive Annual Financial
        Report.
          The actuarial assumptions and methods used are described in  the  2020
        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, 2020
        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 April 13, 2021, and intended for use only  during
        the  2021  Legislative Session, is Fiscal Note No. 2021-112, prepared by
        the Actuary for the New York State and Local Retirement System.
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