Bill Text: NY S06730 | 2017-2018 | General Assembly | Amended


Bill Title: Grants retroactive membership in the New York state and local employees' retirement system to Joseph J. Maltese.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2018-06-20 - SUBSTITUTED BY A8411B [S06730 Detail]

Download: New_York-2017-S06730-Amended.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                         6730--B
                               2017-2018 Regular Sessions
                    IN SENATE
                                      June 15, 2017
                                       ___________
        Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules  --  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 -- committee
          discharged, bill amended, ordered reprinted as amended and recommitted
          to said committee
        AN ACT granting retroactive membership in the New York state  and  local
          employees' retirement system to Joseph J. Maltese
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Notwithstanding any other law to the  contrary,  Joseph  J.
     2  Maltese, who was employed as a full-time employee with the New York city
     3  civil court from February 2, 1970 through September 4, 1970, and who was
     4  later employed as a full-time employee with the New York state office of
     5  the  attorney  general  from June 7, 1971 through September 3, 1971, and
     6  who is currently a full-time employee of  the  New  York  state  unified
     7  court  system,  and  who  is  a Tier II member of the New York state and
     8  local employees' retirement system, and who through no fault of his  own
     9  did  not  become  a  member  of  the New York city employees' retirement
    10  system on February 2, 1970 when first employed  by  the  New  York  city
    11  civil  court,  and  who  through  no  fault of his own, did not become a
    12  member of the New York state and local employees' retirement  system  on
    13  July  7,  1971  when  first employed by the New York state office of the
    14  attorney general shall be deemed to have a date of membership  with  the
    15  New  York  state  and  local employees' retirement system of February 2,
    16  1970, if, within one year of the effective date of this  act,  he  shall
    17  file  an  application  therefore  with  the  state comptroller. Upon the
    18  receipt of such application, Joseph J. Maltese shall be granted  Tier  I
    19  status  in the New York state and local employees' retirement system and
    20  be eligible for all the rights and benefits  thereof.  No  contributions
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13100-08-8

        S. 6730--B                          2
     1  made  to  the New York city employees' retirement system or the New York
     2  state and local employees' retirement system by Joseph J. Maltese, shall
     3  be returned or refunded to him pursuant to this act.
     4    § 2. Any past service costs associated with the implementation of this
     5  act shall be borne by the New York state unified court system.
     6    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  will  grant  Tier 1 status to Joseph J. Maltese, a current
        Tier 2 member employed by the New York State unified  court  system,  by
        changing  his  date of membership to February 2, 1970, his first date of
        employment with the New York City civil court. There will be  no  refund
        of member contributions.
          If this legislation is enacted during the 2018 legislative session, we
        anticipate that there will be an increase of approximately $4,300 in the
        annual  contributions of the New York State unified court system for the
        fiscal year ending March 31, 2019. In future years, this cost will  vary
        as the billing rate and salary of Joseph Maltese change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service cost of approximately $30,500 which will be
        borne by the New York State unified court system as a one-time  payment.
        This  estimate  is  based on the assumption that payment will be made on
        March 1, 2019.
          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, 2017 actuarial valu-
        ation.  Distributions and other statistics can  be  found  in  the  2017
        Report  of  the  Actuary  and  the  2017  Comprehensive Annual Financial
        Report.
          The actuarial assumptions and methods used are described in the  2015,
        2016,  and  2017  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, 2017
        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 estimate, dated June 14, 2018, and intended for use  only  during
        the  2018  Legislative Session, is Fiscal Note No. 2018-125, prepared by
        the Actuary for the New York State and Local Retirement System.
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