Bill Text: NY S07011 | 2023-2024 | General Assembly | Introduced

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

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Bill Title: Grants retroactive tier IV membership in the New York state and local employees' retirement system to Raymond Ruckel.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed) 2024-06-07 - referred to governmental employees [S07011 Detail]

Download: New_York-2023-S07011-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7011

                               2023-2024 Regular Sessions

                    IN SENATE

                                      May 16, 2023
                                       ___________

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

        AN ACT granting retroactive tier IV membership in the New York state and
          local employees' retirement system to Raymond Ruckel

          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 to the contrary,
     2  Raymond Ruckel, a tier VI member of the New York state and local employ-
     3  ees'  retirement system employed by the Rockland county sheriff's office
     4  correction division and who was employed as a  full-time  employee  with
     5  Clarkstown  Central School District from August 1, 1990 through December
     6  1, 1990 and who, through no fault of his own, did not become a member of
     7  the New York state and local employees' retirement system on  August  1,
     8  1990  when  he  became  eligible for membership in such system, shall be
     9  deemed to have a date of membership with the New York  state  and  local
    10  employees'  retirement  system  of  August  1,  1990 if he shall file an
    11  application therefore with the state comptroller within one year of  the
    12  effective  date  of  this  act.  Upon  the  receipt of such application,
    13  Raymond Ruckel shall be granted tier IV status in the New York state and
    14  local employees' retirement system and shall be  eligible  for  all  the
    15  rights and benefits thereof.
    16    § 2. All past service costs of implementing the provisions of this act
    17  shall be borne by Clarkstown Central School District, and there shall be
    18  no refund of member contributions to Raymond Ruckel.
    19    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  grant Tier 4 status in the New York State and Local
        Employees' Retirement System to Raymond Ruckel, a current Tier 6  member
        employed  by  Rockland  County,  by changing their date of membership to
        August 1, 1990. There will be no refund of member contributions.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10878-03-3
        S. 7011                             2

          If this bill is enacted during the 2023 legislative session, we antic-
        ipate that there will be an increase  of  approximately  $5,900  in  the
        annual contributions of Rockland County for the fiscal year ending March
        31,  2024. In future years, this cost will vary as the billing rates and
        salary of Raymond Ruckel change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service cost of approximately $40,300 which will be
        borne by the Clarkstown Central School District as a  one-time  payment.
        This estimate assumes that payment will be made on February 1, 2024.
          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 May 15, 2023, and intended for  use  only  during
        the  2023  Legislative Session, is Fiscal Note No. 2023-154, prepared by
        the Actuary for the New York State and Local Retirement System.