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

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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-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         7011--A

                               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
          -- 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  commit-
          tee

        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:

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10878-05-4
        S. 7011--A                          2

          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,  their  first  date  of employment with the Clarkstown
        Central  School  District.  There  will  be no refund of member contrib-
        utions.
          If this bill is enacted during the 2024 Legislative Session, we antic-
        ipate that there will be an increase  of  approximately  $7,500  in  the
        annual contributions of Rockland County for the fiscal year ending March
        31,  2025.  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 $19,100  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, 2025.
          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 April 15, 2024, and intended for use only during
        the 2024 Legislative Session, is Fiscal Note No. 2024-163,  prepared  by
        the Actuary for the New York State and Local Retirement System.