S T A T E O F N E W Y O R K
2011-2012 Regular Sessions
I N S E N A T E
April 20, 2011
Introduced by Sen. VALESKY -- 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-
AN ACT granting retroactive tier IV membership in the New York state and
local employees' retirement system to Sarah Fish
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Notwithstanding any other provision of law, Sarah Fish, a
member of the New York state and local employees' retirement system, who
was employed as a staff social worker on December 28, 2009, by the coun-
ty of Madison, for reasons not ascribable to her own negligence, did not
file a membership application in such system until January 4, 2010,
which gave her Tier V status instead of Tier IV status, where she would
have been had she been able to file a membership application when she
became a permanent employee on December 28, 2009 may be deemed to have
become a member of the New York state and local employees' retirement
system December 28, 2009 if on or before December 31, 2012 she shall
file with the state comptroller a written request to that effect. Upon
the granting of such retroactive membership, Sarah Fish shall not be
granted a refund of any employee contribution made by her to the New
York state and local employees' retirement system.
S 2. Any past service costs incurred in implementing the provisions of
this act shall be borne by Madison county.
S 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would grant Tier 4 membership in the New York State and
Local Employees' Retirement System to Sarah Fish by changing her date of
membership to December 28, 2009. She currently is a Tier 5 member.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 4767--A 2
If this bill is enacted, we anticipate that there will be an increase
in the annual contributions of Madison County for the fiscal year ending
March 31, 2013 of approximately $1,900.
In addition to the annual contributions discussed above, there will be
a one-time past service cost of approximately $1,650 which will be borne
by Madison County, assuming a payment date of February 1, 2013.
Summary of relevant resources:
Data: March 31, 2011 Actuarial Year End File with distributions of
membership and other statistics displayed in the 2011 Report of the
Actuary and 2011 Comprehensive Annual Financial Report.
Assumptions and Methods: 2010 and 2011 Annual Report to the Comp-
troller on Actuarial Assumptions, Codes Rules and Regulations of the
State of New York; Audit and Control.
Market Assets and GASB Disclosures: March 31, 2011 New York State and
Local Retirement System Financial Statements and Supplementary Informa-
Valuations of Benefit Liabilities and Actuarial Assets: summarized in
the 2011 Actuarial Valuations report.
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 April 13, 2012, and intended for use only during
the 2012 Legislative Session, is Fiscal Note No. 2012-131, prepared by
the Actuary for the New York State and Local Employees' Retirement