assembly Bill A7457

Amended

Grants retroactive tier V membership in the New York state and local employees' retirement system to Kirsten Mason, Laura Strizzi, Christian Ward and Austin Horton

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 21 / May / 2013
    • REFERRED TO GOVERNMENTAL EMPLOYEES
  • 06 / Jun / 2013
    • AMEND AND RECOMMIT TO GOVERNMENTAL EMPLOYEES
  • 06 / Jun / 2013
    • PRINT NUMBER 7457A
  • 13 / Jun / 2013
    • REPORTED REFERRED TO WAYS AND MEANS
  • 13 / Jun / 2013
    • REPORTED REFERRED TO RULES
  • 17 / Jun / 2013
    • REPORTED
  • 17 / Jun / 2013
    • RULES REPORT CAL.359
  • 17 / Jun / 2013
    • ORDERED TO THIRD READING RULES CAL.359
  • 18 / Jun / 2013
    • SUBSTITUTED BY S5566A

Summary

Grants retroactive tier V membership in the New York state and local employees' retirement system to Kirsten Mason, Laura Strizzi, Christian Ward and Austin Horton.

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Bill Details

See Senate Version of this Bill:
S5566
Versions:
A7457
A7457A
Legislative Cycle:
2013-2014
Law Section:
Retirement
view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 5566                                                  A. 7457

                       2013-2014 Regular Sessions

                      S E N A T E - A S S E M B L Y

                              May 21, 2013
                               ___________

IN SENATE -- Introduced by Sen. BRESLIN -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Civil Service
  and Pensions

IN ASSEMBLY -- Introduced by M. of A. McDONALD -- read once and referred
  to the Committee on Governmental Employees

AN  ACT granting retroactive tier V membership in the New York state and
  local employees' retirement system to Kirsten  Mason,  Laura  Strizzi,
  Christian Ward and Austin Horton

  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, Kirsten  Mason,
a  member  of the New York state and local employees' retirement system,
who was employed on July 1, 2010, by the village of Green  Island  as  a
recreation  assistant,  and  who  filed  membership applications in such
system on July 7, 2010 which should have given her Tier V status but for
reasons not ascribable to her own negligence and due to  an  administra-
tive  error,  the  application was not processed in the usual manner and
therefore not processed until August 16, 2012, may  be  deemed  to  have
become  a  member  of the New York state and local employees' retirement
system on July 1, 2010.
  S 2. Notwithstanding any other provision  of  law,  Laura  Strizzi,  a
member of the New York state and local employees' retirement system, who
was employed on July 1, 2010, by the village of Green Island as a recre-
ation assistant, and who filed membership applications in such system on
July  13, 2010 which should have given her Tier V status but for reasons
not ascribable to her own negligence and due to an administrative error,
the application was not processed in the usual manner and therefore  not
processed  until  July 5, 2012, may be deemed to have become a member of
the New York state and local employees' retirement  system  on  July  1,
2010.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10732-02-3

S. 5566                             2                            A. 7457

  S  3.  Notwithstanding  any  other provision of law, Christian Ward, a
member of the New York state and local employees' retirement system, who
was employed on July 1, 2010, by the village of Green Island as a recre-
ation assistant, and who filed membership applications in such system on
July  14, 2010 which should have given him Tier V status but for reasons
not ascribable to his own negligence and due to an administrative error,
the application was not processed in the usual manner and therefore  not
processed  until  July 5, 2012, may be deemed to have become a member of
the New York state and local employees' retirement  system  on  July  1,
2010.
  S  4.  Notwithstanding  any  other  provision of law, Austin Horton, a
member of the New York state and local employees' retirement system, who
was employed on July 5, 2011, by the village of Green Island as a recre-
ation assistant, and who filed membership applications in such system on
July 5, 2011 which should have given him Tier V status but  for  reasons
not ascribable to his own negligence and due to an administrative error,
the  application was not processed in the usual manner and therefore not
processed until July 19, 2012, may be deemed to have become a member  of
the  New  York  state  and local employees' retirement system on July 5,
2011.
  S 5. Any past service costs incurred in implementing the provisions of
this act shall be borne by the village of Green Island.
  S 6. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill will deem Kirsten Mason, Laura Strizzi, Christian  Ward  and
Austin  Horton, employees of the Village of Green Island, to become Tier
5 members of the New York State and Local Employees'  Retirement  System
by changing their dates of membership in the System to be the dates they
first were employed by the Village of Green Island.
  If  this bill is enacted, we anticipate that there will be an increase
in the annual contributions of the Village of Green Island  of  5.4%  of
the  annual  salaries  of these members for the fiscal year ending March
31, 2014.
  In addition to the annual contributions discussed above, there will be
an immediate past service cost of  approximately  $230  which  would  be
borne  by  the Village of Green Island as a one-time payment. This esti-
mate is based on the assumption that payment would be made  on  February
1, 2014.
  Summary of relevant resources:
  Data:  March  31,  2012  Actuarial Year End File with distributions of
membership and other statistics displayed in  the  2012  Report  of  the
Actuary and 2012 Comprehensive Annual Financial Report.
  Assumptions  and  Methods:  2010,  2011  and 2012 Annual Report to the
Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the
State of New York: Audit and Control.
  Market Assets and GASB Disclosures: March 31, 2012 New York State  and
Local  Retirement System Financial Statements and Supplementary Informa-
tion.
  Valuations of Benefit Liabilities and Actuarial Assets: summarized  in
the 2012 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 May 14, 2013 and intended for use only during the
2013  Legislative  Session, is Fiscal Note No. 2013-135, prepared by the
Actuary for the New York State and Local Employees' Retirement System.

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