senate Bill S6493

Authorizes Jaime Laczko to elect to participate in the optional 25 year retirement plan for forest rangers

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Sponsor

Bill Status


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

  • 29 / Jan / 2014
    • REFERRED TO CIVIL SERVICE AND PENSIONS

Summary

Authorizes Jaime Laczko to elect to participate in the optional 25 year retirement plan for forest rangers in the service of the department of environmental conservation.

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Bill Details

See Assembly Version of this Bill:
A8711
Versions:
S6493
Legislative Cycle:
2013-2014
Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement

Sponsor Memo

BILL NUMBER:S6493

TITLE OF BILL: An act to authorize Jaime Laczko to elect to
participate in the optional twenty-five year retirement plan for
forest rangers in the service of the department of environmental
conservation

PURPOSE: Authorizes Jaime Laczko to elect to participate in the
optional 25 year retirement plan for forest rangers

SUMMARY OF PROVISIONS:

Section 1- Authorizes Jaime Laczko to file an application with the
State Comptroller to participate in the retirement plan established
under section 383-c of the retirement and social security law. The
bill further provides that he application must be filed within one
year of the effective date of this act.

Section 2- Provides that all past cost associated with implementing
the previsions of this act shall be jointly borne by the state of New
York and Jamie Laczko.

Section 3- Contains the effective date.

JUSTIFICATION: Forest Ranger Jaime Laczko was placed in the Police
and Fire retirement plan 375-H rather than the 383-C plan option. At
the time forest rangers were made police officers in 2006 they were
given the option to transfer into the Police and Fire Retirement
System. Ranger Laczko's intent was to be placed in the 383-C plan
which would allow him to retire after 25 years of service.

LEGISLATIVE HISTORY: Similar to S. 3181/A. 5012 of 2013 Veto Memo 204

FISCAL IMPLICATIONS: $4,000 increase in the annual contributions of
the State of New York for the fiscal year ending March 31, 2014. In
addition, there will be an immediate past service cost of $72,800
which would be equally shared by Jaime Laczko and the State of New
York as one-time payments. Each party will pay approximately $36,400.

EFFECTIVE DATE: This act shall take effect immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6493

                            I N  S E N A T E

                            January 29, 2014
                               ___________

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

AN ACT to authorize Jaime Laczko to elect to participate in the optional
  twenty-five year retirement plan for forest rangers in the service  of
  the department of environmental conservation

  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, Jaime Laczko, a
member of the New York  state  and  local  police  and  fire  retirement
system,  who is employed by the department of environmental conservation
as a full-time forest ranger I,  who  upon  commencing  such  employment
became  a  member of such retirement system subject to the provisions of
section 375-h of the retirement and social security law, who was  eligi-
ble,  at such time, to elect to join the New York state and local police
and fire retirement system subject  to  the  optional  twenty-five  year
retirement  plan  for forest rangers in the service of the department of
environmental conservation pursuant to section 383-c of  the  retirement
and  social security law, and who, for reasons not ascribable to his own
negligence, failed to elect to  participate  in  such  twenty-five  year
retirement  plan,  shall be deemed to have elected to participate in the
retirement plan, established by section  383-c  of  the  retirement  and
social  security  law,  upon  commencement of his employment as a forest
ranger I, if, within 1 year of the effective date of this act, he  shall
file  an application therefor with the state comptroller, and within 180
days thereafter, he shall pay to the New York state and local police and
fire retirement system 50 per centum of the past service  costs  associ-
ated  with implementing the provisions of this section, as determined by
the state comptroller.
  S 2. All past costs associated with  implementing  the  provisions  of
this  act  shall  be  jointly  borne  by the state of New York and Jaime
Laczko.
  S 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.
                                                           LBD01149-05-4

S. 6493                             2

  This bill will deem Jaime Laczko, a Forest  Ranger  currently  covered
under  an  age 55 retirement plan, to have elected to participate in the
25 year retirement plan established by Section 383-c of  the  Retirement
and Social Security Law.
  If  this bill is enacted, we anticipate that there will be an increase
of approximately $4,000 in the annual contributions of the State of  New
York for the fiscal year ending March 31, 2015.
  In addition to the annual contributions discussed above, there will be
an  immediate past service cost of $72,800 which would be equally shared
by Jaime Laczko and the State of New York as one-time payments.   Assum-
ing  a  payment date of March 1, 2015, each party will pay approximately
$36,400.
  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, 2013 actuarial valu-
ation.  Distributions and other statistics can  be  found  in  the  2013
Report  of  the  Actuary  and  the  2013  Comprehensive Annual Financial
Report.
  The actuarial assumptions and methods used are described in the  2010,
2011,  2012  and  2013  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, 2013
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 January 24, 2014 and intended for use only during
the 2014 Legislative Session, is Fiscal Note No.  2014-58,  prepared  by
the  Actuary for the New York State and Local Police and Fire Retirement
System.

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