S T A T E O F N E W Y O R K
2013-2014 Regular Sessions
I N S E N A T E
January 9, 2013
Introduced by Sen. GRISANTI -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
AN ACT in relation to allowing Karen McClure to file a request for Tier
II status in the New York state and local employees' retirement system
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, Karen McClure,
who is a member of the New York state and local employees' retirement
system, and who was employed as a city auditor in the city of Olean and
in the county of Cattaraugus for the period beginning July 1973 and
ending September 1973, and who was employed as a treasurer for the coun-
ty of Cattaraugus for the period beginning July 1974 and ending Septem-
ber 1976, and who for reasons not ascribable to her own negligence did
not become a member of the New York state and local employees' retire-
ment system at the time of her hiring and who is currently a Tier III
member of the New York state and local employees' retirement system
shall be deemed to have become a member of such system as of July 1,
1973 entitling her to Tier II status with every right, benefit and priv-
ilege which would have been available to her on such date if, within one
year of the effective date of this act, she shall file a written request
to that effect with the state comptroller. Upon the granting of such
retroactive membership, Karen McClure shall be granted a refund of any
employee contributions made by her to the New York state and local
S 2. All past service costs associated with the implementation of this
act shall be borne by the state of New York.
S 3. This act shall take effect immediately.
FISCAL NOTE.--This bill will deem Karen McClure to have become a
member of the New York State and Local Employees' Retirement System on
July 1, 1973, her first date of employment with the city of Olean,
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 721 2
thereby granting her Tier 2 status. All member contributions will be
If this bill is enacted, we anticipate that there will be an increase
of approximately $2,900 in the annual contributions of Erie County 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 $86,300 which will be
borne by the State of New York as a one-time payment. This estimate is
based on the assumption that payment will be made on March 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-
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 November 28, 2012 and intended for use only
during the 2013 Legislative Session, is Fiscal Note No. 2013-11,
prepared by the Actuary for the New York State and Local Employees'