senate Bill S7256

Amended

Relates to allowing members of the NYSLPFRS to receive credit for service rendered with Metro-North, the L.I. Railroad or MTA

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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

  • 08 / May / 2014
    • REFERRED TO CIVIL SERVICE AND PENSIONS
  • 28 / May / 2014
    • REPORTED AND COMMITTED TO FINANCE
  • 16 / Jun / 2014
    • AMEND (T) AND RECOMMIT TO FINANCE
  • 16 / Jun / 2014
    • PRINT NUMBER 7256A

Summary

Allows any police officer who was employed by the Metropolitan Transportation Authority, the Long Island Railroad Company or the Metro-North Commuter Railroad Company and who is a member of the MTA police retirement program to transfer his or her membership to the New York State and Local Police and Fire Retirement System.

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Bill Details

See Assembly Version of this Bill:
A9593
Versions:
S7256
S7256A
Legislative Cycle:
2013-2014
Current Committee:
Senate Finance
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd ยง341, R & SS L

Votes

9
0
9
Aye
0
Nay
2
aye with reservations
0
absent
0
excused
0
abstained
show Civil Service and Pensions committee vote details

Sponsor Memo

BILL NUMBER:S7256

TITLE OF BILL: An act to amend the retirement and social security
law, in relation to providing prior police service credit for police
officers employed by employers not participating in the New York state
and local police and fire retirement system who are hired by the state
or a participating employer in the New York state and local police and
fire retirement system

PURPOSE: This bill would allow certain police members of the New York
State and Local Police and Fire Retirement System to receive service
credit for service rendered with the Metro-North Commuter Railroad
Company, the Long Island Railroad Company and the Metropolitan
Transportation Authority. Such members must render at least two years
of service with a participating employer to receive credit for such
service.

SUMMARY OF PROVISIONS: Amends Subdivision b of section 341 of the
Retirement and Social Security Law through the addition of a new
paragraph 9.

JUSTIFICATION: Many police officers employed by municipalities and
public authorities in New York State, switch employment at some time
in their career to take advantage of a promotional opportunity or to
otherwise improve their career status. This legislation would allow
for service with Metro-North, the LIRR and the MTA to be credited in
other similar employment in the State.

LEGISLATIVE HISTORY: S.5406/A.5965 of 8008 - Passed Senate/ Assembly
Ways and Means S.5406/A.5965 of 2007 - Passed Senate/Assembly Gov.
Employees S.7800/A.8548-A of 2006 - Passed Senate/Assembly Gov.
Employees

FISCAL IMPLICATIONS: See fiscal note.

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
________________________________________________________________________

                                  7256

                            I N  S E N A T E

                               May 8, 2014
                               ___________

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

AN ACT to amend the retirement and social security law, in  relation  to
  providing  prior police service credit for police officers employed by
  employers not participating in the New York state and local police and
  fire retirement system who are hired by the state or  a  participating
  employer  in  the  New York state and local police and fire retirement
  system

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision b of section 341 of the retirement and social
security law is amended by adding a new paragraph 9 to read as follows:
  9. NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS  SUBDIVISION,  ANY
POLICE EMPLOYEE WHO HAD PRIOR POLICE SERVICE WITH THE METRO-NORTH COMMU-
TER  RAILROAD COMPANY, THE LONG ISLAND RAILROAD COMPANY OR THE METROPOL-
ITAN TRANSPORTATION AUTHORITY SHALL BE GIVEN  CREDIT  FOR  SUCH  SERVICE
WHEN  HE  OR  SHE  RENDERS AT LEAST TWO YEARS OF MEMBER SERVICE WITH THE
STATE OR ANY PARTICIPATING EMPLOYER.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill would allow members of the New York State and  Local  Police
and  Fire Retirement System (PFRS) to receive service credit for service
rendered with the Metro-North Commuter Railroad Company, the Long Island
Railroad Company or  the  Metropolitan  Transportation  Authority.  Such
members must render at least two (2) years of service with a participat-
ing employer to receive credit for such service.
  The number of members who could be affected by this legislation cannot
be readily determined.
  If  this bill is enacted, there would be a past service cost on behalf
of each member with such service, and would depend on the member's  age,
credited  service, plan, salary and the amount of the additional service
credit being granted. It is estimated that the past  service  cost  will
average  approximately 20% of an affected members' compensation for each
such year of additional service. This cost would  be  reduced    by  the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14284-02-4

S. 7256                             2

member  contributions,  which  vary according to tier coverage, and will
range between 0% to 6% of compensation. This cost would be shared by the
State of New York and all participating employers in the PFRS.
  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 March 17, 2014, and intended for use only during
the 2014 Legislative Session, is Fiscal Note No. 2014-100,  prepared  by
the  Actuary for the New York State and Local Police and Fire Retirement
System.

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