Senate Bill S7269

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

    S. 7269                                                 A. 10056

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

                               May 2, 2012
                               ___________

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

IN  ASSEMBLY  --  Introduced  by  M.  of  A. LOSQUADRO, TOBACCO, HAWLEY,
  MURRAY, BURLING, RA, CASTRO, CLARK, GOODELL,  WEISENBERG,  FITZPATRICK
  --  Multi-Sponsored  by  --  M. of A. AMEDORE, CERETTO, COLTON, CONTE,
  DUPREY, GIGLIO, GRAF,  McDONOUGH,  McLAUGHLIN,  J. MILLER,  MONTESANO,
  PALMESANO,  RAIA,  SALADINO,  SAYWARD,  SIMANOWITZ,  TEDISCO,  TITONE,
  WALTER -- read once and referred  to  the  Committee  on  Governmental
  Employees

AN  ACT  to amend the retirement and social security law, in relation to
  military service credit for members of the armed forces who received a
  Kosovo Campaign Medal

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

  Section  1.  Paragraph  (d)  of  subdivision  2 of section 1000 of the
retirement and social security law, as added by chapter 548 of the  laws
of 2000, is amended to read as follows:
  (d)  hostilities  participated in by the military forces of the United
States, from the second day of August, nineteen hundred ninety,  to  the
end  of  such hostilities in case of a veteran who served in the theater
of operations including Iraq, Kuwait, Saudi Arabia, Bahrain, Qatar,  the
United  Arab  Emirates,  Oman,  the  Gulf of Aden, the Gulf of Oman, the
Persian Gulf, the Red Sea, and the airspace above  these  locations  AND
MEMBERS  WHO  RECEIVED  A  KOSOVO  CAMPAIGN MEDAL IN SUPPORT OF MILITARY
OPERATIONS PERFORMED IN KOSOVO.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill would allow up to three (3)  years  of  service  credit  for
members  of  public  retirement  systems  in New York State who rendered
military service and received a Kosovo Campaign Medal. Members must have
at  least  five  years  of  credited  service  (not  including  military
service).  Members  would be required to make a payment of three percent

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

                                                           LBD15179-02-2

S. 7269                             2                           A. 10056

of their most recent compensation per year of additional service  credit
granted by this bill.
  If this bill is enacted, insofar as this proposal affects the New York
State and Local Employees' Retirement System (ERS), it is estimated that
the  past  service  cost  will  average approximately 12% of an affected
members' compensation for each year of additional service credit that is
purchased.
  Insofar as this proposal affects the New York State and  Local  Police
and Fire Retirement System (PFRS), it is estimated that the past service
cost will average approximately 17% of an affected members' compensation
for each year of additional service that is purchased.
  The  number  of  current  and  future  members  who have such military
service and would benefit by purchasing the  service  credit  cannot  be
readily determined.
  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-
tion.
  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 March 30, 2012 and intended for use  only  during
the  2012  Legislative Session, is Fiscal Note No. 2012-125, prepared by
the Actuary for the New  York  State  and  Local  Employees'  Retirement
System  and  the  New  York  State  and Local Police and Fire Retirement
System.