Senate Bill S3758A

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

                                 3758--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 14, 2013
                               ___________

Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions
  -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
  accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT  to amend the retirement and social security law, in relation to
  providing  equal  retirement  benefits  for  persons  who  have   been
  appointed  to  the  title  of  superintendent  in  the  department  of
  corrections and community supervision

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

  Section  1. Clause (ii) of subparagraph (b) of paragraph 2 of subdivi-
sion a of section 600 of the retirement  and  social  security  law,  as
amended  by section 149 of subpart B of part C of chapter 62 of the laws
of 2011, is amended and three new clauses (iii), (iv) and (v) are  added
to read as follows:
  (ii)  a  person  who serves in the title of superintendent as of April
first, two thousand six, who has had at least  seven  years  of  service
credited toward the retirement plan established pursuant to this article
while  employed  by  the  department of corrections and community super-
vision and who elects the retirement plan established pursuant  to  this
article  on  or  before  September  thirtieth,  two  thousand  six. Such
election shall be in writing, shall be duly executed and filed with  the
comptroller  and  shall  be irrevocable as long as such person is in the
title of superintendent[.]; OR
  (III) A PERSON WHO IS APPOINTED TO THE TITLE  OF  SUPERINTENDENT,  WHO
HAS  SERVED  AT  LEAST  TWENTY-FIVE  YEARS  AS A MEMBER IN THE UNIFORMED
PERSONNEL IN INSTITUTIONS UNDER THE JURISDICTION OF  THE  DEPARTMENT  OF
CORRECTIONS AND COMMUNITY SUPERVISION AND WHO ELECTS THE RETIREMENT PLAN
ESTABLISHED  PURSUANT  TO  THIS ARTICLE WITHIN NINETY DAYS OF HIS OR HER

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05749-04-4
              

S. 3758--A                          2

APPOINTMENT.  SUCH ELECTION SHALL BE IN WRITING, SHALL BE DULY  EXECUTED
AND  FILED WITH THE COMPTROLLER AND SHALL BE IRREVOCABLE AS LONG AS SUCH
PERSON IS IN THE TITLE OF SUPERINTENDENT; OR
  (IV)  A PERSON WHO SERVES IN THE TITLE OF SUPERINTENDENT ON THE EFFEC-
TIVE DATE OF THIS CLAUSE, WHO HAS SERVED AT LEAST TWENTY-FIVE YEARS AS A
MEMBER IN THE UNIFORMED PERSONNEL IN INSTITUTIONS UNDER THE JURISDICTION
OF THE DEPARTMENT OF  CORRECTIONS  AND  COMMUNITY  SUPERVISION  AND  WHO
ELECTS  THE  RETIREMENT PLAN ESTABLISHED PURSUANT TO THIS ARTICLE WITHIN
NINETY DAYS OF THE EFFECTIVE DATE OF THIS CLAUSE. SUCH ELECTION SHALL BE
IN WRITING, SHALL BE DULY EXECUTED AND FILED WITH  THE  COMPTROLLER  AND
SHALL  BE  IRREVOCABLE  AS LONG AS SUCH PERSON IS IN THE TITLE OF SUPER-
INTENDENT; OR
  (V) A PERSON WHO HAS RETIRED WHILE SERVING IN THE TITLE OF SUPERINTEN-
DENT, WHO HAS SERVED AT LEAST TWENTY-FIVE  YEARS  AS  A  MEMBER  IN  THE
UNIFORMED  PERSONNEL  IN  INSTITUTIONS  UNDER  THE  JURISDICTION  OF THE
DEPARTMENT OF CORRECTIONS AND COMMUNITY SUPERVISION AND WHO  ELECTS  THE
RETIREMENT  PLAN ESTABLISHED PURSUANT TO THIS ARTICLE WITHIN NINETY DAYS
OF THE EFFECTIVE DATE OF THIS CLAUSE. SUCH ELECTION SHALL BE IN WRITING,
SHALL BE DULY EXECUTED AND FILED WITH THE COMPTROLLER AND SHALL BE IRRE-
VOCABLE.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.  This bill would allow certain Tier 3,  5  and  6  super-
intendents  under  the jurisdiction of the department of corrections and
community supervision of New York state to become  eligible  to  receive
benefits under the provisions of Article 15 of the Retirement and Social
Security  Law in addition to the half-pay plan at 25 years benefit. This
bill would  also  cover  retired  superintendents.  Current  and  future
affected  members  and retirees would have 90 days from the later of the
effective date of this bill and their  date  of  being  appointed  to  a
superintendent position to file for this benefit.
  If this bill is enacted, we anticipate that there will be an immediate
past service cost of approximately $3.63 million which would 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, 2015.
  In addition to this cost, there would also be costs for future  super-
intendents  who elect this benefit. These costs would depend on the age,
service, salary and tier of the affected members, and would be  paid  by
the State of New York as one time payments as they occur.
  These  estimated  costs  are  based on 26 superintendents with a total
annual salary of approximately $2.9 million for the fiscal  year  ending
March 31, 2013.
  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.

S. 3758--A                          3

  I am a member of the American Academy of Actuaries and meet the Quali-
fication  Standards  to  render  the  statements  of  actuarial  opinion
contained herein.
  This  estimate,  dated  February  11,  2014  and intended for use only
during the  2014  Legislative  Session,  is  Fiscal  Note  No.  2014-79,
prepared  by  the  Actuary  for  the New York State and Local Employees'
Retirement System.