Senate Bill S5681

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

                                  5681

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              June 4, 2013
                               ___________

Introduced  by Sen. NOZZOLIO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT relating to the right of Ontario county to  opt  out  of  certain
  provisions of the 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 to the  contra-
ry,  the  county  of  Ontario,  a participating employer in the New York
state and local employees' retirement system, which  previously  elected
to  offer  service credit for unused sick leave, established pursuant to
subdivision j of section 41 of the retirement and social  security  law,
to  members of the New York state and local employees' retirement system
employed by such county, is  hereby  authorized  to  continue  to  offer
service  credit  for  unused sick leave to any employee who was hired by
the county before the effective date of this  act.  All  such  employees
shall be entitled to the full rights and benefits associated with cover-
age under subdivision j of section 41 of the retirement and social secu-
rity  law.  The county of Ontario is hereby authorized, by resolution of
its governing body, to exclude from the provisions of subdivision  j  of
section  41  of  the  retirement  and social security law, all employees
hired by the county on or after the effective date of this act.
  S 2. This act shall take effect immediately.
  FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
  This bill will allow the county of Ontario to  exclude  all  employees
hired by the county on or after the effective date of this act, from the
provisions  of  subdivision j of section 41 of the retirement and social
security law.
  If this legislation is enacted during the 2013 Legislative Session, we
anticipate that there will be a decrease in the annual contribution rate
of Ontario County for new employees of 0.2% of  salary  for  the  fiscal
year ending March 31, 2014.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11247-02-3
              

S. 5681                             2

  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-
tion.
  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  May 23, 2013, and intended for use only during
the 2013 Legislative Session, is Fiscal Note No. 2013-156,  prepared  by
the  Actuary  for  the  New  York  State and Local Employees' Retirement
System.