S T A T E O F N E W Y O R K
S. 6936 A. 9236
S E N A T E - A S S E M B L Y
April 2, 2014
IN SENATE -- Introduced by Sen. BRESLIN -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Civil Service
IN ASSEMBLY -- Introduced by M. of A. McDONALD -- read once and referred
to the Committee on Governmental Employees
AN ACT granting retroactive tier IV membership in the New York state and
local employees' retirement system to Brian Stebbins
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, Brian Stebbins,
a member of the New York state and local employees' retirement system,
who was employed on August 1, 2003, by the village of Green Island, and
who filed a membership application in such system on August 1, 2003,
which should have given him Tier IV status but for reasons not ascriba-
ble to his own negligence and due to an administrative error, the appli-
cation was not processed in the usual manner and therefore not processed
until March 15, 2012, may be deemed to have become a member of the New
York state and local employees' retirement system on August 1, 2003, if
on or before December 31, 2014 he shall file an application therefor
with the state comptroller. Upon the receipt of such application, Brian
Stebbins shall be granted Tier IV status in the New York state and local
employees' retirement system and be eligible for all the rights and
benefits thereof. No contributions made to the New York state and local
employees' retirement system by Brian Stebbins shall be returned to him
pursuant to this act.
S 2. Any past service costs incurred in implementing the provisions of
this act shall be borne by the village of Green Island.
S 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill will grant Tier 4 status in the New York State and Local
Employees' Retirement System to Brian M. Stebbins, a current Tier 5
member employed by the State of New York, by changing his date of
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 6936 2 A. 9236
membership to August 1, 2003, the first date he was employed by the
Village of Green Island.
If this legislation is enacted during the 2014 legislative session, we
anticipate that thee will be an increase of approximately $2,100 in the
annual contributions of the State of New York 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 $2,800 which will be
borne by the Village of Green Island as a one time payment. This esti-
mate is based on the assumption that payment will be made on February 1,
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
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
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 January 17, 2014 and intended for use only during
the 2014 Legislative Session, is Fiscal Note No. 2014-54, prepared by
the Actuary for the New York State and Local Employees' Retirement