S T A T E O F N E W Y O R K
2013-2014 Regular Sessions
I N S E N A T E
January 9, 2013
Introduced by Sen. GRISANTI -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
-- committee discharged, bill amended, ordered reprinted as amended
and recommitted to said committee
AN ACT in relation to allowing Karen McClure to file a request for Tier
II status in the New York state and local employees' 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, Karen McClure,
who is a member of the New York state and local employees' retirement
system, and who was employed as a city auditor in the city of Olean and
in the county of Cattaraugus for the period beginning July 1973 and
ending September 1973, and who was employed as a treasurer for the coun-
ty of Cattaraugus for the period beginning July 1974 and ending Septem-
ber 1976, and who for reasons not ascribable to her own negligence did
not become a member of the New York state and local employees' retire-
ment system at the time of her hiring and who is currently a Tier III
member of the New York state and local employees' retirement system
shall be deemed to have become a member of such system as of July 1,
1973 entitling her to Tier II status with every right, benefit and priv-
ilege which would have been available to her on such date if, within one
year of the effective date of this act, she shall file a written request
to that effect with the state comptroller. Upon the granting of such
retroactive membership, Karen McClure shall be granted a refund of any
employee contributions made by her to the New York state and local
S 2. All past service costs associated with the implementation of this
act shall be borne by the state of New York.
S 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 721--A 2
This bill will deem Karen McClure to have become a member of the New
York State and Local Employees' Retirement System on July 1, 1973, her
first date of employment with the city of Olean, thereby granting her
Tier 2 status. All member contributions will be refunded.
If this bill is enacted, we anticipate that there will be an increase
of approximately $2,790 in the annual contributions of Erie County for
the fiscal year ending March 31, 2015.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $58,700 which will 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.
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 October 29, 2013 and intended for use only during
the 2014 Legislative Session, is Fiscal Note No. 2014-25, prepared by
the Actuary for the New York State and Local Employees' Retirement