Assembly Bill A7116A

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

                                 7116--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             April 23, 2015
                               ___________

Introduced  by M. of A. MAYER -- read once and referred to the Committee
  on Governmental Employees -- recommitted to the Committee  on  Govern-
  mental Employees in accordance with Assembly Rule 3, sec. 2 -- commit-
  tee  discharged, bill amended, ordered reprinted as amended and recom-
  mitted to said committee

AN ACT in relation to authorizing Brian Mulqueen to file a  request  for
  change  of  benefit  coverage with the New York state and local police
  and fire 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, Brian Mulqueen,
who  is  currently  a  member of the New York state and local police and
fire retirement system, and who was first employed as a  firefighter  by
the  city  of  Yonkers  on October 1, 2009, and by virtue of his date of
employment became a member of the New York state and  local  police  and
fire retirement system who elected to participate in the optional twenty
year  retirement  plan  contained in section 384-d of the retirement and
social security law, and who subsequently, for reasons not ascribable to
his own negligence, failed to file a timely election to  be  covered  by
the benefits of article 22 of such law, shall be deemed to be covered by
the  benefits  of  such  article 22 if, within one year of the effective
date of this act, he shall file a written request to  that  effect  with
the state comptroller.
  S 2. All past service costs associated with the implementation of this
act shall be borne by the city of Yonkers.
  S 3. This act shall take effect immediately.
  FISCAL NOTE--Pursuant to Legislative Law, Section 50:
  This  bill  would  allow Brian Mulqueen, a firefighter employed by the
City of Yonkers, to elect to become  covered  under  the  provisions  of
Section  384-e  of  the  Retirement  and Social Security Law as a Tier 5

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09976-06-6

              

A. 7116--A                          2

member. He is currently covered under the  provisions  of  the  20  year
retirement plan in Article 14.
  If such legislation is enacted during the 2016 legislative session, we
anticipate  that  there  will  not be an increase in the annual contrib-
utions of the City of Yonkers for the fiscal year ending March 31, 2017.
  There also will be no past service cost.
  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, 2015 actuarial valu-
ation.  Distributions and other statistics can  be  found  in  the  2015
Report  of  the  Actuary  and  the  2015  Comprehensive Annual Financial
Report.
  The actuarial assumptions and methods used are described in  the  2015
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, 2015
New  York  State  and  Local  Retirement System Financial Statements and
Supplementary Information.
  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 26, 2016 and intended for use only during
the 2016 Legislative Session, is Fiscal Note No.  2016-41,  prepared  by
the Actuary for the New York State and Local Retirement System.