S T A T E O F N E W Y O R K
________________________________________________________________________
7151
2015-2016 Regular Sessions
I N A S S E M B L Y
April 27, 2015
___________
Introduced by M. of A. WALTER -- read once and referred to the Committee
on Governmental Employees
AN ACT to authorize Annlouise Cirelli to purchase service credit in the
New York state teachers' retirement system for certain employment
out-of-state
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, Annlouise
Cirelli, a retiree of the New York state teachers' retirement system,
who joined the retirement system as a tier four member pursuant to
section 645 of the retirement and social security law reinstated to a
tier one membership and who subsequently was employed as a teacher by
the Cincinnati Public School District from 1975 through 1981, and such
as if it had been performed for an employer defined in subdivision 3 of
section 501 of the education law would constitute service as a teacher,
shall be authorized to purchase service credit in such retirement system
for her employment by the Cincinnati Public School District if, within
180 days of the effective date of this act, she applies to the head of
the New York state teachers' retirement system. Under current New York
state law Ms. Cirelli, a tier one retiree of the New York state teach-
ers' retirement system, is not permitted to purchase out of state
service since such service occurred subsequent to her date of membership
in the New York state teachers' retirement system.
S 2. All costs attributable to the implementation of this act shall be
borne by the employers of members of the New York state teachers'
retirement system.
S 3. This act shall take effect immediately.
FISCAL NOTE.-- This bill will grant temporary ordinary disability
retirement benefits to Lois J. Reid, a service retiree of the New York
State and Local Employees' Retirement System with a date of retirement
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10635-02-5
A. 7151 2
of March 1, 2003, for the period from June 19, 1992 through March 1,
2003.
If this bill is enacted, we anticipate that there will be an immediate
past service cost of approximately $127,000. This cost 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, 2016.
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, 2014 actuarial valu-
ation. Distributions and other statistics can be found in the 2014
Report of the Actuary and the 2014 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2010,
2011, 2012, 2013 and 2014 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, 2014
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 March 5, 2015 and intended for use only during
the 2015 Legislative Session, is Fiscal Note No. 2015-85, prepared by
the Actuary for the New York State and Local Employees' Retirement
System.