Senate Bill S7174B

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

                                  7174

                            I N  S E N A T E

                              April 5, 2016
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions

AN ACT to amend chapter 504 of the laws of 2009 amending the  retirement
  and social security law and other laws relating to establishing police
  and  fire  retirement  provisions,  in  relation  to persons joining a
  public retirement system on or after July 1, 2009 and  before  January
  10, 2010

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 8 of part A of chapter 504 of  the  laws  of  2009,
amending  the retirement and social security law and other laws relating
to establishing police and fire retirement  provisions,  is  amended  to
read as follows:
  S 8. (A) Notwithstanding any provision of law to the contrary, nothing
in  this  act  shall  limit the eligibility of any member of an employee
organization to join a special retirement plan open to him or her pursu-
ant to a collectively negotiated  agreement  with  any  state  or  local
government  employer, where such agreement is in effect on the effective
date of this act and so long as such agreement remains in effect  there-
after; provided, however, that any such eligibility shall not apply upon
termination  of  such  agreement  for employees otherwise subject to the
provisions of article twenty-two of the retirement and  social  security
law.
  (B)  NOTWITHSTANDING  ANY  OTHER PROVISION OF LAW TO THE CONTRARY, ANY
MEMBER OF THE NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM
WHO BECAME A MEMBER ON OR AFTER JULY 1, 2009 AND BEFORE JANUARY 10, 2010
MAY ELECT TO BE COVERED BY THE PROVISIONS OF ARTICLE TWENTY-TWO  OF  THE
RETIREMENT  AND SOCIAL SECURITY LAW. SUCH MEMBER SHALL ALSO BE PERMITTED
TO ELECT ANY SPECIAL RETIREMENT PLAN THAT WOULD HAVE BEEN  AVAILABLE  TO
SUCH  MEMBER  HAD  SUCH MEMBER BEEN COVERED BY THE PROVISIONS OF ARTICLE
TWENTY-TWO OF THE RETIREMENT AND SOCIAL SECURITY LAW ON OR AFTER JULY 1,
2009 AND BEFORE JANUARY 10, 2010.
  S 2. Any member wishing to be covered by the provisions of subdivision
(b) of section 8 of part A of chapter 504 of the laws of 2009 must  file

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

                                                           LBD14508-02-6

S. 7174                             2

an  election  to  be covered by article twenty-two of the retirement and
social security law no later than  one  hundred  eighty  days  from  the
effective date of this act on a form provided by the state comptroller.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill  would  amend  Chapter  504 of the Laws of 2009 to allow an
individual who became a member of the New York State  and  Local  Police
and  Fire  Retirement  System (PFRS) on or after July 1, 2009 and before
January 10, 2010 to elect to be covered by the provisions of Article  22
of  the  Retirement  and  Social Security Law. Such member would also be
allowed to elect to become covered by any  plan  that  would  have  been
available  to  such member had such member been covered under Article 22
on or after July 1, 2009 and before January 10,  2010.  Any  member  who
becomes  covered  under  a  non-contributory  plan  would  no  longer be
required to make member contributions, and would receive a refund of any
member contributions.
  If this bill is enacted, there would be a cost to refund  past  member
contributions to any member who becomes covered under a non-contributory
plan.  There are approximately 80 members who would be eligible to elect
the provisions of Article 22, but the exact number of those members  who
would  become  covered  under  non-contributory  plans cannot be readily
determined. If half of this group becomes non-contributory,  there  will
be  an  annual cost of approximately $70,000 which will be shared by the
State of New York and all the participating employers in  the  New  York
State and Local Police and Fire Retirement System.
  The  enactment of this legislation would not result in any other costs
to the State of New York or the participating employers in the PFRS.
  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 March 11, 2016, and intended for use only  during
the  2016  Legislative  Session, is Fiscal Note No. 2016-79, prepared by
the Actuary for the New York State and Local Retirement System.

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

                                 7174--A

                            I N  S E N A T E

                              April 5, 2016
                               ___________

Introduced  by  Sen.  GOLDEN -- 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 to amend chapter 504 of the laws of 2009 amending the retirement
  and social security law and other laws relating to establishing police
  and fire retirement provisions,  in  relation  to  persons  joining  a
  public  retirement  system on or after July 1, 2009 and before January
  10, 2010

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  8  of  part A of chapter 504 of the laws of 2009
amending the retirement and social security law and other laws  relating
to  establishing  police  and  fire retirement provisions, is amended to
read as follows:
  S 8. (A) Notwithstanding any provision of law to the contrary, nothing
in this act shall limit the eligibility of any  member  of  an  employee
organization to join a special retirement plan open to him or her pursu-
ant  to  a  collectively  negotiated  agreement  with any state or local
government employer, where such agreement is in effect on the  effective
date  of this act and so long as such agreement remains in effect there-
after; provided, however, that any such eligibility shall not apply upon
termination of such agreement for employees  otherwise  subject  to  the
provisions  of  article twenty-two of the retirement and social security
law.
  (B) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO  THE  CONTRARY,  ANY
MEMBER OF THE NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM
WHO BECAME A MEMBER ON OR AFTER JULY 1, 2009 AND BEFORE JANUARY 10, 2010
MAY  ELECT  TO BE COVERED BY THE PROVISIONS OF ARTICLE TWENTY-TWO OF THE
RETIREMENT AND SOCIAL SECURITY LAW. SUCH MEMBER SHALL ALSO BE  PERMITTED
TO  ELECT  ANY SPECIAL RETIREMENT PLAN THAT WOULD HAVE BEEN AVAILABLE TO
SUCH MEMBER HAD SUCH MEMBER BEEN COVERED BY THE  PROVISIONS  OF  ARTICLE
TWENTY-TWO OF THE RETIREMENT AND SOCIAL SECURITY LAW ON OR AFTER JULY 1,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14508-04-6
              

S. 7174--A                          2

2009  AND  BEFORE  JANUARY  10,  2010.  NO MEMBER CONTRIBUTIONS SHALL BE
REFUNDED.
  S 2.  This act shall take effect immediately.
  FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
  This  bill  would  amend  Chapter  504 of the Laws of 2009 to allow an
individual who became a member of the New York State  and  local  Police
and  Fire  Retirement  System (PFRS) on or after July 1, 2009 and before
January 10, 2010 to elect to be covered by the provisions of Article  22
of  the  Retirement  and  Social Security Law. Such member would also be
allowed to elect to become covered by any  plan  that  would  have  been
available  to  such member had such member been covered under Article 22
on or after July 1, 2009 and before January 10,  2010.  Any  member  who
become covered under a non-contributory plan would no longer be required
to make member contributions.
  If  this  bill is enacted, there would not be any cost to the State of
New York and the participating employers in the New York State and Local
Police and Fire Retirement System.
  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 May 13, 2016, and intended for  use  only  during
the  2016  Legislative Session, is Fiscal Note No. 2016-100, prepared by
the Actuary for the New York State and Local Retirement System.