Senate Bill S4251A

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

                                 4251--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             March 11, 2015
                               ___________

Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions
  -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
  accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN ACT to authorize Chester S. Kasprzyk to apply for retroactive member-
  ship  and  service  credit  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, Chester S.
Kasprzyk, a retired member of the New York state  and  local  employees'
retirement  system  employed  by the county of Erie, who was employed by
the sewer department of the town of Cheektowaga from  July  1,  1975  to
1978,  and who, for reasons not ascribable to his own negligence, failed
to become a member of the New York state and local employees' retirement
system while so employed by the town of Cheektowaga, shall be deemed  to
have joined the New York state and local employees' retirement system on
July  1,  1975  and receive service credit in such retirement system for
such employment by the town of Cheektowaga, if on or before December 31,
2016 he shall file an application therefor with the  state  comptroller.
Upon  the  receipt  of  such application, Chester S.   Kasprzyk shall be
granted Tier II status in  the  New  York  state  and  local  employees'
retirement system and be eligible for all the rights and benefits there-
of.
  S  2. No contributions made to the New York state and local employees'
retirement system by Chester S. Kasprzyk shall be returned to him pursu-
ant to this act.
  S 3. All past service costs of implementing the provisions of this act
shall be borne by the town of Cheektowaga.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03238-04-6
              

S. 4251--A                          2

  S 4. This act shall take effect immediately.
  FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
  This  bill  will deem Chester S. Kasprzyk, a retiree formerly employed
by Erie County and a Tier 3 member of  the  New  York  State  and  Local
Employees'  Retirement  System,  to  have  first  become a member of the
Retirement System on July 1, 1975, thereby granting him Tier  2  status.
There will be no refund of Tier 3 member contributions.
  If this bill is enacted, we anticipate that there will be an immediate
past  service  cost of approximately $87,000 which would be borne by the
town of Cheektowaga as a one-time payment. This estimate is based on the
assumption that payment will be made on February 1, 2017.
  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 February 10, 2016,  and  intended  for  use  only
during  the  2016  Legislative  Session,  is  Fiscal  Note  No. 2016-54,
prepared by the Actuary for the New  York  State  and  Local  Retirement
System.