Senate Bill S5711A

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

                                 5711--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 29, 2015
                               ___________

Introduced  by  Sen. MARTINS -- 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  in  relation to granting Eric Zausner tier IV 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, Eric Zausner,
who is a member of the New York state and  local  employees'  retirement
system  having  tier V status, and who, is employed by Nassau county and
has been so employed since January 20,  2011,  and  who,  prior  to  his
current employment, was employed by the Nassau county board of elections
on  a  continuous part-time basis for the period beginning June 25, 2003
and ending July 6, 2005, 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 on June 25, 2003, shall be deemed  to  have
been a member of such retirement system on June 25, 2003, having tier IV
status  with  every  right,  benefit and privilege which would have been
available to him on such date, 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. No contributions made to the New York state and local employees'
retirement system by Eric Zausner shall be returned or refunded  to  him
pursuant to this act.
  S 3. All past service costs associated with the implementation of this
act shall be borne by the county of Nassau.
  S 4. 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.
                                                           LBD10980-09-6
              

S. 5711--A                          2

  This  bill  will  grant  Tier 4 status in the New York State and Local
Employees' Retirement System to Eric Zausner, a current  Tier  5  member
employed  by  Nassau  County, by changing his date of membership to June
25, 2003. There will be no refund of member contributions.
  If this legislation is enacted during the 2016 legislative session, we
anticipate that there will be an increase of approximately $2,380 in the
annual  contributions  of Nassau County for the fiscal year ending March
31, 2017. In future years, this cost will vary as the billing rates  and
salary of Eric Zausner change.
  In addition to the annual contributions discussed above, there will be
an  immediate  past  service cost of approximately $13,200 which will be
borne by Nassau County 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 4, 2016 and intended for use only during
the  2016  Legislative  Session, is Fiscal Note No. 2016-58, prepared by
the Actuary for the New York State and Local Retirement System.