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

                                10369--A

                          I N  A S S E M B L Y

                              May 24, 2016
                               ___________

Introduced  by  M.  of A. ABBATE, GOLDFEDER -- read once and referred to
  the Committee on Governmental Employees -- reported  and  referred  to
  the  Committee  on  Ways  and  Means  --  reported and referred to the
  Committee on  Rules  --  Rules  Committee  discharged,  bill  amended,
  ordered reprinted as amended and recommitted to the Committee on Rules

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 A RETIREMENT SYSTEM WITHIN NEW YORK STATE WHO BECAME A MEMBER
OF SUCH SYSTEM ON OR AFTER JULY 1, 2009 AND BEFORE JANUARY 10, 2010  AND
SUBSEQUENTLY  BECOME A MEMBER OF THE NEW YORK STATE AND LOCAL POLICE AND
FIRE RETIREMENT SYSTEM AND THEREAFTER TRANSFERRED HIS OR HER  MEMBERSHIP
IN  THE  FIRST  RETIREMENT SYSTEM TO THE NEW YORK STATE AND LOCAL POLICE
AND FIRE RETIREMENT SYSTEM MAY ELECT TO BE COVERED BY THE PROVISIONS  OF
ARTICLE  TWENTY-TWO  OF THE RETIREMENT AND SOCIAL SECURITY LAW EFFECTIVE

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

                                                           LBD14508-08-6

A. 10369--A                         2

ON THE DATE OF MEMBERSHIP IN THE FIRST RETIREMENT  SYSTEM.  SUCH  MEMBER
SHALL  ALSO  BE PERMITTED TO ELECT ANY SPECIAL RETIREMENT PLAN AVAILABLE
TO HIM OR HER. ANY CONTRIBUTIONS FOR PREVIOUS PENSION BENEFITS SHALL NOT
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 a public retirement system on or after
July 1, 2009 and before January 10, 2010 and who transferred  membership
into  the  New  York  State  and Local Police and Fire Retirement System
(PFRS) 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.
  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 June 7, 2016, and intended for  use  only  during
the  2016  Legislative Session, is Fiscal Note No. 2016-112, prepared by
the Actuary for the New York State and Local Retirement System.