S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10492
 
                           I N  A S S E M B L Y
 
                              April 30, 2018
                                ___________
 
 Introduced  by  M. of A. STEC -- read once and referred to the Committee
   on Governmental Employees
 
 AN ACT to authorize Jaime Laczko to elect to participate in the optional
   twenty-five year retirement plan for forest rangers in the service  of
   the department of environmental conservation
 
   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, Jaime Laczko, a
 member of the New York  state  and  local  police  and  fire  retirement
 system,  who is employed by the department of environmental conservation
 as a full-time forest ranger I,  who  upon  commencing  such  employment
 became  a  member of such retirement system subject to the provisions of
 section 375-h of the retirement and social security law, who was  eligi-
 ble,  at such time, to elect to join the New York state and local police
 and fire retirement system subject  to  the  optional  twenty-five  year
 retirement  plan  for forest rangers in the service of the department of
 environmental conservation pursuant to section 383-c of  the  retirement
 and  social security law, and who, for reasons not ascribable to his own
 negligence, failed to elect to  participate  in  such  twenty-five  year
 retirement  plan,  shall be deemed to have elected to participate in the
 retirement plan, established by section  383-c  of  the  retirement  and
 social  security  law,  upon  commencement of his employment as a forest
 ranger I, if, within 1 year of the effective date of this act, he  shall
 file an application therefor with the state comptroller.
   §  2.  All  past  costs associated with implementing the provisions of
 this act shall be borne by the state of New  York.  Jaime  Laczko  shall
 bear  no  costs  associated with the implementation of the provisions of
 this act.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill will deem Jaime Laczko, a Forest  Ranger  currently  covered
 under  an  age 55 retirement plan, to have elected to participate in the
 25 year retirement plan established by Section 383-c of  the  Retirement
 and Social Security Law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD15492-02-8

 A. 10492                            2
 
   If this bill is enacted during the 2018 legislative session, we antic-
 ipate  that  there  will  be  an increase of approximately $3,900 in the
 annual contributions of the State of New York for the fiscal year ending
 March 31, 2019. In future years, this cost  will  vary  as  the  billing
 rates and salary of Jaime Laczko change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past service cost of $102,000 which would be borne by the
 State of New York as one-time payment.  This estimate is  based  on  the
 assumption that payment will be made on March 1, 2019.
   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, 2017  actuarial  valu-
 ation.    Distributions  and  other  statistics can be found in the 2017
 Report of the  Actuary  and  the  2017  Comprehensive  Annual  Financial
 Report.
   The  actuarial assumptions and methods used are described in the 2015,
 2016, and 2017 Annual Report to the  Comptroller  on  Actuarial  Assump-
 tions,  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, 2017
 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 April 25, 2018, and intended for use only during
 the 2018 Legislative Session, is Fiscal Note No.  2018-93,  prepared  by
 the Actuary for the New York State and Local Retirement System.