S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6620
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 10, 2017
                                ___________
 
 Introduced  by M. of A. LALOR -- read once and referred to the Committee
   on Governmental Employees
 
 AN ACT granting retroactive tier II membership in the New York state and
   local employees' retirement system to Todd Mikus
 
   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, Todd Mikus, who
 is  a  member  of  the  New  York  state and local employees' retirement
 system, and who was employed by the Poughkeepsie School District for the
 period beginning February 1, 1976 and ending in July 1976, and  who  for
 reasons  not ascribable to his own negligence did not become a member of
 the New York state and local employees' retirement system at the time of
 his hiring and who is currently a Tier IV member of the New  York  state
 and  local employees' retirement system shall be deemed to have become a
 member of the New York state and local employees' retirement  system  as
 of  February  1,  1976 entitling him to Tier II 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.
   § 2. Any past service costs incurred in implementing the provisions of
 this act shall be borne by Dutchess County.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--This bill will grant Tier 2 status in the New York State
 and Local Employees' Retirement System to Todd Mikus, a current  Tier  4
 member  employed by the Dutchess County, by changing his date of member-
 ship to February 1, 1976. This bill will also provide a refund of member
 contributions.
   If this legislation is enacted during the 2017 legislative session, we
 anticipate that there will be an increase of approximately $5,900 in the
 annual contributions of Dutchess County for the fiscal year ending March
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09685-02-7
              

 A. 6620                             2
 
 31, 2018. In future years, this cost will vary as the billing rates  and
 salaries of Todd Mikus change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past service cost of approximately $102,000 which will be
 borne by Dutchess County as a one-time payment. This estimate  is  based
 on the assumption that payment will be made on February 1, 2018.
   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, 2016  actuarial  valu-
 ation.    Distributions  and  other  statistics can be found in the 2016
 Report of the  Actuary  and  the  2016  Comprehensive  Annual  Financial
 Report.
   The  actuarial  assumptions and methods used are described in the 2015
 and 2016 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, 2016
 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 3, 2017, and intended for use only during
 the 2017 Legislative Session, is Fiscal Note No.  2017-70,  prepared  by
 the Actuary for the New York State and Local Retirement System.