S T A T E O F N E W Y O R K
________________________________________________________________________
S. 5758--A A. 7498--A
2017-2018 Regular Sessions
S E N A T E - A S S E M B L Y
April 28, 2017
___________
IN SENATE -- Introduced by Sen. FLANAGAN -- 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 committee
IN ASSEMBLY -- Introduced by M. of A. RAIA -- read once and referred to
the Committee on Governmental Employees -- recommitted to the Commit-
tee on Governmental Employees in accordance with Assembly Rule 3, sec.
2 -- committee discharged, bill amended, ordered reprinted as amended
and recommitted to said committee
AN ACT granting retroactive tier IV membership in the New York state and
local employees' retirement system to Rebecca Leonard
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, Rebecca
Leonard, formerly Rebecca Abensur, a member of the New York state and
local employees' retirement system, who was employed in November 2007,
by Half Hollow Hills Central School District, who did not file a member-
ship application in such system until 2010, which gave her Tier V status
instead of Tier IV status, where she would have been had she filed a
membership application when she became a permanent employee in November
2007 may be deemed to have become a member of the New York state and
local employees' retirement system in November 2007 if, within one year
of the effective date of this act, she shall file with the state comp-
troller a written request to that effect. Upon the granting of such
retroactive membership, Rebecca Leonard shall not be granted a refund of
any employee contribution made by her to the New York state and local
employees' retirement system.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10875-06-8
S. 5758--A 2 A. 7498--A
§ 2. All past service costs associated with the implementation of this
act shall be borne by the county of Nassau.
§ 3. This act shall take effect immediately.
FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
This bill will grant Tier 4 status in the New York State and Local
Employees' Retirement System to Rebecca Leonard, a current Tier 5 member
employed by Nassau County, by changing her date of membership to Novem-
ber 2007, her first date of employment with the Half Hollow Hills
Central School District. There will be no refund of member contrib-
utions.
If this legislation is enacted during the 2018 legislative session, we
anticipate that there will be an increase of approximately $2,500 in the
annual contributions of Nassau County and an increase of approximately
$40 in the annual contributions of Half Hollow Hills Central School
District for the fiscal year ending March 31, 2019. In future years,
these costs will vary as the billing rates and salary of Rebecca Leonard
change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $10,300 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, 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 February 2, 2018, and intended for use only
during the 2018 Legislative Session, is Fiscal Note No. 2018-44,
prepared by the Actuary for the New York State and Local Retirement
System.