S T A T E   O F   N E W   Y O R K
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                                  7919--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 19, 2017
                                ___________
 
 Introduced by M. of A. McDONALD -- read once and referred to the Commit-
   tee  on  Governmental Employees -- committee discharged, bill amended,
   ordered reprinted as amended and recommitted to said committee
 
 AN ACT granting retroactive membership with tier IV status  in  the  New
   York state and local employees' retirement system to Jessica Strizzi

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Notwithstanding any other  law  to  the  contrary,  Jessica
 Strizzi,  a member of the New York state and local employees' retirement
 system, who is currently employed by  the  office  of  the  state  comp-
 troller, and who was previously employed on June 28, 2007 by the village
 of  Green  Island  as a recreational assistant, and who filed membership
 applications in such system on June 28, 2007 which should have given her
 Tier IV status but for reasons not ascribable to her own negligence  and
 due to an administrative error, the application was not processed in the
 usual  manner  and  therefore  not  processed  until July 9, 2012 may be
 deemed to have become a member of the New York state and  local  employ-
 ees'  retirement  system  on June 28, 2007, if on or before December 31,
 2017 she shall file an application therefor with the state  comptroller.
 Upon  the  receipt of such application, Jessica Strizzi shall be granted
 Tier IV status in the New York state  and  local  employees'  retirement
 system  and  be  eligible  for  all  the rights and benefits thereof. No
 contributions made to the New York state and local employees' retirement
 system by Jessica Strizzi shall be returned to her pursuant to this act.
   § 2. Any past service costs incurred in implementing the provisions of
 this act shall be borne by the village of Green Island.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill will allow Jessica Strizzi, an  employee  of  the  New  York
 State  Office  of  the  State  Comptroller  and a former employee of the
 Village of Green Island, to receive a retroactive date of membership  in
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD11758-05-7

 A. 7919--A                          2
 
 the  New  York  State  and  Local  Employees' Retirement System, thereby
 making her a Tier 4 member.
   If  this bill is enacted, we anticipate that there will be an increase
 of approximately $2,900 in annual contributions of the State of New York
 for the fiscal year ending March 31, 2018. In future  years,  this  cost
 will vary as her billing rate and salary change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service cost of approximately $5,390 which would be
 borne by the Village of Green Island as a one-time payment.  This  esti-
 mate 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  May 25, 2017, and intended for use only during
 the 2017 Legislative Session, is Fiscal Note No. 2017-110,  prepared  by
 the Actuary for the New York State and Local Retirement System.