S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2944
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 18, 2017
                                ___________
 
 Introduced  by  Sen.  BOYLE  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT to authorize Patricia Gill-Davanzo Tier IV status in the New York
   state and local employees' retirement system
 
   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, Patricia Gill-
 Davanzo, a member of the New York State and Local Employees'  Retirement
 System  (NYSERS) with Tier V status, who was employed by the North Baby-
 lon Union Free School District on June 16, 1993 and who for reasons  not
 ascribable  to  her own negligence was not offered membership in the New
 York State and Local Employees' Retirement System on June 16, 1993 as  a
 Tier IV member, shall, upon application filed with the state comptroller
 on or before December 31, 2017, be reclassified as a Tier IV member with
 June  16,  1993 as her date of membership and shall be entitled to every
 right, benefit and privilege which would have been available to  her  in
 accordance with Tier IV status.
   §  2. No contributions made to the New York state and local employees'
 retirement system by Patricia Gill-Davanzo shall be returned or refunded
 to her pursuant to this act.
   § 3. All past service costs associated with the implementation of this
 act shall be borne by the North Babylon Union Free School District.
   § 4. 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 Patricia Gill-Davanzo, a current Tier 5
 member employed by the North Babylon  Union  Free  School  District,  by
 changing  her  date  of  membership  to  June 16, 1993. There will be no
 refund of member contributions.
   If this legislation is enacted during the 2017 legislative session, we
 anticipate that there will be an increase of approximately $1,700 in the

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

                                                            LBD05500-02-7

 S. 2944                             2
 
 annual contributions of the North Babylon Union Free School District for
 the fiscal year ending March 31, 2018. In future years, this  cost  will
 vary as the billing rates and salary of Patricia Gill-Davanzo change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service cost of approximately $17,800 which will be
 borne by the North  Babylon  Union  Free  School  District  as  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 January 12, 2017 and intended for use only during
 the 2017 Legislative Session, is Fiscal Note No. 2017-8, prepared by the
 Actuary for the New York State and Local Retirement System.