Senate Bill S6130A

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6130
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 11, 2017
                                ___________
 
 Introduced  by Sens. AMEDORE, TEDISCO -- read twice and ordered printed,
   and when printed to be committed to the Committee on Civil Service and
   Pensions
 
 AN ACT granting retroactive tier IV membership in the New York state and
   local employees' retirement system to Christopher M. Allen

   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, Christopher M.
 Allen, a member of the New York state and local retirement  system,  who
 was  employed  by  the  capital  region board of cooperative educational
 services in March 2008, for reasons not ascribed to his own  negligence,
 did not file a membership application in such system until October 2013,
 which  gave him Tier VI status instead of Tier IV status, where he would
 have been able to file a membership application when he became a  perma-
 nent employee in March 2008 may be deemed to have become a member of the
 New  York  state and local employees' retirement system in March 2008 if
 on or before December 31, 2017 he shall file with the state  comptroller
 a  written request to that effect. Upon the granting of such retroactive
 membership, Christopher M. Allen shall not be granted a  refund  of  any
 employee  contribution  made  by  him  to  the  New York state and local
 employees' retirement system.
   § 2. Any past service costs incurred in implementing the provisions of
 this act shall be borne by  the  capital  region  board  of  cooperative
 educational services.
   § 3. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11664-01-7



              

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6130--B
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 11, 2017
                                ___________
 
 Introduced  by Sens. AMEDORE, TEDISCO -- read twice and ordered printed,
   and when printed to be committed to the Committee on Civil Service and
   Pensions -- committee discharged, bill amended, ordered  reprinted  as
   amended  and  recommitted  to  said  committee  --  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
 
 AN  ACT  to  authorize the granting of retroactive tier IV membership in
   the New York state and local employees' retirement system to  Christo-
   pher M. Allen
 
   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, Christopher  M.
 Allen,  a  member  of the New York state and local employees' retirement
 system, who began employment with the capital region  board  of  cooper-
 ative  educational  services  in  March  2008,  and  who for reasons not
 ascribed to his own negligence, did not file a membership application in
 such system until October 2013, which gave him Tier VI status instead of
 Tier IV status, where he would have  been  able  to  file  a  membership
 application  when  he  became  a permanent employee in March 2008 may be
 deemed to have become a member of the New York state and  local  employ-
 ees'  retirement  system in March 2008 if on or before December 31, 2018
 he shall file with the state  comptroller  a  written  request  to  that
 effect. Upon the granting of such retroactive membership, Christopher M.
 Allen shall not be granted a refund of any employee contribution made by
 him to the New York state and local employees' retirement system.
   § 2. Any past service costs incurred in implementing the provisions of
 this  act  shall  be  borne  by  the capital region board of cooperative
 educational services.
   § 3. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11664-04-8
              

 S. 6130--B                          2
 
   FISCAL NOTE.-- This bill will grant Tier 4  status  in  the  New  York
 State and Local Employees' Retirement System to Christopher M. Allen, by
 changing  his  date  of membership to be in March, 2008, the date he was
 employed  by  the  capital  region  board  of  cooperative   educational
 services.  He  currently is a Tier 6 member employed by the state of New
 York as a unified court peace officer.
   If this legislation is enacted during the 2018 legislative session, we
 anticipate that there will be an increase of approximately $4,300 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 salaries of Christopher M. Allen change.
   In addition to the annual contributions discussed above, there will be
 a one-time past service cost of $19,200 which will be borne by the capi-
 tal  region  board  of  cooperative  educational  services 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:
   If membership data used in measuring the impact of the proposed change
 was  the  same  as  that used in the March 31, 2017 actuarial valuation.
 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  December  15,  2017, and intended for use only
 during the  2018  Legislative  Session,  is  Fiscal  Note  No.  2018-23,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.