Senate Bill S7165

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7165
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 3, 2018
                                ___________
 
 Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT in relation to granting Sean O'Brien  additional  service  credit
   with 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,  Sean  O'Brien,
 currently  a detective with the St. Lawrence County Sheriff's Office and
 member of the New York state  and  local  employees'  retirement  system
 covered  by  section  552 of the retirement and social security law, who
 for the period beginning January 16, 2003 and ending on  May  23,  2003,
 was  employed as a police officer by the Village of Massena and enrolled
 in the Basic Course for Police Officers at the State University  of  New
 York  College of Technology at Canton, and who, for reasons not ascriba-
 ble to his own negligence, was not granted service credit for his period
 of training, shall be granted such service credit under section  552  of
 the retirement and social security law, if on or before the thirty-first
 of  December  next  succeeding  the effective date of this act, he shall
 file a written request to that effect with the state comptroller.
   § 2. All past service costs incurred in implementing the provisions of
 this act shall be borne by the village of Massena.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill will allow detective Sean O'Brien to receive service  credit
 in  the  New York State and Local Employees' Retirement System (ERS) for
 unpaid police officer training for the Village  of  Massena  during  the
 period  January  16,  2003  through  May  23, 2003. Detective O'Brien is
 currently a Tier 4 ERS member employed by the St. Lawrence County  Sher-
 iff's Office and covered by the provisions of Section 552 of the Retire-
 ment and Social Security Law. Under current law, salary must be paid for
 rendered  service  to be credited. Further, credit for paid police cadet
 service is available for purchase under certain New York State and Local
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD13885-02-7

 S. 7165                             2
 
 Police and Fire Retirement System (PFRS) plans only (and no  ERS  plans)
 and must be paid by the member.
   If  this  bill  is  enacted,  there is no change in anticipated future
 annual costs as the member continues to be covered by Section 552. There
 will be an immediate past service cost of $12,900 to  be  borne  by  the
 Village  of  Massena  as a one-time payment. This cost assumes a payment
 date of 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 December 15, 2017,  and  intended  for  use  only
 during  the  2018  Legislative  Session,  is  Fiscal  Note  No. 2018-22,
 prepared by the Actuary for the New  York  State  and  Local  Retirement
 System.