S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8276
 
                             I N  S E N A T E
 
                              April 26, 2018
                                ___________
 
 Introduced  by  Sen.  GRIFFO -- 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 Scott Goodfellow
 
   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, Scott Goodfel-
 low, a member of the New York  state  and  local  employees'  retirement
 system,  who  was  employed  on  December 28, 2009, by the county of St.
 Lawrence department of corrections, and who filed membership application
 in such system on December 28, 2009, which should have given him Tier IV
 status but for reasons not ascribable to his own negligence and  due  to
 an  administrative error, the application was not processed in the usual
 manner and therefore not processed until January 4, 2010, may be  deemed
 to  have  become  a  member  of  the New York state and local employees'
 retirement system on December 28, 2009, if within one year from the date
 this act shall have become a law he shall file an  application  therefor
 with the state comptroller.  Upon the receipt of such application, Scott
 Goodfellow  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 Scott Goodfellow shall be returned
 to him pursuant to this act.
   § 2. Any past service costs incurred in implementing the provisions of
 this act shall be borne by the county of St. Lawrence.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill will grant retroactive Tier 4 status in the New  York  State
 and Local Employees' Retirement System to Scott R. Goodfellow, a current
 Tier  5 member employed by the NYS Power Authority, by changing his date
 of membership to December 28, 2009, his first date  of  employment  with
 the  county of St.  Lawrence department of corrections. There will be no
 refund of member contributions.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD02564-03-8

 S. 8276                             2
 
   If this bill is enacted during the  2018  legislative  session,  there
 will  be an increase of approximately $2,300 in the annual contributions
 of the NYS Power Authority for the fiscal year ending March 31, 2019. In
 future years, this cost will vary as the billing rates and  salaries  of
 Scott R. Goodfellow change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service  cost of approximately $2,850 which will be
 borne by the county of St.  Lawrence as a one-time payment.  This  esti-
 mate 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 April 23, 2018, and intended for use only during
 the 2018 Legislative Session, is Fiscal No.  2018-87,  prepared  by  the
 Actuary for the New York State and Local Retirement System.