Assembly Bill A8787A

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8787--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 25, 2019
                                ___________
 
 Introduced by M. of A. BYRNES -- read once and referred to the Committee
   on  Governmental  Employees -- recommitted to the Committee on Govern-
   mental Employees in accordance with Assembly Rule 3, sec. 2 -- commit-
   tee discharged, bill amended, ordered reprinted as amended and  recom-
   mitted to said committee

 AN  ACT  granting retroactive membership in the New York state and local
   employees' retirement system to Shawn Coveny
 
   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, Shawn Cove-
 ny, an employee of the New York  State  Department  of  Corrections  and
 Community  Supervision  and  a  member  of  the New York state and local
 employees' retirement system, who was employed as a New York state  park
 aide  for  Letchworth State Park as a seasonal employee in the summer of
 2008, who for reasons not ascribable to his own  negligence,  failed  to
 become  a  member  of  such  retirement system during such employment by
 Letchworth State Park in 2008, shall be deemed to have  joined  the  New
 York  state  and  local employees' retirement system on the date May 31,
 2008 if, within one year of the effective date of  this  act,  he  shall
 file a written request with the state comptroller.
   §  2. No contributions made to the New York state and local employees'
 retirement system by Shawn Coveny shall be returned or refunded  to  him
 pursuant to this act.
   § 3. All past service costs of implementing the provisions of this act
 shall be borne by the state of New York.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  change  the  date of membership for Shawn Coveny, a
 current Tier 6 member in the New York State and Local Employees' Retire-
 ment System employed by the New York State Department of Corrections and
 Community Supervision, to May 31, 2008, his  first  date  of  employment
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD13116-05-0

 A. 8787--A                          2
 
 with  Letchworth  State Park. There will be no refund of member contrib-
 utions.
   If  this  bill  is  enacted during the 2020 legislative session, there
 will be an increase of approximately $4,800 in the annual  contributions
 of  the  State of New York for the fiscal year ending March 31, 2021. In
 future years, this cost will vary as the billing  rates  and  salary  of
 Shawn Coveny change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service  cost of approximately $4,170 which will be
 borne by the State of New York as a one-time payment. This  estimate  is
 based on the assumption that payment will be made on March 1, 2021.
   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, 2019  actuarial  valu-
 ation.    Distributions  and  other  statistics can be found in the 2019
 Report of the  Actuary  and  the  2019  Comprehensive  Annual  Financial
 Report.
   The  actuarial assumptions and methods used are described in the 2015,
 2016, 2017, 2018, and 2019 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, 2019
 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 fiscal note does not constitute a legal opinion on the  viability
 of  the  proposed change nor is it intended to serve as a substitute for
 the professional judgment of an attorney.
   This estimate, dated May 27, 2020, and intended for  use  only  during
 the  2020  Legislative Session, is Fiscal Note No. 2020-115, prepared by
 the Actuary for the New York State and Local Retirement System.