S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7593
 
                             I N  S E N A T E
 
                             January 29, 2020
                                ___________
 
 Introduced  by  Sen. HELMING -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT granting retroactive membership in the New York state  and  local
   employees' retirement system to Rachael Bowman
 
   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, Rachael Bowman,
 an employee of the New York state department of  parks,  recreation  and
 historic  preservation  and  a  member  of  the New York state and local
 employees' retirement system, who was employed as  a  seasonal  employee
 for  Taughannock  Falls  State  Park,  beginning  on April 30, 2009, who
 through no fault of her own, failed to become a member of  such  retire-
 ment  system  during  such employment by Taughannock Falls State Park in
 2009, shall be deemed to have  joined  the  New  York  state  and  local
 employees'  retirement  system  on  the date April 30, 2009 and shall be
 granted Tier IV status in such retirement system, if, within one year of
 the effective date of this act, she shall file a  written  request  with
 the state comptroller.
   §  2. No contributions made to the New York state and local employees'
 retirement system by Rachael Bowman shall be returned or refunded to her
 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 will grant Tier 4 status in the New  York  State  and  Local
 Employees'  Retirement System to Rachael Bowman, a current Tier 5 member
 employed by the New York  State  Department  of  Parks,  Recreation  and
 Historic  Preservation,  by changing her date of membership to April 30,
 2009. There will be no refund of member contributions.
   If this bill is enacted during the 2020 legislative session, we antic-
 ipate that there will be an increase  of  approximately  $1,500  in  the
 annual contributions of the State of New York for the fiscal year ending
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD14045-02-9

 S. 7593                             2
 
 March 31, 2021. In future years, this cost will vary as the billing rate
 and salary of Rachael Bowman change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service cost of approximately $12,300 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  November  15,  2019, and intended for use only
 during the  2020  Legislative  Session,  is  Fiscal  Note  No.  2020-13,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.