S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7792
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 21, 2021
                                ___________
 
 Introduced by M. of A. STIRPE -- read once and referred to the Committee
   on Governmental Employees
 
 AN ACT in relation to granting Michael Aregano additional service credit
   with the New York state and local police and fire 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, Michael  Arega-
 no, currently a police officer with the Town of Cicero Police department
 and  member  of  the New York state and local police and fire retirement
 system covered under section 384-d of the retirement and social security
 law, who for the period beginning July 29, 2000 and ending  on  December
 22,  2000,  was  employed  as a police officer by the Town of Cicero and
 enrolled in the Black River/St. Lawrence Valley Law Enforcement Training
 Academy, and who, for reasons not ascribable to his own negligence,  was
 not  granted service credit for his period of training, shall be granted
 such service credit under section 384-d of  the  retirement  and  social
 security law, if on or before the thirty-first of December next succeed-
 ing  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 Town of Cicero.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
   This bill would grant  service  credit  under  section  384-d  of  the
 Retirement  and  Social Security Law to Michael Aregano, a member of the
 New York State and Local Police and Fire Retirement System  employed  by
 the  Town of Cicero, for the period of July 29, 2000 through December 22
 2000, during which he was  enrolled  in  the  Black  River/St.  Lawrence
 Valley Law Enforcement Training Academy ("the academy"). Officer Aregano
 was  not  compensated for the training he received at the academy during
 the time at which he was enrolled. Thus this bill would not be  consist-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD11374-04-1

 A. 7792                             2
 
 ent  with  New York State and Local Retirement System policy of granting
 service credit only when a salary has been paid.
   If  this  bill  is  enacted during the 2021 legislative session, there
 will be an immediate past service cost of  approximately  $24,300  which
 will  be  borne by the Town of Cicero as a one-time payment.  This esti-
 mate is based on the assumption that payment will be made on February 1,
 2022.
   There will be no increase in the annual contributions of the  Town  of
 Cicero.
   Summary of relevant resources:
   Membership  data as of March 31, 2020 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2020 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2020  Report  of the Actuary and the 2020 Comprehensive Annual Financial
 Report.
   The actuarial assumptions and methods used are described in  the  2020
 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, 2020
 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 18, 2021, and intended for  use  only  during
 the  2021  Legislative Session, is Fiscal Note No. 2021-144, prepared by
 the Actuary for the New York State and Local Retirement System.