NY State Assembly Bill 2021-A8072A

Assembly Bill A8072A

2021-2022 Legislative Session

Grants retroactive retirement membership in the New York state teachers' retirement system to Eileen Saumell

download bill text pdf

Archive: Last Bill Status - In Assembly Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 31, 2022	print number 8072a
May 31, 2022	amend and recommit to governmental employees
Jan 05, 2022	referred to governmental employees
Jun 11, 2021	referred to governmental employees

Bill Amendments

Original

A (Active)

2021-A8072 - Details

See Senate Version of this Bill:: S7289
Current Committee:: Assembly Governmental Employees
Law Section:: Retirement
Versions Introduced in Other Legislative Sessions:: 2019-2020: A9612, S7541
2023-2024: A5110, S5290

2021-A8072 - Summary

Grants retroactive retirement membership in the New York state teachers' retirement system to Eileen Saumell.

2021-A8072 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8072
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 11, 2021
                                ___________
 
 Introduced by M. of A. GANDOLFO -- read once and referred to the Commit-
   tee on Governmental Employees
 
 AN  ACT granting retroactive retirement membership in the New York state
   teachers' retirement system to Eileen Saumell
 
   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, Eileen Saumell
 who is currently working at the  West  Babylon  school  district  and  a
 member  of  the  New  York  state  teachers'  retirement system, who was
 employed as a full-time employee  of  the  Nassau  County  Demonstration
 Project,  a  non-participating  employer  of  the  New York state public
 retirement systems, with a start date of August 8, 1994 until August 27,
 2004, and at that time a member of the United  Jewish  Appeal-Federation
 of  Jewish  Philanthropies  of New York, Inc. Retirement Plan, could not
 become a member of one of the New York state public  retirement  systems
 on August 8, 1994, shall be granted service credit in the New York state
 teachers'  retirement  system  for her employment with the Nassau County
 Demonstration Project for the period of August 8, 1994 until August  27,
 2004,  provided  that  an  application  is filed with the New York state
 teachers' retirement system within one year from the effective  date  of
 this act.
   §  2.  No contributions made to the United Jewish Appeal-Federation of
 Jewish Philanthropies of  New  York,  Inc.  Retirement  Plan  by  Eileen
 Saumell shall be returned or refunded to her pursuant to this act.
   § 3. All past service costs associated with the implementation of this
 act shall be borne by Nassau County.
   § 4. This act shall take effect immediately.
   FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
   This  bill  (legislative  bill  draft  10816-01-1)  would allow Eileen
 Saumell, an active member of the New  York  State  Teachers'  Retirement
 System  with  Tier  4  status,  to receive service credit for the period

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD10816-02-1

 A. 8072                             2
 
 August 8, 1994 until August 27, 2004 while she  was  employed  with  the
 Nassau County Demonstration Project, a non-participating employer of the
 New  York  State public retirement systems. During Ms. Saumell's employ-
 ment  with  the Nassau County Demonstration Project, she was a member of
 the United Jewish Appeal-Federation  of  Jewish  Philanthropies  of  New
 York,  Inc.  Retirement Plan and could not become a member of one of the
 New York State public retirement  systems.  Contributions  made  to  the
 United  Jewish  Appeal-Federation  of Jewish Philanthropies of New York,
 Inc. Retirement Plan by Ms. Saumell shall not be returned or refunded to
 her pursuant to this bill. Ms. Saumell must file a written request  with
 the  head  of  the New York State Teachers' Retirement System within one
 year of the effective date of this bill.
   The cost of this benefit is equal to the increase in the present value
 of liabilities, which is estimated to be $360,000. This  cost  would  be
 borne  by  the county of Nassau. Granting service credit under this bill
 for employment with an organization that may potentially be considered a
 non-governmental or  private  employer  could  jeopardize  the  System's
 governmental plan status and its exemption from ERISA which could result
 in the loss of qualified status. Loss of qualified status would mean the
 loss  of  tax  benefits.    This  result  would substantially impair the
 System's value to our approximately four hundred and  thirty-four  thou-
 sand  members.  In  addition,  precluding a return or refund of contrib-
 utions under her prior plan may create a conflict  under  the  terms  of
 that plan.
   Member  data  is  from  the  System's  most recent actuarial valuation
 files, consisting of data provided by the employers  to  the  Retirement
 System.   Data distributions and statistics can be found in the System's
 Annual Report. System assets are as reported in the  System's  financial
 statements and can also be found in the System's Annual Report.  Actuar-
 ial assumptions and methods are provided in the System's Actuarial Valu-
 ation Report.
   The  source of this estimate is Fiscal Note 2021-48 dated June 3, 2021
 prepared by the Actuary of  the  New  York  State  Teachers'  Retirement
 System and is intended for use only during the 2021 Legislative Session.
 I,  Richard  A.  Young,  am the Actuary for the New York State Teachers'
 Retirement System. I am a member of the American  Academy  of  Actuaries
 and  I meet the Qualification Standards of the American Academy of Actu-
 aries to render the actuarial opinion contained herein.

2021-A8072A (ACTIVE) - Details

See Senate Version of this Bill:: S7289
Current Committee:: Assembly Governmental Employees
Law Section:: Retirement
Versions Introduced in Other Legislative Sessions:: 2019-2020: A9612, S7541
2023-2024: A5110, S5290

2021-A8072A (ACTIVE) - Summary

Grants retroactive retirement membership in the New York state teachers' retirement system to Eileen Saumell.

2021-A8072A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8072--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 11, 2021
                                ___________
 
 Introduced by M. of A. GANDOLFO -- read once and referred to the Commit-
   tee  on  Governmental  Employees  --  recommitted  to the Committee on
   Governmental Employees in accordance with Assembly Rule 3, sec.  2  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee

 AN ACT granting retroactive retirement membership in the New York  state
   teachers' retirement system to Eileen Saumell
 
   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, Eileen  Saumell
 who  is  currently  working  at  the  West Babylon school district and a
 member of the New  York  state  teachers'  retirement  system,  who  was
 employed  as  a  full-time  employee  of the Nassau County Demonstration
 Project, a non-participating employer  of  the  New  York  state  public
 retirement systems, with a start date of August 8, 1994 until August 27,
 2004,  and  at that time a member of the United Jewish Appeal-Federation
 of Jewish Philanthropies of New York, Inc. Retirement  Plan,  could  not
 become  a  member of one of the New York state public retirement systems
 on August 8, 1994, shall be granted service credit in the New York state
 teachers' retirement system for her employment with  the  Nassau  County
 Demonstration  Project for the period of August 8, 1994 until August 27,
 2004, provided that an application is filed  with  the  New  York  state
 teachers'  retirement  system within one year from the effective date of
 this act.
   § 2. Eileen Saumell shall not be entitled to receive any pension bene-
 fits otherwise due to her by  the  United  Jewish  Appeal-Federation  of
 Jewish Philanthropies of New York, Inc. Retirement Plan, and no contrib-
 utions made to the United Jewish Appeal-Federation of Jewish Philanthro-
 pies  of  New  York,  Inc.  Retirement  Plan  by Eileen Saumell shall be
 returned or refunded to her pursuant to this act.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10816-03-2
 A. 8072--A                          2

 
   § 3. All past service costs associated with the implementation of this
 act shall be borne by Nassau County.
   § 4. This act shall take effect immediately.
   FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
   This bill would allow Eileen Saumell, an active member of the New York
 State Teachers' Retirement System with Tier 4 status, to receive service
 credit for the period August 8, 1994 until August 27, 2004 while she was
 employed with the Nassau County Demonstration Project, a non-participat-
 ing employer of the New York State public retirement systems. During Ms.
 Saumell's  employment  with the Nassau County Demonstration Project, she
 was a member of the United Jewish Appeal-Federation  of  Jewish  Philan-
 thropies of New York, Inc. Retirement Plan and could not become a member
 of  one  of  the New York State public retirement systems. Contributions
 made to the United Jewish Appeal-Federation of Jewish Philanthropies  of
 New  York,  Inc. Retirement Plan by Ms. Saumell shall not be returned or
 refunded to her pursuant to this bill. Ms. Saumell must file  a  written
 request  with the head of the New York State TeachersÆ Retirement System
 within one year of the effective date of this bill.
   The cost of this benefit is equal to the increase in the present value
 of liabilities, which is estimated to be $400,000. This  cost  would  be
 borne  by  the  county of Nassau. Granting service credit for employment
 with an organization that may potentially be considered a non-governmen-
 tal or private employer could jeopardize the System's governmental  plan
 status  and  its  exemption from ERISA which could result in the loss of
 tax-qualified status.
   Member data is from  the  System's  most  recent  actuarial  valuation
 files,  consisting  of  data provided by the employers to the Retirement
 System.  Data distributions and statistics can be found in the  System's
 Annual  Report.  System assets are as reported in the System's financial
 statements and can also be found in the System's Annual Report. Actuari-
 al assumptions and methods are provided in the System's Actuarial  Valu-
 ation Report and the 2021 Actuarial Assumptions Report.
   The  source of this estimate is Fiscal Note 2022-44 dated May 27, 2022
 prepared by the Office of the Actuary of the New  York  State  Teachers'
 Retirement  System and is intended for use only during the 2022 Legisla-
 tive Session. I, Richard A. Young, am the Chief Actuary for the New York
 State Teachers' Retirement System. I am a member of the American Academy
 of Actuaries and I meet the  Qualification  Standards  of  the  American
 Academy of Actuaries to render the actuarial opinion contained herein.

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