S T A T E O F N E W Y O R K
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9517
I N A S S E M B L Y
March 16, 2022
___________
Introduced by M. of A. JONES -- read once and referred to the Committee
on Governmental Employees
AN ACT to authorize Nicholas Moore, Joshua Golden and Nathan Kasprzak to
receive certain service credit under section 384-d of the retirement
and social security law
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 to the contrary,
the city of Plattsburgh, a participating employer in the New York state
local police and fire retirement system, is hereby authorized to make
participation in the 384-d special twenty year retirement plan pursuant
to section 384-d of the retirement and social security law available to
Nicholas Moore, a police officer employed with the Plattsburgh Police
Department with a start date of February 21, 2014, who, for reasons not
ascribable to his own negligence, was enrolled in the special twenty-
five year retirement plan contained within section 384 of the retirement
and social security law. Officer Moore shall be given full credit in the
special twenty year plan contained within section 384-d of the retire-
ment and social security law for such service upon election of the city
of Plattsburgh to assume the additional cost of such service.
§ 2. Notwithstanding any other provision of law to the contrary, the
city of Plattsburgh, a participating employer in the New York state
local police and fire retirement system, is hereby authorized to make
participation in the 384-d special twenty year retirement plan pursuant
to section 384-d of the retirement and social security law available to
Joshua Golden, a police officer employed with the Plattsburgh Police
Department with a start date of February 21, 2014, who, for reasons not
ascribable to his own negligence, was enrolled in the special twenty-
five year retirement plan contained within section 384 of the retirement
and social security law. Officer Golden shall be given full credit in
the special twenty year plan contained within section 384-d of the
retirement and social security law for such service upon election of the
city of Plattsburgh to assume the additional cost of such service.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14926-02-2
A. 9517 2
§ 3. Notwithstanding any other provision of law to the contrary, the
city of Plattsburgh, a participating employer in the New York state
local police and fire retirement system, is hereby authorized to make
participation in the 384-d special twenty year retirement plan pursuant
to section 384-d of the retirement and social security law available to
Nathan Kasprzak, a police officer employed with the Plattsburgh Police
Department with a start date of February 28, 2014, who, for reasons not
ascribable to his own negligence, was enrolled in the special twenty-
five year retirement plan contained within section 384 of the retirement
and social security law. Officer Kasprzak shall be given full credit in
the special twenty year plan contained within section 384-d of the
retirement and social security law for such service upon election of the
city of Plattsburgh to assume the additional cost of such service.
§ 4. The city of Plattsburgh may so elect by filing with the state
comptroller within 180 days of the effective date of this act, a resol-
ution of its legislative body, together with certification that such
police officers did not bar themselves from participation in such
retirement plan as a result of their own negligence. Thereafter, such
officers may elect to be covered by the provisions of section 384-d of
the retirement and social security law, and shall be entitled to full
rights and benefits associated with the coverage under such section, by
filing a request to this effect with the state comptroller within one
year of the effective date of this act.
§ 5. All past service costs associated with implementing the
provisions of this act shall be borne by the city of Plattsburgh and may
be amortized over a period of five years.
§ 6. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would allow the City of Plattsburgh to reopen the provisions
of Section 384-d of the Retirement and Social Security Law for police
officers Nicholas Moore, Joshua Golden and Nathan Kasprzak.
If this bill is enacted during the 2022 legislative session, we antic-
ipate that there will be an increase of approximately $9,700 in the
annual contributions of the City of Plattsburgh for the fiscal year
ending March 31, 2023. In future years, this cost will vary as the bill-
ing rates and salary of Nicholas Moore, Joshua Golden and Nathan Kaspr-
zak change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $69,400 which will be
borne by the City of Plattsburgh as a one-time payment. This estimate is
based on the assumption that payment will be made on February 1, 2023.
If the City of Plattsburgh elects to amortize this cost over a 5-year
period, the cost for the first year including interest would be $15,500.
Summary of relevant resources:
Membership data as of March 31, 2021 was used in measuring the impact
of the proposed change, the same data used in the April 1, 2021 actuari-
al valuation. Distributions and other statistics can be found in the
2021 Report of the Actuary and the 2021 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2020
and 2021 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, 2021
New York State and Local Retirement System Financial Statements and
Supplementary Information.
A. 9517 3
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 March 7, 2022, and intended for use only during
the 2022 Legislative Session, is Fiscal Note No. 2022-102, prepared by
the Actuary for the New York State and Local Retirement System.