Senate Bill S4272

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4272
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 3, 2021
                                ___________
 
 Introduced by Sens. GALLIVAN, KENNEDY -- read twice and ordered printed,
   and when printed to be committed to the Committee on Civil Service and
   Pensions
 
 AN  ACT  to  authorize  Kevin  Gleason  to  receive certain 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, Kevin Gleason,
 currently a town of Hamburg police officer and member of  the  New  York
 state  and  local  police  and fire retirement system covered by section
 384-d of the retirement and social security law, who  between  July  27,
 1998  and  February  28,  2004 was employed by the Erie county sheriff's
 department where he was a member of the New York state and local employ-
 ees' retirement system, and who, for reasons not ascribable to  his  own
 negligence,  was  not  granted service credit under section 384-d of the
 retirement and social security law for his period of employment with the
 Erie county sheriff's department, shall be granted such  service  credit
 under  section 384-d of the retirement and social security law and shall
 be entitled to the full rights and  benefits  associated  with  coverage
 under  such section, provided a request to that effect is filed with the
 state comptroller within one year from the effective date of this act.
   § 2. All past service costs incurred in implementing the provisions of
 this act shall be borne by the town of Hamburg.
   § 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 Kevin Gleason, a current member of
 the  New  York State and Local Police and Fire Retirement System (PFRS),
 for the period of July 27, 1998 through February 28, 2004, during  which
 time  the  officer  was  employed  as  a  deputy sheriff in Erie County.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04173-02-1
              

 S. 4272                             2
 
 Currently, deputy sheriff service is not creditable  in  a  PFRS  twenty
 year police retirement plan.
   If  this  bill  is  enacted during the 2021 legislative session, there
 will be an immediate past service cost of approximately  $166,000  which
 will  be  borne by the Town of Hamburg 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
 Hamburg.
   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 January 20,  2021,  and  intended  for  use  only
 during  the  2021  Legislative  Session,  is  Fiscal  Note  No. 2021-47,
 prepared by the Actuary for the New  York  State  and  Local  Retirement
 System.