S T A T E O F N E W Y O R K
________________________________________________________________________
5109--D
2021-2022 Regular Sessions
I N S E N A T E
February 23, 2021
___________
Introduced by Sen. BROOKS -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
-- committee discharged, bill amended, ordered reprinted as amended
and recommitted to said committee -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee -- committee discharged, bill amended, ordered reprinted as
amended and recommitted to said committee -- recommitted to the
Committee on Civil Service and Pensions in accordance with Senate Rule
6, sec. 8 -- committee discharged, bill amended, ordered reprinted as
amended and recommitted to said committee
AN ACT to amend the retirement and social security law, in relation to
authorizing certain persons in an optional twenty year retirement plan
for state university police officer service, regional state park
police and special investigators for the office of the attorney gener-
al
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 384-e of the retirement and social security law is
amended by adding three new subdivisions d, e and f to read as follows:
D. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, UPON
COMPLETION OF TWENTY YEARS OF SERVICE, AND UPON RETIREMENT, EACH SUCH
MEMBER WHO WAS PREVIOUSLY CREDITED WITH SERVICE CREDIT IN THE NEW YORK
STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM OR THE NEW YORK STATE AND
LOCAL POLICE AND FIRE RETIREMENT SYSTEM AS AN OFFICER APPOINTED BY THE
STATE UNIVERSITY PURSUANT TO PARAGRAPH L OF SUBDIVISION TWO OF SECTION
THREE HUNDRED FIFTY-FIVE OF THE EDUCATION LAW AND WHO HAS SUCCESSFULLY
COMPLETED A COURSE OF LAW ENFORCEMENT TRAINING AS PROVIDED IN SUCH
SECTION OF THE EDUCATION LAW MAY RECEIVE FOR EACH SUCH YEAR OF PREVIOUS
SERVICE, UP TO A TOTAL OF NO GREATER THAN FIVE YEARS OF PREVIOUS
SERVICE, ADDITIONAL PENSION EQUAL TO ONE-SIXTIETH OF HIS OR HER FINAL
AVERAGE SALARY.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03597-17-2
S. 5109--D 2
TO OBTAIN SUCH CREDIT A MEMBER SHALL PAY SUCH RETIREMENT SYSTEM, FOR
DEPOSIT IN THE FUND USED TO ACCUMULATE EMPLOYER CONTRIBUTIONS, A SUM
EQUAL TO THE PRODUCT OF THE NUMBER OF YEARS OF SERVICE BEING CLAIMED
AND THREE PERCENT OF SUCH MEMBER'S COMPENSATION EARNED DURING THE TWELVE
MONTHS OF CREDITED SERVICE IMMEDIATELY PRECEDING THE DATE THAT THE
MEMBER MADE APPLICATION FOR CREDIT PURSUANT TO THIS SECTION.
E. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, UPON
COMPLETION OF TWENTY YEARS OF SERVICE, AND UPON RETIREMENT, EACH SUCH
MEMBER WHO WAS PREVIOUSLY CREDITED WITH SERVICE CREDIT IN THE NEW YORK
STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM OR THE NEW YORK STATE AND
LOCAL POLICE AND FIRE RETIREMENT SYSTEM AS AN OFFICER OR MEMBER OF THE
REGIONAL STATE PARK POLICE DEPARTMENT MAY RECEIVE FOR EACH SUCH YEAR OF
PREVIOUS SERVICE, UP TO A TOTAL OF NO GREATER THAN FIVE YEARS OF PREVI-
OUS SERVICE, ADDITIONAL PENSION EQUAL TO ONE-SIXTIETH OF HIS OR HER
FINAL AVERAGE SALARY.
TO OBTAIN SUCH CREDIT A MEMBER SHALL PAY SUCH RETIREMENT SYSTEM, FOR
DEPOSIT IN THE FUND USED TO ACCUMULATE EMPLOYER CONTRIBUTIONS, A SUM
EQUAL TO THE PRODUCT OF THE NUMBER OF YEARS OF SERVICE BEING CLAIMED
AND THREE PERCENT OF SUCH MEMBER'S COMPENSATION EARNED DURING THE TWELVE
MONTHS OF CREDITED SERVICE IMMEDIATELY PRECEDING THE DATE THAT THE
MEMBER MADE APPLICATION FOR CREDIT PURSUANT TO THIS SECTION.
F. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, UPON
COMPLETION OF TWENTY YEARS OF SERVICE, AND UPON RETIREMENT, EACH SUCH
MEMBER WHO WAS PREVIOUSLY CREDITED WITH SERVICE CREDIT IN THE NEW YORK
STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM AS A SPECIAL INVESTIGATOR
EMPLOYED IN THE OFFICE OF THE ATTORNEY GENERAL MAY RECEIVE FOR EACH
SUCH YEAR OF PREVIOUS SERVICE, UP TO A TOTAL OF NO GREATER THAN FIVE
YEARS OF PREVIOUS SERVICE, ADDITIONAL PENSION EQUAL TO ONE-SIXTIETH OF
HIS OR HER FINAL AVERAGE SALARY.
TO OBTAIN SUCH CREDIT A MEMBER SHALL PAY SUCH RETIREMENT SYSTEM, FOR
DEPOSIT IN THE FUND USED TO ACCUMULATE EMPLOYER CONTRIBUTIONS, A SUM
EQUAL TO THE PRODUCT OF THE NUMBER OF YEARS OF SERVICE BEING CLAIMED
AND THREE PERCENT OF SUCH MEMBER'S COMPENSATION EARNED DURING THE TWELVE
MONTHS OF CREDITED SERVICE IMMEDIATELY PRECEDING THE DATE THAT THE
MEMBER MADE APPLICATION FOR CREDIT PURSUANT TO THIS SECTION.
§ 2. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would allow up to 5 years of previous service credit
rendered as a SUNY Police officer or as a Regional State Park Police
officer or as a special investigator in the office of the attorney
general to become creditable service under Section 384-e of the Retire-
ment and Social Security Law. Upon completion of 20 years of service
credit and upon retirement, an affected member would receive an addi-
tional pension of one sixtieth of final average salary for each such
additional year credited. The member would be required to contribute an
amount equal to 3% of the prior 12 months of compensation for each year
of service credit claimed.
If this bill is enacted during the 2022 legislative session, we esti-
mate that there will be a past service cost averaging 13.7% of affected
members' compensation for each year of additional service credit granted
by this bill. All costs would be shared by the State of New York and the
participating employers in the New York State and Local Police and Fire
Retirement System.
The exact number of current members as well as future members who
could be affected by this legislation cannot be readily determined.
Summary of relevant resources:
S. 5109--D 3
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.
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 2, 2022, and intended for use only during the
2022 Legislative Session, is Fiscal Note No. 2022-131, prepared by the
Actuary for the New York State and Local Retirement System.