Senate Bill S6536

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6536
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                May 5, 2021
                                ___________
 
 Introduced  by  Sen.  STEC  --  read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT in relation to granting Barbara Juh Tier 5 status in the New York
   state and local employees' 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, Barbara Juh,
 who is a member of the New York state and  local  employees'  retirement
 system,  with  Tier 6 status, and who was employed part-time as a regis-
 tered nurse at the  Adirondack  Correctional  Facility  for  the  period
 beginning  September  16, 2010 and ending December 16, 2012, and who has
 been employed full-time by the department of corrections  and  community
 supervision since December 17, 2012 and continues to be employed by such
 department,  and  who, for reasons not ascribable to her own negligence,
 failed to become a member of the New York  state  and  local  employees'
 retirement  system on September 16, 2010, shall be deemed to have been a
 member of such retirement system with Tier 5 status on and after Septem-
 ber 16, 2010, if on or before 6 months after the effective date of  this
 act,  she  shall  file  a  written request to that effect with the state
 comptroller.  Upon the granting of such retroactive membership,  Barbara
 Juh  shall not be granted a refund of any employee contributions made by
 her to the New York state and local employees' retirement system.
   § 2. Any past service costs incurred in implementing the provisions of
 this act shall be borne by the state of New York.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would grant Tier 5 status in the New York  State  and  Local
 Employees'  Retirement  System  to  Barbara Juh, a current Tier 6 member
 employed by the New York State Department of Corrections  and  Community
 Supervision,  by  changing her date of membership to September 16, 2010.
 There will be no refund of member contributions.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD10749-03-1

 S. 6536                             2
 
   If this bill is enacted during the 2021 legislative session, we antic-
 ipate that there will be an increase  of  approximately  $4,100  in  the
 annual contributions of the State of New York for the fiscal year ending
 March  31,  2022.  In  future  years, this cost will vary as the billing
 rates and salary of Barbara Juh change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service  cost of approximately $9,190 which will be
 borne by the State of New York as a one-time payment.  This estimate  is
 based on the assumption that payment will be made on March 1, 2022.
   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 April 20, 2021, and intended for use only  during
 the  2021  Legislative Session, is Fiscal Note No. 2021-125, prepared by
 the Actuary for the New York State and Local Retirement System.