S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7022
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 24, 2021
                                ___________
 
 Introduced  by  Sen.  MAY  --  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 Michael Aregano additional service credit
   with the New York state and local police and fire 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, Michael Arega-
 no, currently a police officer with the Town of Cicero Police department
 and member of the New York state and local police  and  fire  retirement
 system covered under section 384-d of the retirement and social security
 law,  who  for the period beginning July 29, 2000 and ending on December
 22, 2000, was employed as a police officer by the  Town  of  Cicero  and
 enrolled in the Black River/St. Lawrence Valley Law Enforcement Training
 Academy,  and who, for reasons not ascribable to his own negligence, was
 not granted service credit for his period of training, shall be  granted
 such  service  credit  under  section 384-d of the retirement and social
 security law, if on or before the thirty-first of December next succeed-
 ing the effective date of this act, he shall file a written  request  to
 that effect with the state comptroller.
   § 2. All past service costs incurred in implementing the provisions of
 this act shall be borne by the Town of Cicero.
   § 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 Michael Aregano, a member  of  the
 New  York  State and Local Police and Fire Retirement System employed by
 the Town of Cicero, for the period of July 29, 2000 through December  22
 2000,  during  which  he  was  enrolled  in the Black River/St. Lawrence
 Valley Law Enforcement Training Academy ("the academy"). Officer Aregano
 was not compensated for the training he received at the  academy  during
 the  time at which he was enrolled. Thus this bill would not be consist-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD11374-04-1

 S. 7022                             2
 
 ent with New York State and Local Retirement System policy  of  granting
 service credit only when a salary has been paid.
   If  this  bill  is  enacted during the 2021 legislative session, there
 will be an immediate past service cost of  approximately  $24,300  which
 will  be  borne by the Town of Cicero 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
 Cicero.
   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 May 18, 2021, and intended for  use  only  during
 the  2021  Legislative Session, is Fiscal Note No. 2021-144, prepared by
 the Actuary for the New York State and Local Retirement System.