S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6383
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 16, 2021
                                ___________
 
 Introduced  by M. of A. BURKE -- read once and referred to the Committee
   on Governmental Employees
 
 AN ACT to authorize Jason M. Schiedel 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 to the contrary,
 Jason M. Schiedel, a 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 February 1, 1995 and
 ending February 28, 2003, was intermittently employed as a police  offi-
 cer  with the village of Gowanda, 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 such period of employment
 with the village of Gowanda, 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  as  well  as  section  384-e of such law, provided that 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 village of Gowanda.
   § 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  Jason  M.  Schiedel,  a  current
 member of the New York State and Local Police and Fire Retirement System
 (PFRS),  for  the  period beginning February 1, 1995 and ending February
 28, 2003, during which he was intermittently employed as a police  offi-
 cer with the Village of Gowanda.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04215-02-1
              

 A. 6383                             2
 
   If  this  bill  is  enacted during the 2021 legislative session, there
 will be an immediate past service cost of  approximately  $77,100  which
 will  be  borne  by  the  Village of Gowanda as a one-time payment. This
 estimate is based on the assumption that payment will be made on  Febru-
 ary 1, 2022.
   There  will  be no increase in the annual contributions of the Village
 of Gowanda.
   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  29,  2021,  and intended for use only
 during the  2021  Legislative  Session,  is  Fiscal  Note  No.  2021-37,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.