Assembly Bill A10493

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10493
 
                           I N  A S S E M B L Y
 
                               May 29, 2024
                                ___________
 
 Introduced  by  COMMITTEE  ON RULES -- (at request of M. of A. Jones) --
   read once and referred to the Committee on Governmental Employees
 
 AN ACT granting retroactive membership with Tier II status  in  the  New
   York  state  and  local  police  and  fire  retirement system to Ethan
   Czyzewski
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Notwithstanding  any  other  law  to  the contrary, Ethan
 Czyzewski, an employee of the state police and a member of the New  York
 state  and  local police and fire retirement system, who for reasons not
 ascribable to his own negligence, failed to become a member  of  one  of
 the  state  of  New York's retirement systems during his employment with
 the Galway Central School District on June 26, 2006, shall be deemed  to
 have  joined  the  New  York  state and local police and fire retirement
 system during 2006 and shall be granted Tier II status in  such  retire-
 ment  system,  if, within one year of the effective date of this act, he
 shall file a written request with the state comptroller.
   § 2. No contribution made to any retirement system by Ethan  Czyzewski
 shall be returned or refunded to him pursuant to this act.
   §  3.  All  service  costs  of implementing the provisions of this act
 shall be borne by the state of New York.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would provide Ethan Czyzewski with a date of  membership  of
 June  26,  2006,  their date of first employment with the Galway Central
 School District, resulting in Tier 2 status in the New  York  State  and
 Local  Police and Fire Retirement System. Ethan Czyzewski is currently a
 Tier 6 member.  There will be no refund of member contributions.
   If this bill is enacted during the 2024 Legislative Session, we antic-
 ipate that there will be an increase of  approximately  $16,000  in  the
 annual contributions of the Division of State Police for the fiscal year
 ending  March 31, 2025. In future years this cost will vary as the bill-
 ing rates and salary of Ethan Czyzewski change.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14796-03-4
              

 A. 10493                            2
 
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $10,100  which  will  be
 borne  by  the  State  of  New York as a one-time payment. This estimate
 assumes that payment will be made on March 1, 2025.
   Summary of relevant resources:
   Membership  data as of March 31, 2023 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2023 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2023  Report  of the Actuary and the 2023 Annual Comprehensive Financial
 Report.
   The actuarial assumptions and methods used are described in  the  2023
 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, 2023
 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 15, 2024, and intended for  use  only  during
 the  2024  Legislative Session, is Fiscal Note No. 2024-146, prepared by
 the Actuary for the New York State and Local Retirement System.