S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6343--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 5, 2023
                                ___________
 
 Introduced by M. of A. PHEFFER AMATO, SILLITTI -- read once and referred
   to  the  Committee  on  Governmental  Employees  -- recommitted to the
   Committee on Governmental Employees in accordance with  Assembly  Rule
   3,  sec. 2 -- 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
   retirement  benefits  for  certain  employees;  and  providing for the
   repeal of such provisions upon expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision c of section 700 of the retirement and social
 security law, as added by chapter 578 of the laws of 1989, is amended to
 read as follows:
   c. Such election shall be in writing, shall be duly executed and filed
 with the comptroller and, SUBJECT TO THE PROVISIONS OF SUBDIVISION D  OF
 THIS  SECTION, shall be irrevocable as long as such member is in a title
 defined in subdivision i of section eighty-nine  of  this  chapter.  The
 election  shall  be  filed  on or before December thirty-first, nineteen
 hundred eighty-nine  or  within  one  year  after  such  person  becomes
 employed in such title, whichever date is later.
   §  2. Section 700 of the retirement and social security law is amended
 by adding a new subdivision d to read as follows:
   D. NOTWITHSTANDING ANY PROVISION OF LAW  TO  THE  CONTRARY,  A  MEMBER
 EMPLOYED  BY  THE  OFFICE OF MENTAL HEALTH HOLDING THE TITLE OF SECURITY
 HOSPITAL TREATMENT ASSISTANT, SENIOR SECURITY HOSPITAL TREATMENT ASSIST-
 ANT, SECURITY HOSPITAL TREATMENT ASSISTANT  SPANISH  LANGUAGE,  SECURITY
 HOSPITAL  SENIOR TREATMENT ASSISTANT SPANISH LANGUAGE, SECURITY HOSPITAL
 TREATMENT ASSISTANT SUPERVISOR OR SECURITY HOSPITAL TREATMENT  ASSISTANT
 CHIEF,  SHALL BE ENTITLED TO FILE AN ELECTION, SUBJECT TO THE PROVISIONS
 OF ARTICLE FOURTEEN OR ARTICLE FIFTEEN OF THIS CHAPTER, IN ITS ENTIRETY,
 AND SHALL BE SUBJECT TO NONE  OF  THE  PROVISIONS  OF  THE  ARTICLE  NOT
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08427-03-4
              

 A. 6343--A                          2
 
 SELECTED BY THE MEMBER. SUCH ELECTION SHALL BE IN WRITING, SHALL BE DULY
 EXECUTED AND FILED WITH THE COMPTROLLER AND SHALL BE IRREVOCABLE.
   §  3.  This  act shall take effect on the thirtieth day after it shall
 have become a law and shall expire and be deemed  repealed  on  the  one
 hundred eightieth day after it shall have become a law.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would permit members of the New York State and Local Employ-
 ees'  Retirement  System employed as security hospital treatment assist-
 ants by the Office of  Mental  Health  a  one-time  election  to  choose
 between  coverage  under  an  Age-55 plan or a 25-year service plan. Any
 such election will be irrevocable and the member will forfeit all rights
 and privileges of their current plan.  Currently,  members  so  employed
 must  elect  plan coverage within one year from their employment in such
 title.  This bill has a sunset provision of 180 days.
   If this bill is enacted during the 2024 Legislative Session, we antic-
 ipate that there will be an increase of approximately  $2.4  million  in
 the  annual  contributions  of the State of New York for the fiscal year
 ending March 31, 2025. In future  years  this  cost  will  vary  but  is
 expected to average 2.7% of salary annually.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $22.1 million 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.
   These estimated costs are based on 689 affected  members  employed  by
 the  Office  of  Mental  Health  with annual salary of approximately $79
 million as of March 31, 2023.
   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  January  26,  2024,  and intended for use only
 during the  2024  Legislative  Session,  is  Fiscal  Note  No.  2024-40,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.