Assembly Bill A10373

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10373
 
                           I N  A S S E M B L Y
 
                               March 3, 2026
                                ___________
 
 Introduced  by M. of A. SIMPSON -- read once and referred to the Commit-
   tee on Governmental Employees
 
 AN ACT in relation to authorizing the  county  of  Warren  to  offer  an
   optional twenty-year retirement plan to Bradley Murphy, a patrol offi-
   cer employed by such county
 
   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,
 the county of Warren, a participating employer in the New York state and
 local employees' retirement system,  which  has  elected  to  offer  the
 optional  twenty  year  retirement plan, established pursuant to article
 14-B of the retirement and  social  security  law,  to  patrol  officers
 employed  by  such county, is hereby authorized to make participation in
 such plan available to Bradley Murphy, a patrol officer employed by  the
 county of Warren with a start date of September 1, 2019, who, through no
 fault of his own, was not enrolled to participate in such optional twen-
 ty  year  plan  contained  in  article 14-B of the retirement and social
 security law. The county of Warren may so elect by filing with the state
 comptroller, on or before 180 days after this act shall  have  become  a
 law, a resolution of its governing body together with certification that
 such  patrol  officer  did  not  bar  themself from participation in the
 retirement plan as a result of their own  negligence.  Thereafter,  such
 patrol officer may individually elect to be covered by the provisions of
 sections  552 and 553 of the retirement and social security law, and the
 retirement system shall credit service from September 1, 2019 to present
 under sections 552 and 553 of the retirement and  social  security  law.
 Such  member  may  effectuate  by filing an election with the retirement
 system within one year of the effective date of this act.
   § 2. All employer past service costs associated with implementing  the
 provisions of this act shall be borne by the county of Warren and may be
 amortized over a five-year period.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14436-02-6
              

 A. 10373                            2
 
   This  bill would allow Warren county to elect to reopen the provisions
 of section 552 together with section 553 of the  retirement  and  social
 security law (RSSL) for patrol officer Bradley Murphy.
   We  estimate  that  Warren county's annual contributions will increase
 $12,000 beginning FYE 2027. Annual costs will vary as the billing  rates
 and salary of Bradley Murphy change.
   In  addition, there will be an immediate past service cost of $108,000
 borne by Warren county as a one-time payment.  This  cost  assumes  that
 payment  will  be  made  on February 1, 2027. If Warren county elects to
 amortize this cost over 5 years, the cost for each year will be $24,200.
   Summary of relevant resources:
   Membership data as of March 31, 2025 was used to measure the impact of
 the bill, the same data used in the Actuarial Valuations dated April  1,
 2025. Distributions and other statistics can be found in the 2025 Report
 of  the  Actuary and the 2025 Annual Comprehensive Financial Report. The
 actuarial assumptions and methods used are described in the 2025  Annual
 Report to the Comptroller on Actuarial Assumptions, and the Codes, Rules
 and  Regulations  of  the State of New York: Audit and Control. The fair
 value of assets and GASB disclosures can be found in the 2025  Financial
 Statements and Supplementary Information.
   Assumptions,  demographics,  and  other  considerations  may have been
 modified to better reflect specific provisions of any  proposed  benefit
 change(s).
   This  fiscal note does not constitute a legal opinion on the viability
 of the bill, nor is it intended to serve as a substitute for the profes-
 sional judgment of an attorney.
   This estimate, dated February 4,  2026,  and  intended  for  use  only
 during  the  2026 Legislative Session, is Fiscal Note Number 2026-83. As
 Chief Actuary  of  the  New  York  State  and  Local  Retirement  System
 (NYSLRS),  I,  Aaron  Schottin  Young, hereby certify that this analysis
 complies with applicable Actuarial Standards of Practice as well as  the
 Code  of  Professional Conduct and Qualification Standards for Actuaries
 Issuing Statements of Actuarial Opinion of the American Academy of Actu-
 aries, of which I am a member. I am  a  member  of  NYSLRS  but  do  not
 believe it impairs my objectivity.