Assembly Bill A11241

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   11241
 
                           I N  A S S E M B L Y
 
                                May 1, 2026
                                ___________
 
 Introduced  by  M.  of  A.  P. CARROLL  -- read once and referred to the
   Committee on Governmental Employees
 
 AN ACT in relation to authorizing George Orfanoudakis to receive certain
   retroactive membership in 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 to the contrary,
 George  Orfanoudakis, currently a member of the New York state and local
 police and fire retirement system, who was employed by the  North  Rock-
 land  Central  School  District  on  June  25, 2005 who, for reasons not
 ascribable to his own negligence, failed to become a member of  the  New
 York  state and local employees' retirement system during his employment
 with the North Rockland Central School District, shall be deemed to have
 joined the New York state and local police and fire retirement system on
 the date June 25, 2005 and shall be  granted  Tier  II  status  in  such
 retirement system, if within one year of the effective date of this act,
 he  shall  file  a  written  request  with the state comptroller to such
 effect. Upon the granting of such retroactive membership,  George  Orfa-
 noudakis  shall  not  be  granted a refund of any employee contributions
 made by him to the New York state and local police and  fire  retirement
 system.
   § 2. All past service costs associated with the implementation of this
 act shall be borne by the state of New York.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  grant Tier 2 status in the New York State and Local
 Police and Fire Retirement System to George Orfanoudakis, a current Tier
 5 member employed by the Division of State  Police,  by  changing  their
 date of membership to June 25, 2005.
   There will be no refund of member contributions.
   We  estimate  that  the  state of New York's annual contributions will
 increase $12,000 beginning FYE 2027. Annual costs will vary as the bill-
 ing rates and salary of George Orfanoudakis change.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD15339-03-6
 A. 11241                            2
 
   In addition, there will be an immediate  past  service  cost  of  $300
 borne  by the state of New York as a one-time payment. This cost assumes
 that payment will be made on March 1, 2027.
   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 April 24, 2026, and intended for use only during
 the 2026 Legislative Session, is Fiscal Note Number 2026-172 REVISED. 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.