Assembly Bill A5441

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5441
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 14, 2025
                                ___________
 
 Introduced by M. of A. ANGELINO -- read once and referred to the Commit-
   tee on Governmental Employees
 
 AN ACT to authorize the granting of retirement service credit in the New
   York  state  and local police and fire retirement system to Michael V.
   Layman for service as a university police officer

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Notwithstanding any inconsistent provision of law, Michael
 V.  Layman a retiree of the New York state and  local  police  and  fire
 retirement  system who was employed as a Zone Sergeant until his retire-
 ment on November 29, 2020, and who was a member of the  New  York  state
 and  local  employees'  retirement system while employed as a university
 police officer by the State University of New York at Cortland the State
 University of New York at Delhi, and the State University of New York at
 Oneonta from May 26, 1988 until March 30, 1992,  which  service  is  not
 deemed to be police service for purposes of the New York state and local
 police  and  fire  retirement  system  pursuant  to section 381-b of the
 retirement and social security law, shall be granted retirement  service
 credit  pursuant  to section 381-b of the retirement and social security
 law for such employment as a university  police  officer  at  the  State
 University  of New York at Cortland, the State University of New York at
 Delhi, and the State University of  New  York  at  Oneonta  as  if  such
 service  was  rendered  with  the  division of state police prior to his
 retirement and have his retirement benefit recalculated as  of  November
 29,  2020,  if,  on or before December 31, 2025, he shall file a written
 request to that effect with the state comptroller.
   § 2. All service costs attributable to the operation 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:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03528-02-5
 A. 5441                             2
              

 
   This bill would grant Michael V. Layman, a retiree  of  the  New  York
 State  and  Local  Police and Fire Retirement System and former New York
 State Police officer, additional service creditable for time worked as a
 university police officer.
   If  this  bill  is  enacted during the 2025 Legislative Session, there
 will be an immediate past service cost of approximately  $127,000  which
 will be borne by the State of New York as a one-time payment. This esti-
 mate assumes that payment will be made on March 1, 2026.
   Summary of relevant resources:
   Membership  data as of March 31, 2024 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2024 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2024  Report  of the Actuary and the 2024 Annual Comprehensive Financial
 Report.  The actuarial assumptions and methods used are described in the
 2024 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, 2024 New York State and Local Retirement System Financial Statements
 and Supplementary Information.
   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  February  7,  2025,  and intended for use only
 during the 2025 Legislative Session, is  Fiscal  Note  No.  2025-36.  As
 Chief  Actuary  of  the  New  York State and Local Retirement System, 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 Actuaries, of
 which I am a member.