Assembly Bill A7471

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7471
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 28, 2025
                                ___________
 
 Introduced by M. of A. HUNTER -- read once and referred to the Committee
   on Governmental Employees
 
 AN ACT granting retroactive retirement service credit to David M. Sturtz
 
   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,  David  M.
 Sturtz,  currently  a  village of Liverpool police officer and member of
 the New York state and local police and fire retirement  system  covered
 by  section 384-d of the retirement and social security law, who between
 October 14, 2002 and April 12, 2011 was employed by the Onondaga  county
 sheriff's  department  where  he  was a member of the New York state and
 local employees' retirement system, and who, for reasons not  ascribable
 to  his  own  negligence,  was  not granted service credit under section
 384-d of the retirement and  social  security  law  for  his  period  of
 employment  with  the  Onondaga  county  sheriff's  department, shall be
 granted such service credit under section 384-d of  the  retirement  and
 social  security  law and shall be entitled to the full rights and bene-
 fits associated with coverage under such section, provided a request  to
 that effect is filed with the state comptroller within one year from the
 effective  date  of this act.   Prior to David M. Sturtz submitting such
 request, he shall first file an application for transfer  of  membership
 with the New York state and local employees' retirement system. Upon the
 completion  of  such  transfer,  David  M. Sturtz shall not be granted a
 refund of any employee contributions made by him to the New  York  state
 and local employees' retirement system.
   §  2.  All  past  services costs associated with the implementation of
 this act shall be borne by the village of Liverpool.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would grant  service  credit  under  section  384-d  of  the
 Retirement  and Social Security Law (RSSL) to David M. Sturtz, a current
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09837-02-5
              

 A. 7471                             2
 
 member of the New York State and Local Police and Fire Retirement System
 (NYSLPFRS) employed by the Village of Liverpool, for the period of Octo-
 ber 14, 2002 through  April  12,  2011,  during  which  time  they  were
 employed  by the Onondaga County sheriff's department. Currently, deputy
 sheriff service is not  creditable  in  a  NYSLPFRS  twenty-year  police
 retirement plan.
   If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate  that  there  will  be  an increase of approximately $2,000 in the
 annual contributions of the Village of Liverpool  for  the  fiscal  year
 ending  March 31, 2026. In future years this cost will vary as the bill-
 ing rates and salary of David M. Sturtz change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $233,000 which  will  be
 borne  by  the Village of Liverpool as a one-time payment. This estimate
 assumes that payment will be made on February 1, 2026.
   David M. Sturtz must transfer the service credit earned while employed
 by the Onondaga County sheriff's department to the NYSLPFRS  before  the
 service credit can be granted under section 384-d of the RSSL.
   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 March 24, 2025, and intended for use only  during
 the  2025  Legislative  Session,  is  Fiscal Note No. 2025-101. As Chief
 Actuary of the New York State and  Local  Retirement  System,  I,  Aaron
 Schottin Young, hereby certify that this analysis complies with applica-
 ble  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.