S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8213
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 5, 2025
                                ___________
 
 Introduced by M. of A. KELLES -- read once and referred to the Committee
   on Governmental Employees
 
 AN  ACT  in  relation to authorizing Daniel H. Austic to receive certain
   service credit under a twenty year retirement plan
 
   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,
 Daniel  H.  Austic,  a member of the New York state and local police and
 fire retirement system, who was appointed as a police officer  with  the
 Trumansburg  Police Department, in the village of Trumansburg, county of
 Tompkins, on December 16, 2010, and who, through no fault  of  his  own,
 was  enrolled to participate in the retirement plan contained in section
 375-i of the retirement and social security law,  shall  be  given  full
 credit  in  the special twenty year retirement plan contained in section
 384-d of the retirement and social security law for  such  service  upon
 the election of the village of Trumansburg to assume the additional cost
 of such service.  The village of Trumansburg may so elect by filing with
 the state comptroller, no later than one year from the effective date of
 this  act,  a  resolution  of  its local legislative body, together with
 certification that such police officer did not bar himself from  partic-
 ipation in such retirement plan as a result of his own negligence. Ther-
 eafter, such police officer may elect to be covered by the provisions of
 section  384-d  of  the retirement and social security law, and shall be
 entitled to the full rights and benefits associated with coverage  under
 such  section,  by  filing a request to such effect with the state comp-
 troller no later than one year from the effective date of this act.
   §  2.  All  past  service  costs  associated  with  implementing   the
 provisions  of this act shall be borne by the village of Trumansburg, in
 the county of Tompkins.
   § 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.
                                                            LBD11330-02-5
              

 A. 8213                             2
 
   This bill would  allow  the  Village  of  Trumansburg  to  reopen  the
 provisions  of  section  384-d of the Retirement and Social Security Law
 (RSSL) for police officer Daniel H. Austic,  who  is  currently  covered
 under section 375-i of the RSSL.
   If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate that there will be an increase of approximately $550 in the annual
 contributions  of  the Village of Trumansburg for the fiscal year ending
 March 31, 2026. In future years this cost will vary as the billing rates
 and salary of Daniel H. Austic change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately  $3,090  which  will  be
 borne by the Village of Trumansburg as a one-time payment. This estimate
 assumes that payment will be made on February 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 April 22, 2025, and intended for use only during
 the 2025 Legislative Session, is Fiscal  Note  No.  2025-156.  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.