Assembly Bill A8323

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8323
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 13, 2025
                                ___________
 
 Introduced by M. of A. GANDOLFO -- read once and referred to the Commit-
   tee on Governmental Employees
 
 AN  ACT  granting  retroactive membership with Tier IV status in the New
   York state and local employees' retirement system to Brian Landers
 
   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,
 Brian  Landers, a tier VI member of the New York state and local employ-
 ees' retirement system employed by the village  of  Lindenhurst  with  a
 start  date  of  June 19, 2006, and who is currently a member of the New
 York state and local employees' retirement system, who through no  fault
 of  his  own  did  not  become  a member of the New York state and local
 employees' retirement system on June 19, 2006 when first employed by the
 village of Lindenhurst, shall be deemed to have been a member of the New
 York state and local  employees'  retirement  system  on  such  date  he
 commenced  his  employment and shall be granted Tier IV status, provided
 that an application is filed with the head of the  New  York  state  and
 local  employees'  retirement  system within one year from the effective
 date of this act. Upon the  granting  of  such  retroactive  membership,
 Brian Landers shall not be granted a refund of any employee contribution
 made  by  him  to  the  New  York  state and local employees' retirement
 system.
   § 2. All past service costs of implementing the provisions of this act
 shall be borne by the village of Lindenhurst.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would grant Tier 4 status in the New York  State  and  Local
 Employees'  Retirement System (NYSLERS) to Brian Landers, a current Tier
 6 member employed by Huntington Union Free School District, by  changing
 their  date  of membership to June 19, 2006, their date of first employ-

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11573-02-5
 A. 8323                             2
              

 
 ment with the Village of Lindenhurst. There will be no refund of  member
 contributions.
   If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate  that  there  will  be an increase of approximately $11,000 in the
 annual contributions of the Village of Lindenhurst for the  fiscal  year
 ending  March 31, 2026. In future years this cost will vary as the bill-
 ing rates and salary of Brian Landers change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $57,000  which  will  be
 borne by the Village of Lindenhurst 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 28, 2025, and intended for use only during
 the 2025 Legislative Session, is Fiscal  Note  No.  2025-164.  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.