S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8448
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 16, 2025
                                ___________
 
 Introduced  by M. of A. STECK -- read once and referred to the Committee
   on Governmental Employees
 
 AN ACT in relation to  authorizing  Kristin  Proud  to  receive  certain
   service credit with the New York state and local employees' 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  the  law  to  the
 contrary,  Kristin  Proud,  an employee of the New York state council on
 developmental disabilities and a member of the New York state and  local
 employees'  retirement  system,  who  for the period beginning March 25,
 2020 and ending November 8, 2020, was recruited by the senior  staff  in
 the  governor's  office to voluntarily assist the commissioner of health
 as a member of New York's "surge healthcare force" during  the  COVID-19
 pandemic,  shall  be  granted  full-time  service credit in the New York
 state and local employees' retirement system for her  volunteer  employ-
 ment beginning March 25, 2020 and ending November 8, 2020, if within one
 year of the effective date of this act, she shall file a written request
 with  the state comptroller. No contributions made to the New York state
 and local  employees'  retirement  system  by  Kristin  Proud  shall  be
 returned or refunded to her pursuant to this act.
   § 2. All past service costs of implementing the provisions 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 service credit to Kristin Proud, a Tier 4 member
 of  the  New York State and Local Employees' Retirement System (NYSLERS)
 employed by the New York state council  on  developmental  disabilities,
 for the period March 25, 2020 through November 8, 2020 during which time
 they  were  recruited  by  the  senior staff in the governor's office to
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11633-03-5
 A. 8448                             2
              

 
 voluntarily assist the commissioner of health as a member of New  York's
 "surge healthcare force" during the COVID-19 pandemic.
   This bill is not consistent with the current New York State law defin-
 ing credited service as paid employment with a participating employer in
 NYSLRS.
   This  bill  will  not  increase the future annual contributions of the
 State of New York.
   If this bill is enacted during the  2025  Legislative  Session,  there
 will  be  an  immediate past service cost of approximately $20,800 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 May 13, 2025, and intended for  use  only  during
 the  2025  Legislative  Session,  is  Fiscal Note No. 2025-162. 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.