S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8466
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 16, 2025
                                ___________
 
 Introduced by M. of A. GIGLIO -- read once and referred to the Committee
   on Governmental Employees
 
 AN ACT in relation to granting retroactive Tier II membership in the New
   York  state and local police and fire retirement system to Giuseppe T.
   Rosini
 
   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, Giuseppe T.
 Rosini, a member of the New York state and local police and fire retire-
 ment system, who was employed by the Wading  River  Fire  District  from
 October  2004  through December 2008, who, for reasons not ascribable to
 his own negligence, and as acknowledged as an error or  mistake  by  the
 Wading  River Fire Department in failing to notify Giuseppe T. Rosini of
 his eligibility to enroll or providing an opportunity to enroll in  such
 retirement  system  based  on  his  part-time employment with the Wading
 River Fire Department, did not file a membership application in the  New
 York  state  and  local  police  and  fire retirement system during such
 employment with the Wading River Fire District, and who would have  been
 eligible  to  enroll  as a member in the New York State and Local Police
 and Fire Retirement System as a Tier II status member at the time of his
 employment with the Wading River  Fire  Department,  did  not  become  a
 member of the New York state and local police and fire retirement system
 until  December  15, 2014, which gave him Tier VI status instead of Tier
 II status.
   § 2. Notwithstanding any other provision of law, Giuseppe  T.  Rosini,
 who  is  currently  employed  by the town of Riverhead, may be deemed to
 have become a member of the New York state and  local  police  and  fire
 retirement  system  on  October  25,  2004  if, within six months of the
 effective date of this act, he shall file with the state  comptroller  a
 written  request  to  that effect. Upon the granting of such retroactive
 membership, Giuseppe T. Rosini shall not be  granted  a  refund  of  any

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04421-04-5
              

 A. 8466                             2
 
 employee contribution made by him to the New York state and local police
 and  fire  retirement system and any and all such contributions shall be
 credited toward and used to pay costs and outstanding contributions  due
 and  owing  to  the  New York state and local police and fire retirement
 system associated with the implementation of this act.
   § 3. All past service costs associated with the implementation of this
 act that are related to Giuseppe T. Rosini's employment with the  Wading
 River Fire District shall be borne by the Wading River Fire District.
   §  4.  All other past service costs associated with the implementation
 of this act shall be borne by the town of Riverhead.
   § 5. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would grant Tier 2 status in the New York  State  and  Local
 Police  and Fire Retirement System to Giuseppe T. Rosini, a current Tier
 6 member employed by the Town of Riverhead, by changing  their  date  of
 membership  to  October  25,  2004,  their first date of employment with
 Wading River Fire District. There will be no refund of  member  contrib-
 utions.
   If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate  that  there  will  be an increase of approximately $18,000 in the
 annual contributions of the Town of Riverhead for the fiscal year ending
 March 31, 2026. In future years this cost will vary as the billing rates
 and salary of Giuseppe T. Rosini change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately  $2,880  which  will  be
 borne  by the Town of Riverhead. 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 May 5, 2025, and intended for use only during the
 2025  Legislative Session, is Fiscal Note No. 2025-154. As Chief Actuary
 of the New York State and Local Retirement  System,  I,  Aaron  Schottin
 Young,  hereby certify that this analysis complies with applicable Actu-
 arial Standards of Practice as well as the Code of Professional  Conduct
 and Qualification Standards for Actuaries Issuing Statements of Actuari-
 al Opinion of the American Academy of Actuaries, of which I am a member.