S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8941
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               July 16, 2025
                                ___________
 
 Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
   Committee on Governmental Employees
 
 AN ACT to amend the retirement and social security law, in  relation  to
   providing retirement credit to fire protection inspector members for a
   child care leave of absence

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 609 of the retirement and social  security  law  is
 amended by adding a new subdivision i to read as follows:
   I. 1. NOTWITHSTANDING ANY OTHER LAW OR CODE PROVISION THAT PROHIBITS A
 MEMBER  FROM RECEIVING RETIREMENT CREDIT FOR ANY PERIOD DURING WHICH THE
 MEMBER WAS ABSENT ON LEAVE WITHOUT PAY, INCLUDING BUT  NOT  LIMITED  TO,
 SUBDIVISION  C OF THIS SECTION, ANY FIRE PROTECTION INSPECTOR MEMBER, AS
 DEFINED IN PARAGRAPH TWO OF THIS SUBDIVISION, WHO IS ABSENT WITHOUT  PAY
 FOR  A CHILD CARE LEAVE OF ABSENCE PURSUANT TO THE TERMS OF A COLLECTIVE
 BARGAINING AGREEMENT COVERING THE FIRE PROTECTION INSPECTOR MEMBER SHALL
 BE ELIGIBLE FOR CREDIT FOR SUCH PERIOD OF CHILD CARE LEAVE PROVIDED SUCH
 MEMBER FILES A CLAIM FOR SUCH SERVICE CREDIT WITH THE  PENSION  FUND  BY
 DECEMBER  THIRTY-FIRST,  TWO  THOUSAND TWENTY-FIVE OR WITHIN NINETY DAYS
 FOLLOWING TERMINATION OF THE CHILD CARE LEAVE, WHICHEVER IS  LATER,  AND
 CONTRIBUTES  TO  THE PENSION FUND AN AMOUNT WHICH SUCH MEMBER WOULD HAVE
 CONTRIBUTED DURING THE PERIOD OF SUCH CHILD CARE  LEAVE,  TOGETHER  WITH
 INTEREST  THEREON.  SERVICE CREDIT PROVIDED PURSUANT TO THIS SUBDIVISION
 SHALL NOT EXCEED ONE YEAR OF CREDIT FOR EACH PERIOD OF AUTHORIZED  CHILD
 CARE LEAVE.
   2. FOR PURPOSES OF THIS SUBDIVISION, THE TERM "FIRE PROTECTION INSPEC-
 TOR  MEMBER" SHALL MEAN A MEMBER OF THE NEW YORK CITY EMPLOYEES' RETIRE-
 MENT SYSTEM WHO IS EMPLOYED BY THE CITY OF NEW YORK OR BY THE  NEW  YORK
 CITY  FIRE  DEPARTMENT  IN  A  TITLE  WHOSE  DUTIES  ARE THOSE OF A FIRE
 PROTECTION INSPECTOR OR ASSOCIATE FIRE PROTECTION  INSPECTOR,  OR  IN  A
 TITLE WHOSE DUTIES REQUIRE THE SUPERVISION OF EMPLOYEES WHOSE DUTIES ARE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11197-04-5
              

 A. 8941                             2
 
 THOSE  OF  A  FIRE  PROTECTION  INSPECTOR  OR  ASSOCIATE FIRE PROTECTION
 INSPECTOR.
   § 2. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   SUMMARY:  This  proposed  legislation  would  permit  Fire  Protection
 Inspectors of the New York City Employees' Retirement System (NYCERS) to
 apply for and purchase up to one year of service credit for each  period
 of authorized unpaid childcare leave.
 
       ILLUSTRATION - INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS
                 by Fiscal Year for the first 25 years ($)
 
     Year       One Year of Service      One Year of Service
                      Purchased          Purchased Per Year
 
     2026              1,000                  1,000
     2027              1,000                  2,100
     2028              1,000                  3,200
     2029              1,000                  4,300
     2030              1,000                  5,500
     2031              1,000                  6,700
     2032              1,000                  8,000
     2033              1,000                  9,200
     2034              1,000                  10,500
     2035              1,000                  11,900
     2036              1,000                  13,300
     2037              1,000                  14,700
     2038              1,000                  16,200
     2039              1,000                  17,700
     2040              0                      18,300
     2041              0                      18,800
     2042              0                      19,400
     2043              0                      20,000
     2044              0                      20,600
     2045              0                      21,200
     2046              0                      21,800
     2047              0                      22,500
     2048              0                      23,200
     2049              0                      23,800
     2050              0                      24,600
 
    Employer contribution impact beyond Fiscal Year 2050 is not shown.
 
   The potential increases in employer contributions will be allocated to
 New York City.
   PRESENT  VALUE  OF  BENEFITS:  The  Present  Value  of Benefits is the
 discounted expected value of benefits paid to  current  members  if  all
 assumptions are met, including future service accrual and pay increases.
 Future new hires are not included in this present value.
 
          INITIAL INCREASE (DECREASE) IN ACTUARIAL PRESENT VALUES
                          as of June 30, 2024 ($)
 
           Present Value (PV)                    Per Year of Service
 
           (1) PV of Employer Contributions:     8,800
 A. 8941                             3

           (2) PV of Employee Contributions:     2,900
           Total PV of Benefits (1)+(2):         11,700
 
   UNFUNDED  ACCRUED  LIABILITY  (UAL): Actuarial Accrued Liabilities are
 the portion of the Present Value of Benefits allocated to past  service.
 Changes in UAL per incident would be recognized as ongoing gain/loss.
 
                AMORTIZATION OF UNFUNDED ACCRUED LIABILITY
 
              Recognized as Ongoing Gain/Loss    Per Year of Service
 
              Increase (Decrease) in UAL:          8,800
              Number of Payments:                     14
              Amortization Payment:                1,000
 
   CENSUS DATA: The number of members who will benefit in the future from
 this proposed legislation is unknown. The estimates presented herein are
 based  on  preliminary  census  data  collected as of June 30, 2024. The
 census data for the potentially impacted population used to develop  the
 average costs is summarized below.
 
                                                       NYCERS
              Active Members
              - Number Count:                            362
              - Average Age:                            48.4
              - Average Service (before purchase):      11.3
              - Average Salary:                        83,600
 
   Note  that  Chapter 55 of the Laws of 2024 established 25-year retire-
 ment programs for Fire Protection  Inspectors.  The  preliminary  census
 data  as  of  June  30, 2024 does not reflect members' elections to join
 these plans.
   IMPACT  ON  MEMBER  BENEFITS:  Currently,  Fire  Protection  Inspector
 members  of  NYCERS  are not able to purchase service credit for periods
 while on authorized unpaid childcare leave.
   Under the proposed  legislation,  Fire  Protection  Inspector  members
 would  be eligible to purchase up to one year of service credit for each
 period of authorized unpaid childcare leave, provided that they  file  a
 claim  within  90  days of the termination of such leave (or by December
 31, 2025, if later) and pay the amount that would have been  contributed
 during such leave, with interest.
   ASSUMPTIONS  AND  METHODS:  The  estimates  presented herein have been
 calculated based on the Revised 2021 Actuarial Assumptions  and  Methods
 of the impacted retirement systems.
   The  number of members who will benefit from this proposed legislation
 is unknown. The cost of this proposed  legislation  could  vary  greatly
 depending  on  the  number  of  future  members who benefit and on their
 length of service, age, and salary history.
   RISK AND UNCERTAINTY: The costs presented in this Fiscal  Note  depend
 highly  on  the  actuarial  assumptions, methods, and models used, demo-
 graphics of the impacted population, and other factors such  as  invest-
 ment, contribution, and other risks.  If actual experience deviates from
 actuarial   assumptions,  the  actual  costs  could  differ  from  those
 presented herein. Quantifying these risks is beyond the  scope  of  this
 Fiscal Note.
 A. 8941                             4
 
   This  Fiscal  Note  is intended to measure pension-related impacts and
 does not include other potential costs (e.g., administrative  and  Other
 Postemployment  Benefits). This Fiscal Note does not reflect any chapter
 laws that may have been enacted during the current legislative session.
   STATEMENT OF ACTUARIAL OPINION: Marek Tyszkiewicz and Gregory Zelikov-
 sky  are members of the Society of Actuaries and the American Academy of
 Actuaries. We are members of NYCERS, but do not believe it  impairs  our
 objectivity,  and  we  meet  the Qualification Standards of the American
 Academy of Actuaries to render the actuarial opinion  contained  herein.
 To  the  best  of  our knowledge, the results contained herein have been
 prepared in accordance with generally accepted actuarial principles  and
 procedures  and  with  the Actuarial Standards of Practice issued by the
 Actuarial Standards Board.
   FISCAL NOTE IDENTIFICATION: This Fiscal Note 2025-80  dated  June  11,
 2025  was prepared by the Chief Actuary for the New York City Retirement
 Systems and Pension Funds and is intended for use only during  the  2025
 Legislative Session.