Senate Bill S10302

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10302
 
                             I N  S E N A T E
 
                               May 12, 2026
                                ___________
 
 Introduced  by Sen. HARCKHAM -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT authorizing Breanne M. Smith to receive a refund of certain accu-
   mulated contributions paid to 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 the provisions of subdivision b of  section
 902  of the retirement and social security law, Breanne M. Smith, a Tier
 4 member of the New York state and local employees'  retirement  system,
 who  was  formerly a Tier 4 member of the New York city employee retire-
 ment system with six years and five months of service  credit  who  then
 paid  contributions  as  a Tier 6 member of the New York state and local
 employees' retirement system employee  employed  at  the  Putnam  County
 district  attorney's  office  during the period of January, 2016 through
 March 8, 2023 and initiated a tier reinstatement on July 12, 2019, shall
 be entitled to a refund of the accumulated contributions paid to the New
 York state and local employees' retirement  system  for  the  period  in
 which  the tier reinstatement was not initiated and a cessation date was
 not established, if an application is  filed  within  one  year  of  the
 effective date of this act.
   §  2. Notwithstanding any other provision of law to the contrary, none
 of the provisions of this act shall be subject  to  section  25  of  the
 retirement and social security law.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would authorize the return of member contributions paid by
 Breanne Smith between January 13, 2016 and July 12, 2019. Breanne  Smith
 is  a  current member of the New York State and Local Employees' Retire-
 ment System (NYSLERS) employed by Putnam county.
   There will be an immediate past service cost of $17,800 shared by  all
 participating  employers  in  NYSLERS  and  spread  over  future billing
 cycles.
   This bill will not increase Putnam county's annual contributions.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD11148-05-6
 S. 10302                            2
 
   Summary of relevant resources:
   Membership data as of March 31, 2025 was used to measure the impact of
 the  bill, the same data used in the Actuarial Valuations dated April 1,
 2025. Distributions and other statistics can be found in the 2025 Report
 of the Actuary and the 2025 Annual Comprehensive Financial  Report.  The
 actuarial  assumptions and methods used are described in the 2025 Annual
 Report to the Comptroller on Actuarial Assumptions, and the Codes, Rules
 and Regulations of the State of New York: Audit and  Control.  The  fair
 value  of assets and GASB disclosures can be found in the 2025 Financial
 Statements and Supplementary Information.
   Assumptions, demographics, and  other  considerations  may  have  been
 modified  to  better reflect specific provisions of any proposed benefit
 change(s).
   This fiscal note does not constitute a legal opinion on the  viability
 of the bill, nor is it intended to serve as a substitute for the profes-
 sional judgment of an attorney.
   This  estimate,  dated  February  23,  2026, and intended for use only
 during the 2026 Legislative Session, is Fiscal Note Number 2026-117.  As
 Chief  Actuary  of  the  New  York  State  and  Local  Retirement System
 (NYSLRS), I, Aaron Schottin Young, hereby  certify  that  this  analysis
 complies  with applicable 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 Actu-
 aries,  of  which  I  am  a  member.  I am a member of NYSLRS but do not
 believe it impairs my objectivity.