Senate Bill S10580

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10580
 
                             I N  S E N A T E
 
                               May 27, 2026
                                ___________
 
 Introduced  by  Sen. PALUMBO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT granting retroactive membership in the New York state  and  local
   police and fire retirement system to Cansu Zaim
 
   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,
 Cansu Zaim, currently a member of the New York state  and  local  police
 and  fire  retirement  system,  who  was  employed by the New York state
 legislature on January 3, 2012 who, for reasons not  ascribable  to  her
 own  negligence,  failed  to  become  a member of the New York state and
 local employees' retirement system during her employment  with  the  New
 York  state  legislature,  shall  be  deemed to have joined the New York
 state and local police and fire retirement system on the date January 3,
 2012 and shall be granted Tier V status in such  retirement  system,  if
 within  one  year  of  the  effective date of this act, she shall file a
 written request with the state comptroller to such effect.
   § 2. No contributions made to the New York state and local police  and
 fire  retirement  system  by Cansu Zaim shall be returned or refunded to
 her pursuant to this act.
   § 3. All past service costs associated with the implementation of this
 act shall be borne by the state of New York.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would grant Tier 5 status in the New York  State  and  Local
 Police and Fire Retirement System to Cansu Zaim, a current Tier 6 member
 employed  by  the  Division  of  State Police, by changing their date of
 membership to January 3, 2012, their first date of employment  with  the
 New  York  state legislature. There will be no refund of member contrib-
 utions.
   We estimate that the state of New  York's  annual  contributions  will
 increase  $7,200 beginning FYE 2027. Annual costs will vary as the bill-
 ing rates and salary of Cansu Zaim change.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15712-03-6
              

 S. 10580                            2
 
   In addition, there will be an immediate past service  cost  of  $2,890
 borne  by the state of New York as a one-time payment. This cost assumes
 that payment will be made on March 1, 2027.
   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  May 27, 2026, and intended for use only during
 the 2026 Legislative Session, is Fiscal Note Number 2026-207.  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 Actuaries, of
 which  I  am  a  member.  I  am a member of NYSLRS but do not believe it
 impairs my objectivity.