Senate Bill S7755

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7755
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                                May 5, 2025
                                ___________
 
 Introduced  by  Sen. JACKSON -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT to amend the retirement and social security law, in  relation  to
   retirement  benefits  for  certain  employees;  and  providing for the
   repeal of such provisions upon expiration thereof

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision c of section 700 of the retirement and social
 security law, as added by chapter 578 of the laws of 1989, is amended to
 read as follows:
   c. Such election shall be in writing, shall be duly executed and filed
 with the comptroller and, SUBJECT TO THE PROVISIONS OF SUBDIVISION D  OF
 THIS  SECTION, shall be irrevocable as long as such member is in a title
 defined in subdivision i of section eighty-nine  of  this  chapter.  The
 election  shall  be  filed  on or before December thirty-first, nineteen
 hundred eighty-nine  or  within  one  year  after  such  person  becomes
 employed in such title, whichever date is later.
   §  2. Section 700 of the retirement and social security law is amended
 by adding a new subdivision d to read as follows:
   D. NOTWITHSTANDING ANY PROVISION OF LAW  TO  THE  CONTRARY,  A  MEMBER
 EMPLOYED  BY  THE  OFFICE OF MENTAL HEALTH HOLDING THE TITLE OF SECURITY
 HOSPITAL TREATMENT ASSISTANT, SENIOR SECURITY HOSPITAL TREATMENT ASSIST-
 ANT, SECURITY HOSPITAL TREATMENT ASSISTANT  SPANISH  LANGUAGE,  SECURITY
 HOSPITAL  SENIOR TREATMENT ASSISTANT SPANISH LANGUAGE, SECURITY HOSPITAL
 TREATMENT ASSISTANT SUPERVISOR OR SECURITY HOSPITAL TREATMENT  ASSISTANT
 CHIEF,  SHALL BE ENTITLED TO FILE AN ELECTION, SUBJECT TO THE PROVISIONS
 OF ARTICLE FOURTEEN OR ARTICLE FIFTEEN OF THIS CHAPTER, IN ITS ENTIRETY,
 AND SHALL BE SUBJECT TO NONE  OF  THE  PROVISIONS  OF  THE  ARTICLE  NOT
 SELECTED BY THE MEMBER. SUCH ELECTION SHALL BE IN WRITING, SHALL BE DULY
 EXECUTED AND FILED WITH THE COMPTROLLER AND SHALL BE IRREVOCABLE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11225-02-5
 S. 7755                             2
              

 
   §  3.  This  act shall take effect on the thirtieth day after it shall
 have become a law and shall expire and be deemed  repealed  on  the  one
 hundred eightieth day after it shall have become a law.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would permit members of the New York State and Local Employ-
 ees' Retirement System (NYSLERS) employed as security hospital treatment
 assistants by the Office of Mental Health, a one-time election to choose
 between  coverage  under  an  Age-55 plan or a 25-year service plan. Any
 such election will be irrevocable and the member will forfeit all rights
 and privileges of their current plan.  Currently,  members  so  employed
 must  elect  plan coverage within one year from their employment in such
 title.  This bill has a sunset provision of 180 days.
   If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate that there will be an increase of approximately  $2.2  million  in
 the  annual  contributions  of the State of New York for the fiscal year
 ending March 31, 2026. In future  years  this  cost  will  vary  but  is
 expected to average 2.6% of salary annually.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $19.4 million which will
 be  borne  by the State of New York as a one-time payment. This estimate
 assumes that payment will be made on March 1, 2026.
   These estimated costs are based on 697 affected  members  employed  by
 the  Office  of Mental Health with an annual salary of approximately $68
 million as of March 31, 2024.
   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. 2025-145. 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.