Senate Bill S8734

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8734
 
                             I N  S E N A T E
 
                              January 7, 2026
                                ___________
 
 Introduced  by  Sen.  ASHBY  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT in relation to granting retroactive tier II membership in the New
   York state and local police and fire retirement system to  Javier-Luis
   I. Martinez
 
   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, Javier-Luis  I.
 Martinez,  a  member  of  the  New  York state and local police and fire
 retirement system currently employed by the town  of  Colonie,  who  was
 first  employed as a youth court program assistant for the town of Colo-
 nie, beginning on June 30, 2008, and who through no fault  of  his  own,
 failed  to  become  a  member of the New York state and local employees'
 retirement system during such employment by the town of Colonie in 2008,
 shall be deemed to have joined the New York state and  local  employees'
 retirement system on the date June 30, 2008 and shall be granted tier II
 status  in  the  New  York  state  and  local police and fire retirement
 system, if, he shall file a written application therefor with the  state
 comptroller  within one year of the effective date of this act. Upon the
 receipt of such application, Javier-Luis I.  Martinez shall  be  granted
 tier  II  status in the New York state and local police and fire retire-
 ment system and shall be eligible for all the rights and benefits there-
 of.
   § 2. All past service costs of implementing the provisions of this act
 shall be borne by the town of Colonie, and there shall be no  refund  of
 member contributions to Javier-Luis I. Martinez.
   § 3. 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 (NYSLPFRS) to Javier-Luis I. Martinez,
 a current Tier 6 member employed by the town  of  Colonie,  by  changing
 their  date  of  membership to June 30, 2008. There will be no refund of
 member contributions.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14091-03-6
              

 S. 8734                             2
 
   We estimate that the  town  of  Colonie's  annual  contributions  will
 increase $12,000 beginning FYE 2027. Annual costs will vary as the bill-
 ing rates and salary of Javier-Luis I. Martinez change.
   In  addition,  there  will be an immediate past service cost of $4,610
 borne by the town of Colonie as a one-time payment.  This  cost  assumes
 that payment will be made on February 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 January 5, 2026, and intended for use only during
 the  2026  Legislative  Session, is Fiscal Note Number 2026-12. 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.