Senate Bill S8738

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8738
 
                             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  membership  with  Tier  IV
   status in the New York state and local employees' retirement system to
   Philip Apruzzese
 
   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,
 Philip Apruzzese, who was employed by the town of Yorktown with a  start
 date  of  June  25,  2001, and who is currently a member of the New York
 state and local employees' retirement system, who through  no  fault  of
 his  own did not become a member of the New York state and local employ-
 ees' retirement system on June 25, 2001 when he  first  became  eligible
 for  membership in such system, shall be deemed to have been a member of
 the New York state and local employees' retirement system on  such  date
 he  commenced  his  employment  and  shall  be  granted  Tier IV status,
 provided that an application is filed with the  head  of  the  New  York
 state  and  local  employees' retirement system within one year from the
 effective date of this act. Upon granting of  such  retroactive  member-
 ship,  Philip  Apruzzese  shall  not be granted a refund of any employee
 contribution made by him to the New  York  state  and  local  employees'
 retirement system.
   § 2. All past service costs associated with the implementation of this
 act shall be borne by the Town of Yorktown.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  grant Tier 4 status in the New York State and Local
 Employees' Retirement System to  Philip  Apruzzese,  a  current  Tier  5
 member  employed  by  the  Department  of Law, by changing their date of
 membership to June 25, 2001, their first date  of  employment  with  the
 town of Yorktown.
   There will be no refund of member contributions.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14068-02-6
 S. 8738                             2
              

 
   We  estimate  that  the  Department of Law's annual contributions will
 increase $4,600 beginning FYE 2027. Annual costs will vary as the  bill-
 ing rates and salary of Philip Apruzzese change.
   In  addition, there will be an immediate past service cost of $147,000
 borne by the town of Yorktown 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 2026-9. 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  Pro-
 fessional  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.