Senate Bill S8893

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8893
 
                             I N  S E N A T E
 
                             January 13, 2026
                                ___________
 
 Introduced  by  Sen.  O'MARA -- 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 Cory M. Rose
 
   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,
 Cory  M.  Rose,  a tier VI member of the New York state and local police
 and fire retirement system employed by  the  Horseheads  village  police
 department  and who was previously employed as a part-time employee with
 the Herkimer county youth bureau program at the  Mount  Markham  central
 school district and the village of West Winfield public works department
 from  July  15,  2004, through 2005 and who, through no fault of his own
 and as an error or mistake by the Herkimer county youth  bureau  program
 in  failing to properly inform Cory M. Rose of his eligibility to enroll
 in the New York state and local employees' retirement  system,  did  not
 become  a  member  of the New York state and local employees' retirement
 system on July 15, 2004, when he became eligible for membership in  such
 system,  shall  be deemed to have a date of membership with the New York
 state and local police and fire retirement system of July 15,  2004,  if
 he shall file an application therefore with the state comptroller within
 one  year  of  the  effective date of this act. Upon the receipt of such
 application, Cory M. Rose shall be granted tier II  status  in  the  New
 York  state  and  local  police  and fire retirement system and shall be
 eligible for all the rights and benefits thereof.
   § 2. All past service costs of implementing the provisions of this act
 shall be borne by the Horseheads village police  department,  and  there
 shall be no refund of member contributions to Cory M. Rose.
   § 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 Cory M. Rose, a  current
 Tier  6  member employed by the Horseheads village police department, by
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13880-03-6
              

 S. 8893                             2
 
 changing their date of membership to July 15, 2004.  There  will  be  no
 refund of member contributions.
   We  estimate that the village of Horseheads' annual contributions will
 increase $9,500 beginning FYE 2027. Annual costs will vary as the  bill-
 ing rates and salary of Cory M. Rose change.
   In  addition,  there  will be an immediate past service cost of $2,980
 borne by the village of Horseheads 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  12,  2026,  and intended for use only
 during the 2026 Legislative Session, is Fiscal Note Number  2026-15.  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.