Senate Bill S9451

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9451
 
                             I N  S E N A T E
 
                              March 12, 2026
                                ___________
 
 Introduced  by  Sen.  FAHY  --  read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT granting retroactive tier IV membership in the New York state and
   local employees' retirement system to Katie Adamek
 
   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,
 Katie Adamek, a tier V member of the New York state and local employees'
 retirement  system  employed  by  the  Schenectady  City School District
 beginning November 23, 2009 and who, through no fault of  her  own,  did
 not  become  a member of the New York state and local employees' retire-
 ment system on November 23, 2009 when she became eligible for membership
 in such system, shall be deemed to have a date of  membership  with  the
 New  York  state  and local employees' retirement system of November 23,
 2009 if she shall file an application  therefor  with  the  state  comp-
 troller  within  one  year  of  the effective date of this act. Upon the
 receipt of such application, Katie  Adamek  shall  be  granted  tier  IV
 status  in the New York state and local employees' 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 Schenectady City School District, and there  shall  be
 no refund of member contributions to Katie Adamek.
   § 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 (NYSLERS) to Katie Adamek, a current Tier 5
 member employed by the Schenectady City  School  District,  by  changing
 their  date  of  membership  to  November  23, 2009, their date of first
 employment with the Schenectady City School District.
   There will be no refund of member contributions.
   We  estimate  that  the  Schenectady  City  School  District's  annual
 contributions will increase $2,300 beginning FYE 2027. Annual costs will
 vary as the billing rates and salary of Katie Adamek change.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13754-03-6
              

 S. 9451                             2
 
   In  addition,  there will be an immediate past service cost of $87,000
 borne by the Schenectady City School District  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  February  10,  2026, and intended for use only
 during the 2026 Legislative Session, is Fiscal Note Number 2026-124.  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.