Senate Bill S9993

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9993
 
                             I N  S E N A T E
 
                              April 21, 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 Joshua David Olsen
 
   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, Joshua David
 Olsen, who is a member of  the  New  York  state  and  local  employees'
 retirement  system  with  tier  VI status, and who, from January 1, 1999
 through December 31, 2001, and January 1, 2002 through May 21, 2003  was
 employed  part-time  with  the Schenectady city school district and SUNY
 Albany, respectively, and who, since 2015 has been employed as  a  full-
 time attorney by the New York state office for people with developmental
 disabilities, and who, for reasons not ascribable to his own negligence,
 failed  to  become  a  member of the New York state and local employees'
 retirement system or the New York state teachers' retirement  system  in
 1999  or  2002, shall be deemed to have joined such retirement system in
 January 1, 1999, if he shall file an application therefor with the state
 comptroller within one year of the effective date of  this  act.    Upon
 receipt of such application, Joshua David Olsen 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  associated  with  implementing   the
 provisions  of  this  act  shall  be borne by the state of New York, and
 there shall be no refund of the members contributions  to  Joshua  David
 Olsen.
   § 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 Joshua David Olsen, a  current
 Tier  6  member  employed  by  the New York state office for people with
 developmental disabilities, by changing  their  date  of  membership  to
 January  1,  1999,  their  date of first employment with the Schenectady
 city school district.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD14458-04-6
 S. 9993                             2
 
   There will be no refund of member contributions.
   We  estimate  that  the  state of New York's annual contributions will
 increase $14,000 beginning FYE 2027. Annual costs will vary as the bill-
 ing rates and salary of Joshua David Olsen change.
   In addition, there will be an immediate past service cost  of  $78,000
 borne  by the state of New York as a one-time payment. This cost assumes
 that payment will be made on March 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 April 15, 2026, and intended for use only  during
 the  2026  Legislative  Session, is Fiscal Note Number 2026-85. 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.