Bill Text: NY A03658 | 2017-2018 | General Assembly | Introduced

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Bill Title: Authorizes Patricia Gill-Davanzo Tier IV status in the New York state and local employees' retirement system; states past costs shall be borne by the North Babylon Union Free School District.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-01-03 - referred to governmental employees [A03658 Detail]

Download: New_York-2017-A03658-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          3658
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    January 30, 2017
                                       ___________
        Introduced  by  M.  of  A.  JEAN-PIERRE -- read once and referred to the
          Committee on Governmental Employees
        AN ACT to authorize Patricia Gill-Davanzo Tier IV status in the New York
          state and local employees' retirement system
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Notwithstanding any other provision of law, Patricia Gill-
     2  Davanzo, a member of the New York State and Local Employees'  Retirement
     3  System  (NYSERS) with Tier V status, who was employed by the North Baby-
     4  lon Union Free School District on June 16, 1993 and who for reasons  not
     5  ascribable  to  her own negligence was not offered membership in the New
     6  York State and Local Employees' Retirement System on June 16, 1993 as  a
     7  Tier IV member, shall, upon application filed with the state comptroller
     8  on or before December 31, 2017, be reclassified as a Tier IV member with
     9  June  16,  1993 as her date of membership and shall be entitled to every
    10  right, benefit and privilege which would have been available to  her  in
    11  accordance with Tier IV status.
    12    §  2. No contributions made to the New York state and local employees'
    13  retirement system by Patricia Gill-Davanzo shall be returned or refunded
    14  to her pursuant to this act.
    15    § 3. All past service costs associated with the implementation of this
    16  act shall be borne by the North Babylon Union Free School District.
    17    § 4. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill will grant Tier 4 status in the New  York  State  and  Local
        Employees'  Retirement System to Patricia Gill-Davanzo, a current Tier 5
        member employed by the North Babylon  Union  Free  School  District,  by
        changing  her  date  of  membership  to  June 16, 1993. There will be no
        refund of member contributions.
          If this legislation is enacted during the 2017 legislative session, we
        anticipate that there will be an increase of approximately $1,700 in the
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05500-02-7
        A. 3658                             2
        annual contributions of the North Babylon Union Free School District for
        the fiscal year ending March 31, 2018. In future years, this  cost  will
        vary as the billing rates and salary of Patricia Gill-Davanzo change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service cost of approximately $17,800 which will be
        borne by the North  Babylon  Union  Free  School  District  as  one-time
        payment.  This  estimate is based on the assumption that payment will be
        made on February 1, 2018.
          Summary of relevant resources:
          The membership data used in  measuring  the  impact  of  the  proposed
        change  was  the same as that used in the March 31, 2016 actuarial valu-
        ation.  Distributions and other statistics can  be  found  in  the  2016
        Report  of  the  Actuary  and  the  2016  Comprehensive Annual Financial
        Report.
          The actuarial assumptions and methods used are described in  the  2015
        and  2016 Annual Report to the Comptroller on Actuarial Assumptions, and
        the Codes Rules and Regulations of the State  of  New  York:  Audit  and
        Control.
          The Market Assets and GASB Disclosures are found in the March 31, 2016
        New  York  State  and  Local  Retirement System Financial Statements and
        Supplementary Information.
          I am a member of the American Academy of Actuaries and meet the Quali-
        fication Standards to render the actuarial opinion contained herein.
          This estimate, dated January 12, 2017 and intended for use only during
        the 2017 Legislative Session, is Fiscal Note No. 2017-8, prepared by the
        Actuary for the New York State and Local Retirement System.