Bill Text: NY A05715 | 2023-2024 | General Assembly | Introduced

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Bill Title: Relates to increasing the mandatory retirement age of New York state regional park police from 62 to 65 years old.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to governmental employees [A05715 Detail]

Download: New_York-2023-A05715-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5715

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                     March 22, 2023
                                       ___________

        Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
          Committee on Governmental Employees

        AN ACT to amend the parks, recreation and historic preservation law,  in
          relation  to increasing the mandatory retirement age of New York state
          regional park police

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section 1. Subdivision 4 of section 13.17 of the parks, recreation and
     2  historic  preservation  law,  as  amended  by chapter 662 of the laws of
     3  1972, is amended to read as follows:
     4    4. Any member appointed on or  after  April  first,  nineteen  hundred
     5  sixty-five  shall  be separated from such service upon attaining [sixty-
     6  two] sixty-five years of age.
     7    § 2. This act shall take effect immediately.
     8    FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would increase the mandatory retirement age from  62  to  65
        for  members  of the New York State and Local Police and Fire Retirement
        System (NYSLPFRS) covered under the provisions of section 383-a  of  the
        Retirement and Social Security Law.
          If  this  bill  is  enacted during the 2023 legislative session, there
        would be additional benefits for certain  members  who  remain  employed
        beyond  age  62  which  would  be funded by the normal employer contrib-
        utions. If members delay retirement due to the enactment of  this  bill,
        we  do not anticipate any increases in the annual contribution rates for
        any of the participating employers in the NYSLPFRS.
          Summary of relevant resources:
          Membership data as of March 31, 2022 was used in measuring the  impact
        of the proposed change, the same data used in the April 1, 2022 actuari-
        al  valuation.  Distributions  and  other statistics can be found in the
        2022 Report of the Actuary and the 2022 Annual  Comprehensive  Financial
        Report.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08529-02-3
        A. 5715                             2

          The  actuarial assumptions and methods used are described in the 2020,
        2021, and 2022 Annual Report to the  Comptroller  on  Actuarial  Assump-
        tions,  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, 2022
        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 fiscal note does not constitute a legal opinion on the  viability
        of  the  proposed change nor is it intended to serve as a substitute for
        the professional judgment of an attorney.
          This estimate, dated March 13, 2023, and intended for use only  during
        the  2023  Legislative Session, is Fiscal Note No. 2023-109, prepared by
        the Actuary for the New York State and Local Retirement System.