Bill Text: NY A06979 | 2019-2020 | General Assembly | Introduced


Bill Title: Authorizes Jaime Laczko to elect to participate in the optional 25 year retirement plan for forest rangers.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed) 2019-06-20 - REFERRED TO RULES [A06979 Detail]

Download: New_York-2019-A06979-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          6979
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                     March 29, 2019
                                       ___________
        Introduced  by  M. of A. STEC -- read once and referred to the Committee
          on Governmental Employees
        AN ACT to authorize Jaime Laczko to elect to participate in the optional
          twenty-five year retirement plan for forest rangers in the service  of
          the department of environmental conservation
          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, Jaime Laczko, a
     2  member of the New York  state  and  local  police  and  fire  retirement
     3  system,  who is employed by the department of environmental conservation
     4  as a full-time forest ranger I,  who  upon  commencing  such  employment
     5  became  a  member of such retirement system subject to the provisions of
     6  section 375-h of the retirement and social security law, who was  eligi-
     7  ble,  at such time, to elect to join the New York state and local police
     8  and fire retirement system subject  to  the  optional  twenty-five  year
     9  retirement  plan  for forest rangers in the service of the department of
    10  environmental conservation pursuant to section 383-c of  the  retirement
    11  and  social security law, and who, for reasons not ascribable to his own
    12  negligence, failed to elect to  participate  in  such  twenty-five  year
    13  retirement  plan,  shall be deemed to have elected to participate in the
    14  retirement plan, established by section  383-c  of  the  retirement  and
    15  social  security  law,  upon  commencement of his employment as a forest
    16  ranger I, if, within 1 year of the effective date of this act, he  shall
    17  file an application therefor with the state comptroller.
    18    §  2.  All  past  costs associated with implementing the provisions of
    19  this act shall be borne by the state of New  York.  Jaime  Laczko  shall
    20  bear  no  costs  associated with the implementation of the provisions of
    21  this act.
    22    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08760-02-9

        A. 6979                             2
          This bill will deem Jaime Laczko, a forest  ranger  currently  covered
        under  an  age 55 retirement plan, to have elected to participate in the
        25 year retirement plan established by Section 383-c of  the  Retirement
        and Social Security Law.
          If  this bill is enacted during the 2019 legislative session and Jaime
        Laczko becomes covered under the provisions of Section 383-c, we  antic-
        ipate  that  there  will  be  an increase of approximately $4,800 in the
        annual contributions of the State of New York for the fiscal year ending
        March 31, 2020. In future years, this cost  will  vary  as  the  billing
        rates and salary of Jaime Laczko change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service  cost of $79,800 which will be borne by the
        State of New York as a one-time payment. This estimate is based  on  the
        assumption that payment will be made on March 1, 2020.
          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, 2018  actuarial  valu-
        ation.    Distributions  and  other  statistics can be found in the 2018
        Report of the  Actuary  and  the  2018  Comprehensive  Annual  Financial
        Report.
          The  actuarial assumptions and methods used are described in the 2015,
        2016, 2017 and 2018  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, 2018
        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  February  15,  2019, and intended for use only
        during the  2019  Legislative  Session,  is  Fiscal  Note  No.  2019-53,
        prepared  by  the  Actuary  for  the New York State and Local Retirement
        System.
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