Bill Text: NY A07455 | 2023-2024 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Authorizes retired firefighters to be employed as fire science instructors by career and technical education centers without a reduction of their retirement benefits.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Introduced) 2024-01-25 - print number 7455a [A07455 Detail]

Download: New_York-2023-A07455-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7455

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                      May 23, 2023
                                       ___________

        Introduced  by  M. of A. GUNTHER, COLTON, STECK, FRIEND -- read once and
          referred to the Committee on Governmental Employees

        AN ACT to amend the retirement and social security law, in  relation  to
          authorizing retired firefighters to be employed as instructors of fire
          sciences by a career and technical education center without diminution
          of his or her retirement benefits

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

     1    Section 1. The retirement and social security law is amended by adding
     2  a new section 214-c to read as follows:
     3    § 214-c. Employment of certain retired persons who retired  from  fire
     4  service.   Notwithstanding   the  provisions  of  this  chapter  or  the
     5  provisions of any state or local law or  charter  to  the  contrary,  no
     6  retired person who retired from fire service as a member of the New York
     7  state  and  local police and fire retirement system or the New York fire
     8  department pension fund, and who is employed by a career  and  technical
     9  education  center as an instructor in a fire science program approved by
    10  the education department, shall have his or her retirement allowance  or
    11  benefits  suspended  or  reduced  because of compensation earned by such
    12  retired person from service as a fire science instructor.
    13    § 2. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          Insofar as it would affect the New York  State  and  Local  Retirement
        System  (NYSLRS),  this  bill  would  allow retired firefighters who are
        employed as fire science instructors in a program approved  by  the  New
        York  State  Department  of  Education to continue to receive their full
        retirement benefit. Currently, the  post-retirement  earnings  limit  is
        $35,000.
          If  this  bill  were  enacted during the 2023 legislative session, the
        direct cost incurred would be  the  retiree's  post-retirement  earnings

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06509-02-3
        A. 7455                             2

        more  than  $35,000  each  calendar year, not to exceed the full pension
        benefit paid by the NYSLRS during that period.
          The  number  of  members  and  retirees  who could be affected by this
        legislation cannot be readily determined. For each retiree hired  pursu-
        ant  to  this  proposal, an annual cost of $90,000 is expected. If large
        numbers of retirees are hired into such  positions,  significant  annual
        costs would result.
          All  costs will be shared by the State of New York and all participat-
        ing employers in the NYSLRS and spread over future billing cycles. Since
        this proposal exclusively benefits retirees,  the  increased  costs  are
        primarily  attributable to retirees from Tiers 1 - 4. Approximately half
        the contributions required to fund this proposal will  be  collected  on
        salary reported for current members of Tier 6.
          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.
          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 30, 2023, and intended for use only  during
        the  2023  Legislative  Session, is Fiscal Note No. 2023-50, prepared by
        the Actuary for the New York State and Local Retirement System.