Bill Text: NY A08787 | 2019-2020 | General Assembly | Amended

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Bill Title: Grants retroactive membership in Tier IV of the New York state and local employees' retirement system to Shawn Coveny.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2020-06-09 - REFERRED TO RULES [A08787 Detail]

Download: New_York-2019-A08787-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         8787--A

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                    November 25, 2019
                                       ___________

        Introduced by M. of A. BYRNES -- read once and referred to the Committee
          on  Governmental  Employees -- recommitted to the Committee on Govern-
          mental Employees in accordance with Assembly Rule 3, sec. 2 -- commit-
          tee discharged, bill amended, ordered reprinted as amended and  recom-
          mitted to said committee

        AN  ACT  granting retroactive membership in the New York state and local
          employees' retirement system to Shawn Coveny

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

     1    Section  1. Notwithstanding any other law to the contrary, Shawn Cove-
     2  ny, an employee of the New York  State  Department  of  Corrections  and
     3  Community  Supervision  and  a  member  of  the New York state and local
     4  employees' retirement system, who was employed as a New York state  park
     5  aide  for  Letchworth State Park as a seasonal employee in the summer of
     6  2008, who for reasons not ascribable to his own  negligence,  failed  to
     7  become  a  member  of  such  retirement system during such employment by
     8  Letchworth State Park in 2008, shall be deemed to have  joined  the  New
     9  York  state  and  local employees' retirement system on the date May 31,
    10  2008 if, within one year of the effective date of  this  act,  he  shall
    11  file a written request with the state comptroller.
    12    §  2. No contributions made to the New York state and local employees'
    13  retirement system by Shawn Coveny shall be returned or refunded  to  him
    14  pursuant to this act.
    15    § 3. All past service costs of implementing the provisions of this act
    16  shall be borne by the state of New York.
    17    § 4. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  change  the  date of membership for Shawn Coveny, a
        current Tier 6 member in the New York State and Local Employees' Retire-
        ment System employed by the New York State Department of Corrections and
        Community Supervision, to May 31, 2008, his  first  date  of  employment

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13116-05-0
        A. 8787--A                          2

        with  Letchworth  State Park. There will be no refund of member contrib-
        utions.
          If  this  bill  is  enacted during the 2020 legislative session, 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, 2021. In
        future years, this cost will vary as the billing  rates  and  salary  of
        Shawn Coveny change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service  cost of approximately $4,170 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, 2021.
          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, 2019  actuarial  valu-
        ation.    Distributions  and  other  statistics can be found in the 2019
        Report of the  Actuary  and  the  2019  Comprehensive  Annual  Financial
        Report.
          The  actuarial assumptions and methods used are described in the 2015,
        2016, 2017, 2018, and 2019 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, 2019
        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 May 27, 2020, and intended for  use  only  during
        the  2020  Legislative Session, is Fiscal Note No. 2020-115, prepared by
        the Actuary for the New York State and Local Retirement System.