Bill Text: NY A09663 | 2019-2020 | General Assembly | Introduced

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Bill Title: Authorizes William J. Cooley to receive service credit under section 384-d of the retirement and social security law.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2020-11-27 - signed chap.292 [A09663 Detail]

Download: New_York-2019-A09663-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9663

                   IN ASSEMBLY

                                    February 4, 2020
                                       ___________

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

        AN ACT to authorize William J. Cooley to receive certain service  credit
          under section 384-d of the retirement and social security law

          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,  William  J.
     2  Cooley, currently a city of Buffalo police officer and member of the New
     3  York  state  and  local  police  and  fire  retirement system covered by
     4  section 384-d of the retirement and social security  law,  who  for  the
     5  period beginning June 16, 2003 and ending July 15, 2006, was employed as
     6  a  deputy sheriff by the Erie County Sheriff's Department where he was a
     7  member of the New York state and local employees' retirement system, and
     8  who, for reasons not ascribable to his own negligence, was  not  granted
     9  service credit under section 384-d of the retirement and social security
    10  law for such period of employment with the Erie County Sheriff's Depart-
    11  ment,  shall  be  granted such service credit under section 384-d of the
    12  retirement and social security law, and shall be entitled  to  the  full
    13  rights  and benefits associated with coverage under such section as well
    14  as section 384-e of such law, provided that a request to that effect  is
    15  filed with the state comptroller within one year from the effective date
    16  of this act.
    17    § 2. All past service costs incurred in implementing the provisions of
    18  this act shall be borne by the city of Buffalo.
    19    § 3. This act shall take effect immediately.
          FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
          This  bill will grant service credit under section 384-d together with
        section 384-e of the Retirement and Social Security Law  to  William  J.
        Cooley, a current member of the New York State and Local Police and Fire
        Retirement  System  (PFRS), for the period of June 16, 2003 through July
        15, 2006, during which he was employed as a deputy sheriff in Erie Coun-
        ty. Currently, deputy sheriff service is not creditable in a PFRS twenty
        year police retirement plan.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14537-04-0
        A. 9663                             2

          If this bill is enacted during the  2020  legislative  session,  there
        will  be  an immediate past service cost of approximately $303,000 which
        will be borne by the City of Buffalo as a one-time payment.  This  esti-
        mate is based on the assumption that payment will be made on February 1,
        2021.
          There  will  be no increase in the annual contributions of the City of
        Buffalo.
          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 January 22,  2020,  and  intended  for  use  only
        during  the  2020  Legislative  Session,  is  Fiscal  Note  No. 2020-35,
        prepared by the Actuary for the New  York  State  and  Local  Retirement
        System.