Bill Text: NY A10279 | 2019-2020 | General Assembly | Introduced

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Bill Title: Authorizes Jason M. Schiedel to receive certain credit under section 384-d of the retirement and social security law.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-04-08 - referred to governmental employees [A10279 Detail]

Download: New_York-2019-A10279-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10279

                   IN ASSEMBLY

                                      April 8, 2020
                                       ___________

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

        AN ACT to authorize Jason M. Schiedel to receive  certain  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 to the contrary,
     2  Jason M. Schiedel, a member of the New York state and local  police  and
     3  fire retirement system covered under section 384-d of the retirement and
     4  social  security  law, who for the period beginning February 1, 1995 and
     5  ending February 28, 2003, was intermittently employed as a police  offi-
     6  cer  with the village of Gowanda, and who, for reasons not ascribable to
     7  his own negligence, was not granted service credit under  section  384-d
     8  of  the retirement and social security law for such period of employment
     9  with the village of Gowanda, shall be granted such service credit  under
    10  section  384-d  of  the  retirement and social security law and shall be
    11  entitled to the full rights and benefits associated with coverage  under
    12  such  section  as  well  as  section  384-e of such law, provided that a
    13  request to that effect is filed with the state  comptroller  within  one
    14  year from the effective date of this act.
    15    § 2. All past service costs incurred in implementing the provisions of
    16  this act shall be borne by the village of Gowanda.
    17    § 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 of the Retire-
        ment  and  Social Security Law to Jason M. Schiedel, a current member of
        the New York State and Local Police and Fire Retirement  System  (PFRS),
        for  the period beginning February 1, 1995 and ending February 28, 2003,
        during which he was intermittently employed as a police officer with the
        Village of Gowanda.
          If this bill is enacted during the  2020  legislative  session,  there
        will  be  an  immediate past service cost of approximately $45,800 which
        will be borne by the Village of Gowanda  as  a  one-time  payment.  This

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14903-04-0
        A. 10279                            2

        estimate  is based on the assumption that payment will be made on Febru-
        ary 1, 2021.
          There  will  be no increase in the annual contributions of the Village
        of Gowanda.
          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  February  24,  2020, and intended for use only
        during the  2020  Legislative  Session,  is  Fiscal  Note  No.  2020-51,
        prepared  by  the  Actuary  for  the New York State and Local Retirement
        System.