Bill Text: NY A10811 | 2019-2020 | General Assembly | Introduced

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Bill Title: Authorizes David Goodman to apply for retroactive membership in the New York state and local employees' retirement system.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-07-15 - referred to governmental employees [A10811 Detail]

Download: New_York-2019-A10811-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10811

                   IN ASSEMBLY

                                      July 15, 2020
                                       ___________

        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Gunther) --
          read once and referred to the Committee on Governmental Employees

        AN ACT granting retroactive tier IV membership in the New York state and
          local employees' retirement system to David Goodman

          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  David  Goodman,  a  member  of  the  New York state and local employees'
     3  retirement system, who on November 24, 2009 commenced part time  employ-
     4  ment  with  the  town  of  Marcy, and who applied for membership in such
     5  retirement system on December 2, 2009, and who, for reasons not ascriba-
     6  ble to his own negligence, failed to become a member  of  the  New  York
     7  state  and  local  employees'  retirement system on December 2, 2009 and
     8  therefore has tier V instead of tier IV status, shall be deemed to  have
     9  joined  such retirement system on November 24, 2009, the commencement of
    10  his employment with the town of Marcy, if within one year of the  effec-
    11  tive  date  of  this  act he shall file an application therefor with the
    12  state comptroller. Upon receipt of such application, David Goodman shall
    13  be deemed to have joined the New York state and local employees' retire-
    14  ment system on November 24, 2009.
    15    § 2. All past service costs of implementing the provisions of this act
    16  shall be borne by the town of Marcy, and there shall  be  no  refund  of
    17  member contributions to David Goodman.
    18    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill would allow David Goodman, currently a Tier 6 member of the
        New York State and Local Employees' Retirement  System,  to  elect  into
        Tier  4  by  changing his date of membership to November 24, 2009. There
        will be no refund of member contributions.
          If this bill is enacted during the 2020 legislative session, we antic-
        ipate that there will be an increase  of  approximately  $5,500  in  the
        annual  contributions  of  the  Mohawk Valley Psychiatric Center for the
        fiscal year ending March 31, 2021. In future years, this cost will  vary
        as the billing rates and salary of David Goodman change.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15820-03-0
        A. 10811                            2

          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service cost of approximately $46,800 which will be
        borne by the Town of Marcy as a one-time payment. This estimate is based
        on the assumption that payment will be made on February 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 June 23, 2020, and intended for use  only  during
        the  2020  Legislative Session, is Fiscal Note No. 2020-124, prepared by
        the Actuary for the New York State and Local Retirement System.