Bill Text: NY A10867 | 2019-2020 | General Assembly | Introduced


Bill Title: Authorizes Scott Berger to receive certain service credit under section 384-d of the retirement and social security law.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-07-24 - referred to governmental employees [A10867 Detail]

Download: New_York-2019-A10867-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          10867

                   IN ASSEMBLY

                                      July 24, 2020
                                       ___________

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

        AN ACT to authorize Scott Berger 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 to the contrary,
     2  Scott Berger, a member of the New York state and local police  and  fire
     3  retirement system, who was employed as a police officer with the village
     4  of  Frankfort, from May 5, 2000 through December, 2002, and who, through
     5  no fault of his own, failed to file a timely application to  participate
     6  in the special twenty-year retirement plan contained in section 384-d of
     7  the retirement and social security law resulting in the crediting of his
     8  service  with  the  village  of Frankfort in the general retirement plan
     9  contained in section 375-c of such law, shall be  granted  such  service
    10  credit under section 384-d of the retirement and social security law for
    11  his  period  of  employment  with  the  village of Frankfort, provided a
    12  request to that effect is filed with the state  comptroller  within  one
    13  year from the effective date of this act.
    14    §  2. All employer past service costs associated with implementing the
    15  provisions of this act shall be borne by the village  of  Frankfort  and
    16  may be amortized over a period of ten years.
    17    § 3. This act shall take effect immediately.
    18    FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
    19    This  bill  would  grant Scott Berger, a Tier 2 member of the New York
    20  State and Local Police and Fire Retirement  System,  additional  service
    21  creditable  under  the provisions of section 384-d together with section
    22  384-e of the Retirement and Social Security Law for  time  worked  as  a
    23  police officer with the Village of Frankfort between May 2000 and Decem-
    24  ber  2002.  Such  service  is  currently  creditable  only in the age 55
    25  retirement plan of section 375-c. Officer Berger is  currently  employed
    26  by the City of Utica and covered under 384-e.
    27    If  this  bill  is  enacted during the 2020 legislative session, there
    28  will be an immediate past service cost of  approximately  $36,000  which

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD16995-03-0

        A. 10867                            2

     1  will  be  borne  by the Village of Frankfort as a one-time payment. This
     2  estimate is based on the assumption that payment will be made on  Febru-
     3  ary  1,  2021.  If the Village of Frankfort elects to amortize this cost
     4  over  a  10  year period, the cost for the first year including interest
     5  would be $4,760.
     6    There will be no increase in the annual contributions of the  City  of
     7  Utica.
     8    Summary of relevant resources:
     9    The  membership  data  used  in  measuring  the impact of the proposed
    10  change was the same as that used in the March 31, 2019  actuarial  valu-
    11  ation.    Distributions  and  other  statistics can be found in the 2019
    12  Report of the  Actuary  and  the  2019  Comprehensive  Annual  Financial
    13  Report.
    14    The  actuarial assumptions and methods used are described in the 2015,
    15  2016, 2017, 2018, and 2019 Annual Report to the Comptroller on Actuarial
    16  Assumptions, and the Codes, Rules and Regulations of the  State  of  New
    17  York: Audit and Control.
    18    The Market Assets and GASB Disclosures are found in the March 31, 2019
    19  New  York  State  and  Local  Retirement System Financial Statements and
    20  Supplementary Information.
    21    I am a member of the American Academy of Actuaries and meet the Quali-
    22  fication Standards to render the actuarial opinion contained herein.
    23    This fiscal note does not constitute a legal opinion on the  viability
    24  of  the  proposed change nor is it intended to serve as a substitute for
    25  the professional judgment of an attorney.
    26    This estimate, dated July 21, 2020, and intended for use  only  during
    27  the  2020  Legislative Session, is Fiscal Note No. 2020-130, prepared by
    28  the Actuary for the New York State and Local Retirement System.
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