Bill Text: NY S04366 | 2019-2020 | General Assembly | Amended

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Bill Title: Relates to granting retroactive tier IV membership in the NY state and local employees' retirement system for Rebecca Leonard.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-23 - PRINT NUMBER 4366A [S04366 Detail]

Download: New_York-2019-S04366-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         4366--A

                               2019-2020 Regular Sessions

                    IN SENATE

                                     March 11, 2019
                                       ___________

        Introduced  by Sen. GAUGHRAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions
          -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
          accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee

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

          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,  Rebecca
     2  Leonard,  formerly  Rebecca  Abensur, a member of the New York state and
     3  local employees' retirement system, who was employed in  November  2007,
     4  by Half Hollow Hills Central School District, who did not file a member-
     5  ship application in such system until 2010, which gave her Tier V status
     6  instead  of  Tier  IV  status, where she would have been had she filed a
     7  membership application when she became a permanent employee in  November
     8  2007  may  be  deemed  to have become a member of the New York state and
     9  local employees' retirement system in November 2007 if, within one  year
    10  of  the  effective date of this act, she shall file with the state comp-
    11  troller a written request to that effect.  Upon  the  granting  of  such
    12  retroactive membership, Rebecca Leonard shall not be granted a refund of
    13  any  employee  contribution  made by her to the New York state and local
    14  employees' retirement system.
    15    § 2. All past service costs associated with the implementation of this
    16  act shall be borne by the county of Nassau.
    17    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill will grant Tier 4 status in the New  York  State  and  Local
        Employees' Retirement System to Rebecca Leonard, a current Tier 5 member
        employed  by Nassau County, by changing her date of membership to Novem-

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07966-03-0
        S. 4366--A                          2

        ber 2007, her first date  of  employment  with  the  Half  Hollow  Hills
        Central  School  District.  There  will  be no refund of member contrib-
        utions.
          If this legislation is enacted during the 2020 legislative session, we
        anticipate that there will be an increase of approximately $2,400 in the
        annual  contributions  of Nassau County for the fiscal year ending March
        31, 2021. In future years, this cost will vary as the billing rates  and
        salary of Rebecca Leonard change.
          In addition to the annual contributions discussed above, there will be
        an  immediate past service cost of $16,100 which will be borne by Nassau
        County 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  January  22,  2020,  and intended for use only
        during the  2020  Legislative  Session,  is  Fiscal  Note  No.  2020-23,
        prepared  by  the  Actuary  for  the New York State and Local Retirement
        System.