Bill Text: NY S05139 | 2013-2014 | General Assembly | Introduced
Bill Title: Grants up to 3 years service credit in the public retirement systems of the state for military service in hostilities from October 7, 2001 until the end of hostilities in Afghanistan.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2014-01-08 - REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS [S05139 Detail]
Download: New_York-2013-S05139-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
5139
2013-2014 Regular Sessions
I N S E N A T E
May 10, 2013
___________
Introduced by Sen. LITTLE -- read twice and ordered printed, and when
printed to be committed to the Committee on Veterans, Homeland Securi-
ty and Military Affairs
AN ACT to amend the retirement and social security law, in relation to
providing service credit to members of public retirement systems of
the state for certain military service in hostilities in Afghanistan
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Paragraphs (c) and (d) of subdivision 2 of section 1000 of
2 the retirement and social security law, as added by chapter 548 of the
3 laws of 2000, are amended and a new paragraph (e) is added to read as
4 follows:
5 (c) hostilities participated in by the military forces of the United
6 States in Panama, from the twentieth day of December, nineteen hundred
7 eighty-nine to the thirty-first day of January, nineteen hundred ninety,
8 as established by receipt of the armed forces expeditionary medal, the
9 navy expeditionary medal, or the marine corps expeditionary medal; [or]
10 (d) hostilities participated in by the military forces of the United
11 States, from the second day of August, nineteen hundred ninety, to the
12 end of such hostilities in case of a veteran who served in the theater
13 of operations including Iraq, Kuwait, Saudi Arabia, Bahrain, Qatar, the
14 United Arab Emirates, Oman, the Gulf of Aden, the Gulf of Oman, the
15 Persian Gulf, the Red Sea, and the airspace above these locations[.]; OR
16 (E) HOSTILITIES PARTICIPATED IN BY THE MILITARY FORCES OF THE UNITED
17 STATES IN AFGHANISTAN, FROM THE SEVENTH DAY OF OCTOBER, TWO THOUSAND
18 ONE, TO THE END OF SUCH HOSTILITIES, AS ESTABLISHED BY RECEIPT OF THE
19 ARMED FORCES EXPEDITIONARY MEDAL, THE NAVY EXPEDITIONARY MEDAL OR THE
20 MARINE CORPS EXPEDITIONARY MEDAL.
21 S 2. This act shall take effect immediately.
FISCAL NOTE.--This bill would extend the benefits of Chapter 548, Laws
of 2000 to members of public retirement systems in New York State who
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10735-03-3
S. 5139 2
rendered military service in Afghanistan from 10/7/2001 to the end of
hostilities and were assigned to the theater of operations. The total
service credit granted for any military service shall not exceed three
(3) years. Members must have at least five years of credited service
(not including military service). Tier 1-5 members would be required to
make a payment of three percent of their most recent compensation per
year of additional service credit granted by this bill. Tier 6 members
would be required to make a payment of six percent of their most recent
compensation per year of additional service credit.
If this bill is enacted, insofar as this proposal affects the New York
State and Local Employees' Retirement System (ERS), it is estimated that
the past service cost will average approximately 12% (9% for Tier 6) of
an affected members' compensation for each year of additional service
credit that is purchased.
Insofar as this proposal affects the New York State and Local Police
and Fire Retirement System (PFRS), it is estimated that the past service
cost will average approximately 17% (14% for Tier 6) of an affected
members' compensation for each year of additional service that is
purchased.
The exact number of current members as well as future members who
could be affected by this legislation cannot be readily determined.
ERS Costs: Pursuant to Section 25 of the Retirement and Social Securi-
ty Law, the increased cost to the New York State and Local Employees'
Retirement System would be borne entirely by the State of New York and
would require an itemized appropriation sufficient to pay the cost of
the provision. Since a member can apply for this service credit at any
time prior to retirement, a precise cost can't be determined until each
member, as well as future members, applies for the service credit. Every
year a cost will be determined (and billed to the state) based on those
benefiting from this provision.
PFRS Costs: These costs would be shared by the State of New York and
the participating employers in the PFRS.
Summary of relevant resources:
Data: March 31, 2012 Actuarial Year End File with distributions of
membership and other statistics displayed in the 2012 Report of the
Actuary and 2012 Comprehensive Annual Financial Report.
Assumptions and Methods: 2010, 2011 and 2012 Annual Report to the
Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the
State of New York: Audit and Control.
Market Assets and GASB Disclosures: March 31, 2012 New York State and
Local Retirement System Financial Statements and Supplementary Informa-
tion.
Valuations of Benefit Liabilities and Actuarial Assets: summarized in
the 2012 Actuarial Valuations report.
I am a member of the American Academy of Actuaries and meet the Quali-
fication Standards to render the actuarial opinion contained herein.
This estimate, dated May 9, 2013 and intended for use only during the
2013 Legislative Session, is Fiscal Note No. 2013-147, prepared by the
Actuary for the New York State and Local Employees' Retirement System
and the New York State and Local Police and Fire Retirement System.
