STATE OF NEW YORK
________________________________________________________________________
6383
2021-2022 Regular Sessions
IN ASSEMBLY
March 16, 2021
___________
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 would grant service credit under section 384-d of the
Retirement 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 offi-
cer with the Village of Gowanda.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04215-02-1
A. 6383 2
If this bill is enacted during the 2021 legislative session, there
will be an immediate past service cost of approximately $77,100 which
will be borne by the Village of Gowanda as a one-time payment. This
estimate is based on the assumption that payment will be made on Febru-
ary 1, 2022.
There will be no increase in the annual contributions of the Village
of Gowanda.
Summary of relevant resources:
Membership data as of March 31, 2020 was used in measuring the impact
of the proposed change, the same data used in the April 1, 2020 actuari-
al valuation. Distributions and other statistics can be found in the
2020 Report of the Actuary and the 2020 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2020
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, 2020
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 29, 2021, and intended for use only
during the 2021 Legislative Session, is Fiscal Note No. 2021-37,
prepared by the Actuary for the New York State and Local Retirement
System.
