STATE OF NEW YORK
________________________________________________________________________
6670
2021-2022 Regular Sessions
IN ASSEMBLY
March 25, 2021
___________
Introduced by M. of A. GUNTHER -- read once and referred to the Commit-
tee 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 VI 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 2021 legislative session, we antic-
ipate that there will be an increase of approximately $7,000 in the
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03501-03-1
A. 6670 2
annual contributions of Mohawk Valley Psychiatric Center for the fiscal
year ending March 31, 2022. In future years, this cost will vary as the
billing rates and salary of David Goodman change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $9,010 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, 2022.
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 March 5, 2021, and intended for use only during
the 2021 Legislative Session, is Fiscal Note No. 2021-83, prepared by
the Actuary for the New York State and Local Retirement System.