A05135 Summary:

BILL NOA05135B
 
SAME ASSAME AS S02231-B
 
SPONSORStec
 
COSPNSR
 
MLTSPNSR
 
 
Authorizes Jaime Laczko to elect to participate in the optional 25 year retirement plan for forest rangers in the service of the department of environmental conservation.
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A05135 Actions:

BILL NOA05135B
 
02/12/2015referred to governmental employees
06/12/2015amend and recommit to governmental employees
06/12/2015print number 5135a
01/06/2016referred to governmental employees
02/10/2016amend and recommit to governmental employees
02/10/2016print number 5135b
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A05135 Committee Votes:

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A05135 Floor Votes:

There are no votes for this bill in this legislative session.
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A05135 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         5135--B
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 12, 2015
                                       ___________
 
        Introduced  by  M. of A. STEC -- read once and referred to the Committee
          on Governmental  Employees  --  committee  discharged,  bill  amended,
          ordered  reprinted  as  amended  and  recommitted to said committee --
          recommitted to the Committee on Governmental Employees  in  accordance
          with  Assembly  Rule  3, sec. 2 -- committee discharged, bill amended,
          ordered reprinted as amended and recommitted to said committee
 
        AN ACT to authorize Jaime Laczko to elect to participate in the optional
          twenty-five year retirement plan for forest rangers in the service  of
          the department of environmental conservation
 
          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, Jaime Laczko, a
     2  member of the New York  state  and  local  police  and  fire  retirement
     3  system,  who is employed by the department of environmental conservation
     4  as a full-time forest ranger I,  who  upon  commencing  such  employment
     5  became  a  member of such retirement system subject to the provisions of
     6  section 375-h of the retirement and social security law, who was  eligi-
     7  ble,  at such time, to elect to join the New York state and local police
     8  and fire retirement system subject  to  the  optional  twenty-five  year
     9  retirement  plan  for forest rangers in the service of the department of
    10  environmental conservation pursuant to section 383-c of  the  retirement
    11  and  social security law, and who, for reasons not ascribable to his own
    12  negligence, failed to elect to  participate  in  such  twenty-five  year
    13  retirement  plan,  shall be deemed to have elected to participate in the
    14  retirement plan, established by section  383-c  of  the  retirement  and
    15  social  security  law,  upon  commencement of his employment as a forest
    16  ranger I, if, within 1 year of the effective date of this act, he  shall
    17  file an application therefor with the state comptroller.
    18    §  2.  All  past  costs associated with implementing the provisions of
    19  this act shall be borne by the state of New York.
    20    § 3. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06420-07-6

        A. 5135--B                          2
 
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  will  deem Jaime Laczko, a Forest Ranger currently covered
        under an age 55 retirement plan, to have elected to participate  in  the
        25  year  retirement plan established by Section 383-c of the Retirement
        and Social Security Law.
          If this bill is enacted, we anticipate that there will be an  increase
        of  approximately $4,440 in the annual contributions of the State of New
        York for the fiscal year ending March 31, 2017. In  future  years,  this
        cost will vary as the billing rates and salary of Jaime Laczko change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service cost of $100,800 which will be borne by the
        State of New York as one-time payment. This estimate  is  based  on  the
        assumption that payment will be made on March 1, 2017.
          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, 2015  actuarial  valu-
        ation.    Distributions  and  other  statistics can be found in the 2015
        Report of the  Actuary  and  the  2015  Comprehensive  Annual  Financial
        Report.
          The  actuarial  assumptions and methods used are described in the 2015
        Annual Report to the Comptroller on Actuarial Assumptions, and the Codes
        Rules and Regulations of the State of New York: Audit Control.
          The Market Assets and GASB Disclosures are found in the March 31, 2015
        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 estimate, dated January 21, 2016 and intended for use only during
        the  2016  Legislative  Session, is Fiscal Note No. 2016-39, prepared by
        the Actuary for the New York State and Local Retirement System.
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