STATE OF NEW YORK
________________________________________________________________________
5819
2015-2016 Regular Sessions
IN ASSEMBLY
March 5, 2015
___________
Introduced by M. of A. PAULIN -- read once and referred to the Committee
on Governmental Employees
AN ACT to authorize Christopher Ryan to apply for retroactive membership
in the New York state and local police retirement system
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Notwithstanding any inconsistent provisions of law, the
2 fire district of Eastchester in the town of Eastchester, county of West-
3 chester, a participating employer in the New York state and local police
4 and fire retirement system, which has elected to offer the optional
5 twenty year retirement plan, established pursuant to section 384-d
6 together with section 384-e of the retirement and social security law,
7 to firefighters employed by such town, is hereby authorized to make
8 retroactive membership in such plan available to Christopher Ryan, a
9 firefighter with the Eastchester fire district, employed by the East-
10 chester fire district, who, for reasons not ascribable to his own negli-
11 gence failed to make a timely application to participate in such
12 optional twenty year retirement plan and the additional pension benefits
13 therefor. The Eastchester fire district may so elect by filing with the
14 state comptroller, on or before December 31, 2015, a resolution of its
15 governing body together with certification that such firefighter did not
16 bar himself from participation in such retirement plan as a result of
17 his own negligence. Thereafter, such firefighter may elect to be covered
18 by the provisions of section 384-d together with section 384-e of the
19 retirement and social security law, and shall be entitled to the full
20 rights and benefits associated with coverage under such section, by
21 filing a request to that effect with the state comptroller on or before
22 June 30, 2016.
23 § 2. Any past service costs incurred by operation of the provision of
24 this act shall be borne by the Eastchester fire district.
25 § 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08520-03-5
A. 5819 2
FISCAL NOTE--Pursuant to Legislative Law, Section 50:
This bill will allow the Eastchester fire district to elect to reopen
the provisions of Section 384-d together with Section 384-e of the
Retirement and Social Security Law for firefighter Christopher Ryan.
If this bill is enacted and Christopher Ryan becomes covered under the
provisions of Section 384-d together with Section 384-e, we anticipate
that there will be an increase of approximately $9,150 in the annual
contributions of the Eastchester fire district for the fiscal year
ending March 31, 2016. In future years, this cost will vary as the bill-
ing rates and salary of Christopher Ryan change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $93,100 which would be
borne by the Eastchester fire district as a one-time payment. This esti-
mate is based on the assumption that payment will be made on February 1,
2016.
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, 2014 actuarial valu-
ation. Distributions and other statistics can be found in the 2014
Report of the Actuary and the 2014 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2010,
2011, 2012, 2013 and 2014 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, 2014
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 February 13, 2015, and intended for use only
during the 2015 Legislative Session, is Fiscal Note No. 2015-66,
prepared by the Actuary for the New York State and Local Police and Fire
Retirement System.
