Authorizes the transfer of memberships for certain members of the New York state and local police and fire retirement system who previously held a membership with the New York state and local employees' retirement system back to such retirement system.
STATE OF NEW YORK
________________________________________________________________________
10847
IN ASSEMBLY
April 6, 2026
___________
Introduced by M. of A. GRIFFIN -- read once and referred to the Commit-
tee on Governmental Employees
AN ACT to amend the retirement and social security law, in relation to
authorizing the transfer of memberships for certain members of the New
York state and local police and fire retirement system to the New York
state and local employees' retirement system
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 384-d of the retirement and social security law is
2 amended by adding a new subdivision z to read as follows:
3 z. Any member currently enrolled pursuant to this section and who
4 previously had a membership with the New York state and local employees'
5 retirement system may elect to retroactively transfer their membership
6 in the New York state and local police and fire retirement system to the
7 New York state and local employees' retirement system.
8 § 2. Notwithstanding any other provision of law to the contrary, none
9 of the provisions of this act shall be subject to section 25 of the
10 retirement and social security law.
11 § 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would allow active members of the New York State and Local
Police and Fire Retirement System (NYSLPFRS) to retroactively transfer
all service credit to prior membership in the New York State and Local
Employees' Retirement System (NYSLERS). To transfer, the member must be
covered by section 384-d of the retirement and social security law
(RSSL). Active membership in NYSLERS is not required.
Insofar as this bill affects NYSLERS, the cost will depend upon the
applicant's age, service, salary, plan, and any benefit type otherwise
payable.
The provisions of section 25 of the RSSL shall not apply. All costs
will be shared by the state of New York and all participating employers
in NYSLERS and spread over future billing cycles.
We anticipate additional administrative costs to implement the
provisions of this legislation.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08487-03-6
A. 10847 2
The number of members who could be affected by this legislation cannot
be readily determined. There are approximately 26,000 active members
under RSSL section 384-d as of March 31, 2025.
Summary of relevant resources:
Membership data as of March 31, 2025 was used to measure the impact of
the bill, the same data used in the Actuarial Valuations dated April 1,
2025. Distributions and other statistics can be found in the 2025 Report
of the Actuary and the 2025 Annual Comprehensive Financial Report. The
actuarial assumptions and methods used are described in the 2025 Annual
Report to the Comptroller on Actuarial Assumptions, and the Codes, Rules
and Regulations of the State of New York: Audit and Control. The fair
value of assets and GASB disclosures can be found in the 2025 Financial
Statements and Supplementary Information.
Assumptions, demographics, and other considerations may have been
modified to better reflect specific provisions of any proposed benefit
change(s).
This fiscal note does not constitute a legal opinion on the viability
of the bill, nor is it intended to serve as a substitute for the profes-
sional judgment of an attorney.
This estimate, dated March 27, 2026, and intended for use only during
the 2026 Legislative Session, is Fiscal Note Number 2026-138. As Chief
Actuary of the New York State and Local Retirement System (NYSLRS), I,
Aaron Schottin Young, hereby certify that this analysis complies with
applicable Actuarial Standards of Practice as well as the Code of
Professional Conduct and Qualification Standards for Actuaries Issuing
Statements of Actuarial Opinion of the American Academy of Actuaries, of
which I am a member. I am a member of NYSLRS but do not believe it
impairs my objectivity.
