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A08323 Summary:

BILL NOA08323A
 
SAME ASNo Same As
 
SPONSORGandolfo
 
COSPNSR
 
MLTSPNSR
 
 
Grants retroactive membership with Tier IV status in the New York state and local employees' retirement system to Brian Landers, for his employment with the village of Lindenhurst which commenced June 19, 2006.
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A08323 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8323--A
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 13, 2025
                                       ___________
 
        Introduced by M. of A. GANDOLFO -- read once and referred to the Commit-
          tee  on  Governmental  Employees  --  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 granting retroactive membership with Tier IV status  in  the  New
          York state and local employees' retirement system to Brian Landers
 
          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  Brian Landers, a tier VI member of the New York state and local  employ-
     3  ees'  retirement  system  employed  by the village of Lindenhurst with a
     4  start date of June 19, 2006, and who is currently a member  of  the  New
     5  York  state and local employees' retirement system, who through no fault
     6  of his own did not become a member of  the  New  York  state  and  local
     7  employees' retirement system on June 19, 2006 when first employed by the
     8  village of Lindenhurst, shall be deemed to have been a member of the New
     9  York  state  and  local  employees'  retirement  system  on such date he
    10  commenced his employment and shall be granted Tier IV  status,  provided
    11  that  an  application  is  filed with the head of the New York state and
    12  local employees' retirement system within one year  from  the  effective
    13  date  of  this  act.  Upon  the granting of such retroactive membership,
    14  Brian Landers shall not be granted a refund of any employee contribution
    15  made by him to the  New  York  state  and  local  employees'  retirement
    16  system.
    17    § 2. All past service costs of implementing the provisions of this act
    18  shall be borne by the village of Lindenhurst.
    19    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  grant Tier 4 status in the New York State and Local
        Employees' Retirement System (NYSLERS) to Brian Landers, a current  Tier
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11573-03-6

        A. 8323--A                          2
 
        6  member employed by Huntington Union Free School District, by changing
        their date of membership to June 19, 2006. There will be  no  refund  of
        member contributions.
          We  estimate  that  the  village of Lindenhurst's annual contributions
        will increase $13,000 beginning FYE 2027. Annual costs will vary as  the
        billing rates and salary of Brian Landers change.
          In  addition, there will be an immediate past service cost of $114,000
        borne by the village of Lindenhurst as a  one-time  payment.  This  cost
        assumes that payment will be made on February 1, 2027.
          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 10, 2026, and intended for use only during
        the 2026 Legislative Session, is Fiscal Note Number 2026-141.  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.
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