Authorizes Michael J. Cappiello to purchase service credit for service with the Long Island Railroad Company police department prior to its merger with the MTA and the state retirement system.
STATE OF NEW YORK
________________________________________________________________________
7340--A
2025-2026 Regular Sessions
IN SENATE
April 10, 2025
___________
Introduced by Sen. WEIK -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
-- recommitted to the Committee on Civil Service and Pensions in
accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee
AN ACT authorizing Michael J. Cappiello to purchase service credit for
service with the Long Island Railroad Company police department
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, Michael J.
2 Cappiello, a former member of the Long Island Railroad Company police
3 department, shall be eligible to apply to purchase up to three years of
4 service credit for such employment with the New York state and local
5 police and fire retirement system if, within one year of the effective
6 date of this act, he shall (1) file a written request to that effect
7 with such retirement system; and (2) shall pay to the New York state and
8 local police and fire retirement system a sum equal to the product of
9 the number of years of service being claimed and three percent of such
10 member's compensation earned during the twelve months of credited
11 service immediately preceding the date that the member made application
12 for credit pursuant to this section.
13 § 2. All past service costs attributable to the implementation of this
14 act shall be borne by the state of New York.
15 § 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would allow Michael J. Cappiello, a current member of the
New York State and Local Police and Fire Retirement System (NYSLPFRS)
employed by Suffolk county, to purchase up to three years of service
credit for employment as a police officer with the Long Island Railroad
Company.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04566-04-6
S. 7340--A 2
This bill will not increase Suffolk county's annual contributions.
There will be an immediate past service cost of $100,000. Of this
amount, approximately $13,900 will be borne by the member and the
remaining $86,100 will borne by the state of New York as a one-time
payment. This cost assumes that payment will be made on March 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 17, 2026, and intended for use only during
the 2026 Legislative Session, is Fiscal Note Number 2026-142. 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.
