Grants retroactive tier IV membership in the New York state and local employees' retirement system to Joshua David Olsen, a current tier VI member who is employed by the NYS office for people with developmental disabilities.
STATE OF NEW YORK
________________________________________________________________________
9993
IN SENATE
April 21, 2026
___________
Introduced by Sen. FAHY -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
AN ACT granting retroactive tier IV membership in the New York state and
local employees' retirement system to Joshua David Olsen
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, Joshua David
2 Olsen, who is a member of the New York state and local employees'
3 retirement system with tier VI status, and who, from January 1, 1999
4 through December 31, 2001, and January 1, 2002 through May 21, 2003 was
5 employed part-time with the Schenectady city school district and SUNY
6 Albany, respectively, and who, since 2015 has been employed as a full-
7 time attorney by the New York state office for people with developmental
8 disabilities, and who, for reasons not ascribable to his own negligence,
9 failed to become a member of the New York state and local employees'
10 retirement system or the New York state teachers' retirement system in
11 1999 or 2002, shall be deemed to have joined such retirement system in
12 January 1, 1999, if he shall file an application therefor with the state
13 comptroller within one year of the effective date of this act. Upon
14 receipt of such application, Joshua David Olsen shall be granted tier IV
15 status in the New York state and local employees' retirement system and
16 shall be eligible for all the rights and benefits thereof.
17 § 2. All past service costs associated with implementing the
18 provisions of this act shall be borne by the state of New York, and
19 there shall be no refund of the members contributions to Joshua David
20 Olsen.
21 § 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 Joshua David Olsen, a current
Tier 6 member employed by the New York state office for people with
developmental disabilities, by changing their date of membership to
January 1, 1999, their date of first employment with the Schenectady
city school district.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14458-04-6
S. 9993 2
There will be no refund of member contributions.
We estimate that the state of New York's annual contributions will
increase $14,000 beginning FYE 2027. Annual costs will vary as the bill-
ing rates and salary of Joshua David Olsen change.
In addition, there will be an immediate past service cost of $78,000
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 April 15, 2026, and intended for use only during
the 2026 Legislative Session, is Fiscal Note Number 2026-85. 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.
