Relates to the calculation of past service credit for members in the title of deputy sheriff who provided police protection or correction officer service transferring between the New York state and local employees' retirement system to the New York state and local police and fire retirement system.
STATE OF NEW YORK
________________________________________________________________________
5231--B
2023-2024 Regular Sessions
IN ASSEMBLY
March 7, 2023
___________
Introduced by M. of A. PHEFFER AMATO, LUNSFORD, WOERNER, McDONALD,
DURSO, BRABENEC, SLATER, SANTABARBARA -- read once and referred to the
Committee 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 -- again reported from said committee
with amendments, ordered reprinted as amended and recommitted to said
committee
AN ACT to amend the retirement and social security law, in relation to
the calculation of past service credit for members in the title of
deputy sheriff transferring between the New York state and local
employees' retirement system to the New York state and local police
and fire retirement system
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 43 of the retirement and social security law is
2 amended by adding a new subdivision m to read as follows:
3 m. 1. Notwithstanding any other law, rule or regulation to the contra-
4 ry, any member in the title of deputy sheriff who provided police
5 protection or correction officer service transferring from the New York
6 state and local employees' retirement system to the New York state and
7 local police and fire retirement system after the effective date of this
8 subdivision and any member previously in the title of deputy sheriff who
9 provided police protection or correction office service having made such
10 transfer shall be entitled to a determination of the amount of service
11 credit that is eligible on a twenty year or twenty-five year retirement
12 plan if, within one year of the date on which such deputy sheriff first
13 became a member of the New York state and local police and fire retire-
14 ment system or within one year of the effective date of this subdivi-
15 sion, such member elects to do so. If the member subsequently transfers
16 back to the New York state and local employees' retirement system, the
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07037-10-4
A. 5231--B 2
1 full amount of service credit earned while in the title of deputy sher-
2 iff who provided police protection or correction officer service shall
3 be transferred back to the New York state and local employees' retire-
4 ment system.
5 2. The calculation of the amount of such service credit for a member
6 will be determined by multiplying the eligible service credited while in
7 the title of deputy sheriff who provided police protection or correction
8 officer service in the New York state and local employees' retirement
9 system plan by a salary multiplier, reflecting the rate of salary in the
10 New York state and local employees' retirement system plan relative to
11 the rate of salary in the New York state and local police and fire
12 retirement system plan, and a billing rate multiplier, reflecting the
13 actuarial long-term average billing rate in the New York state and local
14 employees' retirement system plan relative to the actuarial long-term
15 average billing rate in the New York state and local police and fire
16 retirement system plan. The determination of the salary multiplier and
17 billing rate multiplier will be determined by the actuary of the New
18 York state and local employees' retirement system and the New York state
19 and local police and fire retirement system. The amount of such service
20 credited to the member in the New York state and local police and fire
21 retirement system plan shall not exceed the amount of service credited
22 to the member while in the title of deputy sheriff who provided police
23 protection or correction officer service in the New York state and local
24 employees' retirement system plan.
25 § 2. Section 343 of the retirement and social security law is amended
26 by adding a new subdivision i to read as follows:
27 i. 1. Notwithstanding any other law, rule or regulation to the contra-
28 ry, any member in the title of deputy sheriff who provided police
29 protection or correction officer service transferring from the New York
30 state and local employees' retirement system to the New York state and
31 local police and fire retirement system after the effective date of this
32 subdivision and any member previously in the title of deputy sheriff who
33 provided police protection or correction officer service having made
34 such transfer shall be entitled to a determination of the amount of
35 service credit that is eligible on a twenty year or twenty-five year
36 retirement plan if, within one year of the date on which such deputy
37 sheriff first became a member of the New York state and local police and
38 fire retirement system or within one year of the effective date of this
39 subdivision, such member elects to do so. If the member subsequently
40 transfers back to the New York state and local employees' retirement
41 system, the full amount of service credit earned while in the title of
42 deputy sheriff who provided police protection or correction officer
43 service shall be transferred back to the New York state and local
44 employees' retirement system.
45 2. The calculation of the amount of such service credit for a member
46 will be determined by multiplying the eligible service credited while in
47 the title of deputy sheriff who provided police protection or correction
48 officer service in the New York state and local employees' retirement
49 system plan by a salary multiplier, reflecting the rate of salary in the
50 New York state and local employees' retirement system plan relative to
51 the rate of salary in the New York state and local police and fire
52 retirement system plan, and a billing rate multiplier, reflecting the
53 actuarial long-term average billing rate in the New York state and local
54 employees' retirement system plan relative to the actuarial long-term
55 average billing rate in the New York state and local police and fire
56 retirement system plan. The determination of the salary multiplier and
A. 5231--B 3
1 billing rate multiplier will be determined by the actuary of the New
2 York state and local employees' retirement system and the New York state
3 and local police and fire retirement system. The amount of such service
4 credited to the member in the New York state and local police and fire
5 retirement system plan shall not exceed the amount of service credited
6 to the member while in the title of deputy sheriff who provided police
7 protection or correction officer service in the New York state and local
8 employees' retirement system plan.
9 3. If such member subsequently retires on an age based retirement plan
10 in the New York state and local police and fire retirement system
11 instead of a twenty year or twenty-five year plan, the full amount of
12 service credit earned while in the title of deputy sheriff shall be
13 granted.
14 4. No member who receives service credit pursuant to this subdivision
15 shall be eligible to receive additional service credit pursuant to
16 subdivision b of section three hundred eighty-four-e of this article if
17 such deputy sheriff's employer has elected to provide such service cred-
18 it.
19 § 3. This act shall take effect on the sixtieth day after it shall
20 have become a law.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would expand the definition of creditable service under
twenty-year and twenty-five year retirement plans in the New York State
and Local Police and Fire Retirement System (NYSLPFRS) to include
service credit earned in the New York State and Local Employees' Retire-
ment System (NYSLERS) for those individuals previously employed in the
title of Deputy Sheriff and who provided police protection or correction
officer service. To be eligible, an individual must be a member of the
NYSLPFRS and must elect to transfer the NYSLERS service credit to the
NYSLPFRS within twelve months of first joining the NYSLPFRS, or within
twelve months of the effective date of this bill, whichever is later.
The amount of service credit granted in the NYSLPFRS will be calculated
by the Actuary of the New York State and Local Retirement System based
on deputy sheriff service credited and the rate of salary earned in the
NYSLERS and will not exceed the service credited under the NYSLERS plan.
Insofar as this bill affects the NYSLPFRS, if enacted during the 2024
Legislative Session, it is estimated that the past service cost will
average approximately 21 percent of an affected member's compensation
for each year of additional service credit that is granted.
All costs will be shared by the State of New York and the local
participating employers in the NYSLPFRS.
Summary of relevant resources:
Membership data as of March 31, 2023 was used in measuring the impact
of the proposed change, the same data used in the April 1, 2023 actuari-
al valuation. Distributions and other statistics can be found in the
2023 Report of the Actuary and the 2023 Annual Comprehensive Financial
Report.
The actuarial assumptions and methods used are described in the 2023
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, 2023
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.
A. 5231--B 4
This fiscal note does not constitute a legal opinion on the viability
of the proposed change nor is it intended to serve as a substitute for
the professional judgment of an attorney.
This estimate, dated April 12, 2024, and intended for use only during
the 2024 Legislative Session, is Fiscal Note No. 2024-155, prepared by
the Actuary for the New York State and Local Retirement System.
