STATE OF NEW YORK
________________________________________________________________________
5715
2023-2024 Regular Sessions
IN ASSEMBLY
March 22, 2023
___________
Introduced by M. of A. PHEFFER AMATO -- read once and referred to the
Committee on Governmental Employees
AN ACT to amend the parks, recreation and historic preservation law, in
relation to increasing the mandatory retirement age of New York state
regional park police
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 4 of section 13.17 of the parks, recreation and
2 historic preservation law, as amended by chapter 662 of the laws of
3 1972, is amended to read as follows:
4 4. Any member appointed on or after April first, nineteen hundred
5 sixty-five shall be separated from such service upon attaining [sixty-
6 two] sixty-five years of age.
7 § 2. This act shall take effect immediately.
8 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would increase the mandatory retirement age from 62 to 65
for members of the New York State and Local Police and Fire Retirement
System (NYSLPFRS) covered under the provisions of section 383-a of the
Retirement and Social Security Law.
If this bill is enacted during the 2023 legislative session, there
would be additional benefits for certain members who remain employed
beyond age 62 which would be funded by the normal employer contrib-
utions. If members delay retirement due to the enactment of this bill,
we do not anticipate any increases in the annual contribution rates for
any of the participating employers in the NYSLPFRS.
Summary of relevant resources:
Membership data as of March 31, 2022 was used in measuring the impact
of the proposed change, the same data used in the April 1, 2022 actuari-
al valuation. Distributions and other statistics can be found in the
2022 Report of the Actuary and the 2022 Annual Comprehensive Financial
Report.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08529-02-3
A. 5715 2
The actuarial assumptions and methods used are described in the 2020,
2021, and 2022 Annual Report to the Comptroller on Actuarial Assump-
tions, 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, 2022
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.
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 March 13, 2023, and intended for use only during
the 2023 Legislative Session, is Fiscal Note No. 2023-109, prepared by
the Actuary for the New York State and Local Retirement System.
