STATE OF NEW YORK
________________________________________________________________________
8072
2021-2022 Regular Sessions
IN ASSEMBLY
June 11, 2021
___________
Introduced by M. of A. GANDOLFO -- read once and referred to the Commit-
tee on Governmental Employees
AN ACT granting retroactive retirement membership in the New York state
teachers' retirement system to Eileen Saumell
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, Eileen Saumell
2 who is currently working at the West Babylon school district and a
3 member of the New York state teachers' retirement system, who was
4 employed as a full-time employee of the Nassau County Demonstration
5 Project, a non-participating employer of the New York state public
6 retirement systems, with a start date of August 8, 1994 until August 27,
7 2004, and at that time a member of the United Jewish Appeal-Federation
8 of Jewish Philanthropies of New York, Inc. Retirement Plan, could not
9 become a member of one of the New York state public retirement systems
10 on August 8, 1994, shall be granted service credit in the New York state
11 teachers' retirement system for her employment with the Nassau County
12 Demonstration Project for the period of August 8, 1994 until August 27,
13 2004, provided that an application is filed with the New York state
14 teachers' retirement system within one year from the effective date of
15 this act.
16 § 2. No contributions made to the United Jewish Appeal-Federation of
17 Jewish Philanthropies of New York, Inc. Retirement Plan by Eileen
18 Saumell shall be returned or refunded to her pursuant to this act.
19 § 3. All past service costs associated with the implementation of this
20 act shall be borne by Nassau County.
21 § 4. This act shall take effect immediately.
FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
This bill (legislative bill draft 10816-01-1) would allow Eileen
Saumell, an active member of the New York State Teachers' Retirement
System with Tier 4 status, to receive service credit for the period
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10816-02-1
A. 8072 2
August 8, 1994 until August 27, 2004 while she was employed with the
Nassau County Demonstration Project, a non-participating employer of the
New York State public retirement systems. During Ms. Saumell's employ-
ment with the Nassau County Demonstration Project, she was a member of
the United Jewish Appeal-Federation of Jewish Philanthropies of New
York, Inc. Retirement Plan and could not become a member of one of the
New York State public retirement systems. Contributions made to the
United Jewish Appeal-Federation of Jewish Philanthropies of New York,
Inc. Retirement Plan by Ms. Saumell shall not be returned or refunded to
her pursuant to this bill. Ms. Saumell must file a written request with
the head of the New York State Teachers' Retirement System within one
year of the effective date of this bill.
The cost of this benefit is equal to the increase in the present value
of liabilities, which is estimated to be $360,000. This cost would be
borne by the county of Nassau. Granting service credit under this bill
for employment with an organization that may potentially be considered a
non-governmental or private employer could jeopardize the System's
governmental plan status and its exemption from ERISA which could result
in the loss of qualified status. Loss of qualified status would mean the
loss of tax benefits. This result would substantially impair the
System's value to our approximately four hundred and thirty-four thou-
sand members. In addition, precluding a return or refund of contrib-
utions under her prior plan may create a conflict under the terms of
that plan.
Member data is from the System's most recent actuarial valuation
files, consisting of data provided by the employers to the Retirement
System. Data distributions and statistics can be found in the System's
Annual Report. System assets are as reported in the System's financial
statements and can also be found in the System's Annual Report. Actuar-
ial assumptions and methods are provided in the System's Actuarial Valu-
ation Report.
The source of this estimate is Fiscal Note 2021-48 dated June 3, 2021
prepared by the Actuary of the New York State Teachers' Retirement
System and is intended for use only during the 2021 Legislative Session.
I, Richard A. Young, am the Actuary for the New York State Teachers'
Retirement System. I am a member of the American Academy of Actuaries
and I meet the Qualification Standards of the American Academy of Actu-
aries to render the actuarial opinion contained herein.
