New York State Assembly

 
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A08402 Summary:

A08402 Actions:

A08402 Committee Votes:

Committee:GOVERNMENTAL EMPLOYEES   Chair:Abbate      
DATE:06/05/2018AYE/NAY:14/0  Action: Favorable refer to committee Ways and Means        
Abbate
Aye
Malliotakis
Aye
Aubry
Aye
Johns
Aye
Colton
Aye
Palumbo
Aye
Cusick
Aye
Crouch
Aye
Zebrowski
Aye
DenDekker
Aye
Santabarbara
Aye
Brindisi
Aye
D'Urso
Aye
Pheffer Amato
Aye

Committee:WAYS AND MEANS   Chair:Weinstein      
DATE:06/07/2018AYE/NAY:31/1  Action: Favorable refer to committee Rules        
Weinstein
Aye
Oaks
Aye
Lentol
Aye
Crouch
Aye
Schimminger
Aye
Barclay
Aye
Gantt
Excused
Fitzpatrick
Nay
Glick
Aye
Hawley
Aye
Nolan
Aye
Malliotakis
Aye
Pretlow
Aye
Walter
Aye
Perry
Aye
Montesano
Aye
Colton
Aye
Curran
Aye
Cook
Aye
Ra
Aye
Cahill
Aye
Aubry
Aye
Hooper
Aye
Thiele
Aye
Cusick
Aye
Ortiz
Aye
Benedetto
Aye
Weprin
Excused
Rodriguez
Aye
Ramos
Aye
Braunstein
Aye
McDonald
Excused
Rozic
Aye
Peoples-Stokes
Aye
Simotas
Aye

Committee:RULES   Chair:Heastie      
DATE:06/13/2018AYE/NAY:29/0  Action: Favorable         
Heastie
Aye
Kolb
Aye
Gottfried
Aye
Oaks
Aye
Lentol
Aye
Butler
Aye
Gantt
Excused
Crouch
Aye
Nolan
Aye
Finch
Aye
Weinstein
Aye
Barclay
Aye
Hooper
Excused
Raia
Aye
Ortiz
Aye
Hawley
Aye
Pretlow
Aye
Cook
Aye
Glick
Aye
Morelle
Aye
Aubry
Aye
Englebright
Aye
Dinowitz
Aye
Colton
Aye
Magnarelli
Aye
Perry
Aye
Galef
Aye
Paulin
Aye
Titus
Aye
Peoples-Stokes
Aye
Benedetto
Aye

A08402 Floor Votes:

A08402 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8402--A
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                      June 13, 2017
                                       ___________
 
        Introduced by M. of A. ABBATE -- read once and referred to the Committee
          on  Governmental  Employees -- recommitted to the Committee on Govern-
          mental Operations in accordance  with  Assembly  Rule  3,  sec.  2  --
          committee  discharged,  bill amended, ordered reprinted as amended and
          recommitted to said committee

        AN ACT to amend the retirement and social security law, in  relation  to
          transfer of retirement membership for certain employees of SUNY within
          the professional, scientific and technical bargaining unit
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The retirement and social security law is amended by adding
     2  a new section 618 to read as follows:
     3    § 618. Transfer of membership into New York state and local employees'
     4  retirement system. a. Definitions. Whenever used in this section:
     5    1. The term "eligible employee" shall mean a  person  who  as  of  the
     6  effective date of this section is an employee of the state university of
     7  New York in a position within the professional, scientific and technical
     8  bargaining  unit  and who is, as of said effective date, a member of the
     9  optional retirement program and who is  a  registered  nurse  who  first
    10  became  an  employee  of the state university of New York at Stony Brook
    11  Hospital on a date between January first,  nineteen  hundred  ninety-six
    12  and December thirty-first, nineteen hundred ninety-nine and who is still
    13  employed by the state university of New York as of the date said employ-
    14  ee files an application pursuant to subdivision b of this section;
    15    2.  The  term  "optional  retirement  program" shall mean the optional
    16  retirement program established pursuant to article eight-B of the educa-
    17  tion law.
    18    b. Notwithstanding any other provision of law,  an  eligible  employee
    19  shall  be  allowed  to  become  a member of the New York state and local
    20  employees' retirement system by filing an application with said  retire-
    21  ment system no later than December thirty-first, two thousand nineteen.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11575-08-8
        A. 8402--A                          2
 
     1    c. An eligible employee who files an application to become a member of
     2  the  New  York  state  and  local  employees' retirement system shall be
     3  deemed to be a member of that retirement system with a date  of  member-
     4  ship  as  of  the  date said eligible employee was first employed by the
     5  state  university of New York. The eligible employee's membership in the
     6  optional retirement program shall terminate as of the date said applica-
     7  tion is filed.
     8    d. An eligible employee who becomes a member of the New York state and
     9  local employees' retirement system pursuant to  subdivision  b  of  this
    10  section may elect to purchase credit for previous service for any period
    11  during  which  said  employee  was  a  member of the optional retirement
    12  program by filing an application with  the  New  York  state  and  local
    13  employees'  retirement  system  no later than December thirty-first, two
    14  thousand nineteen and by paying to said retirement system an  amount  as
    15  determined  by  the  comptroller equal to the full cost of such previous
    16  service credit purchased which shall include an amount equivalent to the
    17  additional costs to the employer of providing retirement service  credit
    18  to  such  employee  while  such  employee  was  a member of the optional
    19  retirement program as determined  by  the  actuary  for  the  retirement
    20  system. Said payment may be made by a transfer of funds from the employ-
    21  ee's optional retirement program account to the New York state and local
    22  employees'  retirement  system.  Said  payment  may  also be made in one
    23  payment by the employee or by payroll deduction over  a  period  not  to
    24  exceed five years.
    25    §  2. Notwithstanding any other provision of law to the contrary, none
    26  of the provisions of this act shall be subject  to  section  25  of  the
    27  retirement and social security law.
    28    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill will allow any employee of the State University of New York
        (SUNY) who is a registered nurse in a position within the  Professional,
        Scientific and Technical bargaining unit, who first became employed with
        SUNY  at  Stony  Brook Hospital between January 1, 1996 and December 31,
        1999, and who enrolled in the Optional Retirement Program, to  terminate
        their memberships in the Optional Retirement Program and to be deemed to
        be  members of the New York State and Local Employees' Retirement System
        (NYSLERS) with a date of membership as of the date of  first  employment
        by  SUNY. Affected members will have to pay the entire past service cost
        as determined by the Comptroller in  order  to  get  retirement  service
        credit for the service rendered before their dates of membership.
          If  this  bill is enacted, the number of employees who may be affected
        by this legislation cannot be readily determined. For every employee who
        does so elect, there will be an annual cost to the State of New York  of
        approximately 15.8% of salary for the fiscal year ending March 31, 2019.
          In addition to the annual cost above, for every member who elects this
        benefit,  there will be a past service cost that will depend on the age,
        service and salary of the member. The members will  be  able  to  offset
        this  cost  by  the  transfer  of  funds  from their Optional Retirement
        Program balances. For an individual member, if  the  amount  transferred
        from the Optional Retirement Program is less than the past service cost,
        the  member  will be have to make up the difference either as a one-time
        payment or by making a series of payments over  a  period  of  five  (5)
        years.
          Summary of relevant resources:
          The  membership  data  used  in  measuring  the impact of the proposed
        change was the same as that used in the March 31, 2017  actuarial  valu-
        A. 8402--A                          3
 
        ation.    Distributions  and  other  statistics can be found in the 2017
        Report of the  Actuary  and  the  2017  Comprehensive  Annual  Financial
        Report.
          The  actuarial assumptions and methods used are described in the 2015,
        2016 and 2017 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, 2017
        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 estimate, dated June 1, 2018, and intended for  use  only  during
        the  2018  Legislative Session, is Fiscal Note No. 2018-119, prepared by
        the Actuary for the New York State and Local Retirement System.