STATE OF NEW YORK
________________________________________________________________________
10684
IN ASSEMBLY
May 10, 2018
___________
Introduced by M. of A. JENNE -- read once and referred to the Committee
on Governmental Employees
AN ACT granting retroactive tier IV membership in the New York state and
local employees' retirement system to Scott Goodfellow
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, Scott Goodfel-
2 low, a member of the New York state and local employees' retirement
3 system, who was employed on December 28, 2009, by the county of St.
4 Lawrence department of corrections, and who filed membership application
5 in such system on December 28, 2009, which should have given him Tier IV
6 status but for reasons not ascribable to his own negligence and due to
7 an administrative error, the application was not processed in the usual
8 manner and therefore not processed until January 4, 2010, may be deemed
9 to have become a member of the New York state and local employees'
10 retirement system on December 28, 2009, if within one year from the date
11 this act shall have become a law he shall file an application therefor
12 with the state comptroller. Upon the receipt of such application, Scott
13 Goodfellow shall be granted Tier IV status in the New York state and
14 local employees' retirement system and be eligible for all the rights
15 and benefits thereof. No contributions made to the New York state and
16 local employees' retirement system by Scott Goodfellow shall be returned
17 to him pursuant to this act.
18 § 2. Any past service costs incurred in implementing the provisions of
19 this act shall be borne by the county of St. Lawrence.
20 § 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill will grant retroactive Tier 4 status in the New York State
and Local Employees' Retirement System to Scott R. Goodfellow, a current
Tier 5 member employed by the NYS Power Authority, by changing his date
of membership to December 28, 2009, his first date of employment with
the county of St. Lawrence department of corrections. There will be no
refund of member contributions.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02564-03-8
A. 10684 2
If this bill is enacted during the 2018 legislative session, there
will be an increase of approximately $2,300 in the annual contributions
of the NYS Power Authority for the fiscal year ending March 31, 2019. In
future years, this cost will vary as the billing rates and salaries of
Scott R. Goodfellow change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $2,850 which will be
borne by the county of St. Lawrence as a one-time payment. This esti-
mate is based on the assumption that payment will be made on February 1,
2019.
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-
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 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, 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 April 23, 2018, and intended for use only during
the 2018 Legislative Session, is Fiscal No. 2018-87, prepared by the
Actuary for the New York State and Local Retirement System.
