Grants retroactive membership with Tier IV status in the New York state and local employees' retirement system to Ronald Bower, provided he files an application with the head of the NYSLRS within one year.
STATE OF NEW YORK
________________________________________________________________________
2791--A
2023-2024 Regular Sessions
IN SENATE
January 24, 2023
___________
Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
-- recommitted to the Committee on Civil Service and Pensions in
accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee
AN ACT in relation to granting retroactive membership with Tier IV
status in the New York state and local employees' retirement system to
Ronald Bower
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 the law to the
2 contrary, Ronald Bower, an employee of the Genesee County Highway
3 Department and a member of the New York state and local employees'
4 retirement system, who was employed in the Occupational Skills Program
5 at Erie 1 BOCES beginning November 12, 1986 through July 6, 1988, who
6 for reasons not ascribable to his own negligence, failed to become a
7 member of such retirement system when first employed by Erie 1 BOCES
8 beginning in 1986, shall be deemed to have been a member of the New York
9 state and local employees' retirement system on such date that he
10 commenced his employment with Erie 1 BOCES on November 12, 1986, and
11 shall be granted Tier IV status in such retirement system, provided that
12 an application is filed with the head of the New York state and local
13 employees' retirement system within one year from the effective date of
14 this act. Upon the granting of such retroactive membership, Ronald Bower
15 shall not be granted a refund of any employee contribution made by him
16 to the New York state and local employees' retirement system.
17 § 2. No contributions made to the New York state and local employees'
18 retirement system by Ronald Bower shall be returned or refunded to him
19 pursuant to this act.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06734-03-4
S. 2791--A 2
1 § 3. All past service costs associated with the implementation of this
2 act shall be borne by Erie 1 BOCES.
3 § 4. This act shall take effect immediately.
Fiscal Note.--Pursuant to Legislative Law, Section 50:
This bill would provide Ronald Bower with a date of membership of
November 12, 1986, their date of first employment with the Erie 1 BOCES,
resulting in Tier 4 status in the New York State and Local Employees'
Retirement System. Ronald Bower is currently a Tier 6 member. There will
be no refund of member contributions.
If this bill is enacted during the 2024 Legislative Session, we antic-
ipate that there will be an increase of approximately $3,900 in the
annual contributions of Genesee County for the fiscal year ending March
31, 2025. In future years this cost will vary as the billing rates and
salary of Ronald Bower change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $9,150 which will be
borne by the Erie 1 BOCES as a one-time payment. This estimate assumes
that payment will be made on February 1, 2025.
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.
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 January 15, 2024, and intended for use only
during the 2024 Legislative Session, is Fiscal Note No. 2024-53,
prepared by the Actuary for the New York State and Local Retirement
System.
