Provides equal retirement benefits for persons who have been appointed to the title of correction lieutenant, correction captain, deputy assistant superintendent and superintendent in the department of corrections and community supervision.
STATE OF NEW YORK
________________________________________________________________________
3123
2023-2024 Regular Sessions
IN SENATE
January 27, 2023
___________
Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
AN ACT to amend the retirement and social security law, in relation to
providing equal retirement benefits for persons who have been
appointed to the title of correction lieutenant, correction captain,
deputy assistant superintendent or superintendent in the department of
corrections and community supervision
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Clause (ii) of subparagraph (b) of paragraph 2 of subdivi-
2 sion a of section 600 of the retirement and social security law, as
3 amended by section 149 of subpart B of part C of chapter 62 of the laws
4 of 2011, is amended and two new clauses (iii) and (iv) are added to read
5 as follows:
6 (ii) a person who serves in the title of superintendent as of April
7 first, two thousand six, who has had at least seven years of service
8 credited toward the retirement plan established pursuant to this article
9 while employed by the department of corrections and community super-
10 vision and who elects the retirement plan established pursuant to this
11 article on or before September thirtieth, two thousand six. Such
12 election shall be in writing, shall be duly executed and filed with the
13 comptroller and shall be irrevocable as long as such person is in the
14 title of superintendent[.]; or
15 (iii) a person who is appointed to the title of correction lieutenant,
16 correction captain, deputy assistant superintendent or superintendent in
17 institutions under the jurisdiction of the department of corrections and
18 community supervision and who elects the retirement plan established
19 pursuant to this article within ninety days of his or her appointment.
20 Such election shall be in writing, shall be duly executed and filed with
21 the comptroller and shall be irrevocable as long as such person is in
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00558-02-3
S. 3123 2
1 the title of correction lieutenant, correction captain, deputy assistant
2 superintendent or superintendent; or
3 (iv) a person who serves in the title of correction lieutenant,
4 correction captain, deputy assistant superintendent or superintendent on
5 the effective date of this clause and who elects the retirement plan
6 established pursuant to this article within ninety days of the effective
7 date of this clause. Such election shall be in writing, shall be duly
8 executed and filed with the comptroller and shall be irrevocable as long
9 as such person is in the title of correction lieutenant, correction
10 captain, deputy assistant superintendent or superintendent.
11 § 2. This act shall take effect immediately.
FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
This bill would allow certain Tier 3, 5 and 6 correction lieutenants,
correction captains, deputy assistant superintendents, and superinten-
dents under the jurisdiction of the department of corrections and commu-
nity supervision of New York State to become eligible to receive bene-
fits under the provisions of Article 15 of the Retirement and Social
Security Law instead of the special plan giving 50% of final average
salary at 25 years of service. Current law requires seven years of
service in the superintendent title to elect coverage under Article 15.
If this bill is enacted during the 2023 legislative session, there
will be an immediate past service cost of approximately $36.1 million,
which will be borne by the State of New York as a one-time payment. This
estimate assumes that payment will be made on March 31, 2024.
This bill will not increase the future annual contributions of the
State of New York.
These estimated costs are based on 512 affected members employed by
the State of New York, with annual salary of approximately $63 million
as of March 31, 2022.
Affected members would have 90 days from the later of the effective
date of this bill and their date of being appointed to one of the titles
to file for this benefit. The election will be irrevocable.
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.
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 January 25, 2023, and intended for use only
during the 2023 Legislative Session, is Fiscal Note No. 2023-017,
prepared by the Actuary for the New York State and Local Retirement
System.