•  Summary 
  •  
  •  Actions 
  •  
  •  Committee Votes 
  •  
  •  Floor Votes 
  •  
  •  Memo 
  •  
  •  Text 
  •  
  •  LFIN 
  •  
  •  Chamber Video/Transcript 

S03123 Summary:

BILL NOS03123
 
SAME ASNo Same As
 
SPONSORGALLIVAN
 
COSPNSR
 
MLTSPNSR
 
Amd §600, R & SS L
 
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.
Go to top    

S03123 Actions:

BILL NOS03123
 
01/27/2023REFERRED TO CIVIL SERVICE AND PENSIONS
01/03/2024REFERRED TO CIVIL SERVICE AND PENSIONS
Go to top

S03123 Text:



 
                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.
Go to top