STATE OF NEW YORK
________________________________________________________________________
4366--A
2019-2020 Regular Sessions
IN SENATE
March 11, 2019
___________
Introduced by Sen. GAUGHRAN -- 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 granting retroactive tier IV membership in the New York state and
local employees' retirement system to Rebecca Leonard
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, Rebecca
2 Leonard, formerly Rebecca Abensur, a member of the New York state and
3 local employees' retirement system, who was employed in November 2007,
4 by Half Hollow Hills Central School District, who did not file a member-
5 ship application in such system until 2010, which gave her Tier V status
6 instead of Tier IV status, where she would have been had she filed a
7 membership application when she became a permanent employee in November
8 2007 may be deemed to have become a member of the New York state and
9 local employees' retirement system in November 2007 if, within one year
10 of the effective date of this act, she shall file with the state comp-
11 troller a written request to that effect. Upon the granting of such
12 retroactive membership, Rebecca Leonard shall not be granted a refund of
13 any employee contribution made by her to the New York state and local
14 employees' retirement system.
15 § 2. All past service costs associated with the implementation of this
16 act shall be borne by the county of Nassau.
17 § 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill will grant Tier 4 status in the New York State and Local
Employees' Retirement System to Rebecca Leonard, a current Tier 5 member
employed by Nassau County, by changing her date of membership to Novem-
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07966-03-0
S. 4366--A 2
ber 2007, her first date of employment with the Half Hollow Hills
Central School District. There will be no refund of member contrib-
utions.
If this legislation is enacted during the 2020 legislative session, we
anticipate that there will be an increase of approximately $2,400 in the
annual contributions of Nassau County for the fiscal year ending March
31, 2021. In future years, this cost will vary as the billing rates and
salary of Rebecca Leonard change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of $16,100 which will be borne by Nassau
County as a one-time payment. This estimate is based on the assumption
that payment will be made on February 1, 2021.
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, 2019 actuarial valu-
ation. Distributions and other statistics can be found in the 2019
Report of the Actuary and the 2019 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2015,
2016, 2017, 2018 and 2019 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, 2019
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 22, 2020, and intended for use only
during the 2020 Legislative Session, is Fiscal Note No. 2020-23,
prepared by the Actuary for the New York State and Local Retirement
System.