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S04725 Summary:

S04725 Actions:

S04725 Committee Votes:

S04725 Floor Votes:

S04725 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          4725
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                     March 22, 2019
                                       ___________
 
        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 authorize Patrick Humiston to receive certain  service  credit
          under section 384-d of the retirement and social security law

          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,  Patrick  Humi-
     2  ston,  currently  a city of Buffalo police officer and member of the New
     3  York State and local police and fire  retirement  system  covered  under
     4  section 384-d of the retirement and social security law, who for a peri-
     5  od  beginning November 12, 2002 and ending August 21, 2006, was employed
     6  as a deputy sheriff by the Erie County Sheriff's Department where he was
     7  a member of the New York state and local employees'  retirement  system,
     8  and  who,  for  reasons  not  ascribable  to his own negligence, was not
     9  granted service credit under section 384-d of the retirement and  social
    10  security law for his period of employment with the Erie County Sheriff's
    11  Department,  shall be granted such service credit under section 384-d of
    12  the retirement and social security law and shall be entitled to the full
    13  rights and benefits associated with coverage under such section as  well
    14  as  section 384-e of such law, provided that a request to that effect is
    15  filed with the state comptroller within one year from the effective date
    16  of this act.
    17    § 2. All past service costs incurred in implementing the provisions of
    18  this act shall be borne by the city of Buffalo.
    19    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill will grant service credit under section 384-d together  with
        section  384-e  of  the Retirement and Social Security Law to Patrick J.
        Humiston, a current member of the New York State and  Local  Police  and
        Fire  Retirement  System  (PFRS),  for  the  period of November 12, 2002
        through August 21, 2006, during which he was employed as a deputy  sher-
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02951-02-9
        S. 4725                             2
 
        iff  in Erie County. Currently, deputy sheriff service is not creditable
        in a PFRS twenty year police retirement plan.
          If  this  bill  is  enacted during the 2019 legislative session, there
        will be an immediate past service cost of approximately  $237,000  which
        will  be  borne by the City of Buffalo as a one-time payment. This esti-
        mate is based on the assumption that payment will be made on February 1,
        2020.
          There will be no increase in the annual contributions of the  City  of
        Buffalo.
          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, 2018  actuarial  valu-
        ation.    Distributions  and  other  statistics can be found in the 2018
        Report of the  Actuary  and  the  2018  Comprehensive  Annual  Financial
        Report.
          The  actuarial assumptions and methods used are described in the 2015,
        2016, 2017, and 2018 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, 2018
        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 March 21, 2019, and intended for use only during
        the 2019 Legislative Session, is Fiscal Note No.  2019-93,  prepared  by
        the Actuary for the New York State and Local Retirement System.