STATE OF NEW YORK
________________________________________________________________________
5832--A
2023-2024 Regular Sessions
IN SENATE
March 17, 2023
___________
Introduced by Sens. JACKSON, THOMAS -- 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 to amend the parks, recreation and historic preservation law, in
relation to increasing the mandatory retirement age of New York state
regional park police
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 4 of section 13.17 of the parks, recreation and
2 historic preservation law, as amended by chapter 662 of the laws of
3 1972, is amended to read as follows:
4 4. Any member appointed on or after April first, nineteen hundred
5 sixty-five shall be separated from such service upon attaining [sixty-
6 two] sixty-five years of age.
7 § 2. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would increase the mandatory retirement age from 62 to 65
for members of the New York State and Local Police and Fire Retirement
System (NYSLPFRS) covered under the provisions of section 383-a of the
Retirement and Social Security Law.
If this bill is enacted during the 2024 Legislative Session, there
would be additional benefits for certain members who remain employed
beyond age 62 which would be funded by the normal employer contrib-
utions. If members delay retirement due to the enactment of this bill,
we do not anticipate any increases in the annual contribution rates for
any of the participating employers in the NYSLPFRS.
Summary of relevant resources:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08529-03-4
S. 5832--A 2
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 25, 2024, and intended for use only
during the 2024 Legislative Session, is Fiscal Note No. 2024-86,
prepared by the Actuary for the New York State and Local Retirement
System.
