STATE OF NEW YORK
________________________________________________________________________
6730--B
2017-2018 Regular Sessions
IN SENATE
June 15, 2017
___________
Introduced by Sen. LANZA -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules -- 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 committee -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT granting retroactive membership in the New York state and local
employees' retirement system to Joseph J. Maltese
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Notwithstanding any other law to the contrary, Joseph J.
2 Maltese, who was employed as a full-time employee with the New York city
3 civil court from February 2, 1970 through September 4, 1970, and who was
4 later employed as a full-time employee with the New York state office of
5 the attorney general from June 7, 1971 through September 3, 1971, and
6 who is currently a full-time employee of the New York state unified
7 court system, and who is a Tier II member of the New York state and
8 local employees' retirement system, and who through no fault of his own
9 did not become a member of the New York city employees' retirement
10 system on February 2, 1970 when first employed by the New York city
11 civil court, and who through no fault of his own, did not become a
12 member of the New York state and local employees' retirement system on
13 July 7, 1971 when first employed by the New York state office of the
14 attorney general shall be deemed to have a date of membership with the
15 New York state and local employees' retirement system of February 2,
16 1970, if, within one year of the effective date of this act, he shall
17 file an application therefore with the state comptroller. Upon the
18 receipt of such application, Joseph J. Maltese shall be granted Tier I
19 status in the New York state and local employees' retirement system and
20 be eligible for all the rights and benefits thereof. No contributions
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13100-08-8
S. 6730--B 2
1 made to the New York city employees' retirement system or the New York
2 state and local employees' retirement system by Joseph J. Maltese, shall
3 be returned or refunded to him pursuant to this act.
4 § 2. Any past service costs associated with the implementation of this
5 act shall be borne by the New York state unified court system.
6 § 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill will grant Tier 1 status to Joseph J. Maltese, a current
Tier 2 member employed by the New York State unified court system, by
changing his date of membership to February 2, 1970, his first date of
employment with the New York City civil court. There will be no refund
of member contributions.
If this legislation is enacted during the 2018 legislative session, we
anticipate that there will be an increase of approximately $4,300 in the
annual contributions of the New York State unified court system for the
fiscal year ending March 31, 2019. In future years, this cost will vary
as the billing rate and salary of Joseph Maltese change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $30,500 which will be
borne by the New York State unified court system as a one-time payment.
This estimate is based on the assumption that payment will be made on
March 1, 2019.
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, 2017 actuarial valu-
ation. Distributions and other statistics can be found in the 2017
Report of the Actuary and the 2017 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2015,
2016, and 2017 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, 2017
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 estimate, dated June 14, 2018, and intended for use only during
the 2018 Legislative Session, is Fiscal Note No. 2018-125, prepared by
the Actuary for the New York State and Local Retirement System.
