STATE OF NEW YORK
________________________________________________________________________
7532
IN SENATE
January 23, 2020
___________
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 William J. Cooley 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, William J.
2 Cooley, currently a city of Buffalo police officer and member of the New
3 York state and local police and fire retirement system covered by
4 section 384-d of the retirement and social security law, who for the
5 period beginning June 16, 2003 and ending July 15, 2006, was employed as
6 a deputy sheriff by the Erie County Sheriff's Department where he was a
7 member of the New York state and local employees' retirement system, and
8 who, for reasons not ascribable to his own negligence, was not granted
9 service credit under section 384-d of the retirement and social security
10 law for such period of employment with the Erie County Sheriff's Depart-
11 ment, shall be granted such service credit under section 384-d of the
12 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 William J.
Cooley, a current member of the New York State and Local Police and Fire
Retirement System (PFRS), for the period of June 16, 2003 through July
15, 2006, during which he was employed as a deputy sheriff in Erie Coun-
ty. Currently, deputy sheriff service is not creditable in a PFRS twenty
year police retirement plan.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14537-04-0
S. 7532 2
If this bill is enacted during the 2020 legislative session, there
will be an immediate past service cost of approximately $303,000 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,
2021.
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, 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. 2020-35,
prepared by the Actuary for the New York State and Local Retirement
System.
