STATE OF NEW YORK
________________________________________________________________________
7562--A
IN SENATE
January 25, 2018
___________
Introduced by Sen. ROBACH -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
-- 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 Mark N. Neusatz
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, Mark N.
2 Neusatz, who was employed as a part-time employee with the Monroe county
3 sheriff's department with a start date of April 26, 2005 until April 10,
4 2010, and who is currently a member of the New York state and local
5 employees' retirement system, who did not become a member of the New
6 York state and local employees' retirement system on April 26, 2005 when
7 first employed by the Monroe county sheriff's department shall be deemed
8 to have been a member of the New York state and local employees' retire-
9 ment system on such date, provided that an application is filed with the
10 head of the New York state and local employees' retirement system within
11 one year from the effective date of this act.
12 § 2. No contributions made to the New York state and local employees'
13 retirement system by Mark N. Neusatz shall be returned or refunded to
14 him pursuant to this act.
15 § 3. All past service costs associated with the implementation of this
16 act shall be borne by Monroe county.
17 § 4. 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 Mark N. Neusatz, a current Tier 5 member
employed by the Monroe county sheriff's department, by changing his date
of membership to April 26, 2005, when he was first employed by Monroe
County. There will be no refund of member contributions.
If this bill is enacted during the 2018 legislative session, we antic-
ipate that there will be an increase of appoximately $1,900 in the annu-
al contributions of Monroe county for the fiscal year ending March 31,
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13950-07-8
S. 7562--A 2
2019. In future years, this cost will vary as the billing rate and sala-
ry of Mark Neusatz change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $3,600 which will be
borne by Monroe county as a one-time payment. This estimate is based on
the assumption that payment will be made on February 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 January 4, 2018, and intended for use only during
the 2018 Legislative Session, is Fiscal Note No. 2018-29, prepared by
the Actuary for the New York State and Local Retirement System.
