STATE OF NEW YORK
________________________________________________________________________
7593
IN SENATE
January 29, 2020
___________
Introduced by Sen. HELMING -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
AN ACT granting retroactive membership in the New York state and local
employees' retirement system to Rachael Bowman
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, Rachael Bowman,
2 an employee of the New York state department of parks, recreation and
3 historic preservation and a member of the New York state and local
4 employees' retirement system, who was employed as a seasonal employee
5 for Taughannock Falls State Park, beginning on April 30, 2009, who
6 through no fault of her own, failed to become a member of such retire-
7 ment system during such employment by Taughannock Falls State Park in
8 2009, shall be deemed to have joined the New York state and local
9 employees' retirement system on the date April 30, 2009 and shall be
10 granted Tier IV status in such retirement system, if, within one year of
11 the effective date of this act, she shall file a written request with
12 the state comptroller.
13 § 2. No contributions made to the New York state and local employees'
14 retirement system by Rachael Bowman shall be returned or refunded to her
15 pursuant to this act.
16 § 3. All past service costs of implementing the provisions of this act
17 shall be borne by the state of New York.
18 § 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 Rachael Bowman, a current Tier 5 member
employed by the New York State Department of Parks, Recreation and
Historic Preservation, by changing her date of membership to April 30,
2009. There will be no refund of member contributions.
If this bill is enacted during the 2020 legislative session, we antic-
ipate that there will be an increase of approximately $1,500 in the
annual contributions of the State of New York for the fiscal year ending
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14045-02-9
S. 7593 2
March 31, 2021. In future years, this cost will vary as the billing rate
and salary of Rachael Bowman change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $12,300 which will be
borne by the State of New York as a one-time payment. This estimate is
based on the assumption that payment will be made on March 1, 2021.
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 November 15, 2019, and intended for use only
during the 2020 Legislative Session, is Fiscal Note No. 2020-13,
prepared by the Actuary for the New York State and Local Retirement
System.
