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S07854 Summary:

S07854 Actions:

S07854 Committee Votes:

S07854 Floor Votes:

S07854 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7854
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                       May 9, 2025
                                       ___________
 
        Introduced  by  Sen. PALUMBO -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions
 
        AN ACT in relation to granting retroactive Tier II membership in the New
          York state and local police and fire retirement system to Giuseppe  T.
          Rosini

          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,  Giuseppe  T.
     2  Rosini, a member of the New York state and local police and fire retire-
     3  ment  system,  who  was  employed by the Wading River Fire District from
     4  October 2004 through December 2008, who, for reasons not  ascribable  to
     5  his  own  negligence,  and as acknowledged as an error or mistake by the
     6  Wading River Fire Department in failing to notify Giuseppe T. Rosini  of
     7  his  eligibility to enroll or providing an opportunity to enroll in such
     8  retirement system based on his  part-time  employment  with  the  Wading
     9  River  Fire Department, did not file a membership application in the New
    10  York state and local police  and  fire  retirement  system  during  such
    11  employment  with the Wading River Fire District, and who would have been
    12  eligible to enroll as a member in the New York State  and  Local  Police
    13  and Fire Retirement System as a Tier II status member at the time of his
    14  employment  with  the  Wading  River  Fire  Department, did not become a
    15  member of the New York state and local police and fire retirement system
    16  until December 15, 2014, which gave him Tier VI status instead  of  Tier
    17  II status.
    18    §  2.  Notwithstanding any other provision of law, Giuseppe T. Rosini,
    19  who is currently employed by the town of Riverhead,  may  be  deemed  to
    20  have  become  a  member  of the New York state and local police and fire
    21  retirement system on October 25, 2004  if,  within  six  months  of  the
    22  effective  date  of this act, he shall file with the state comptroller a
    23  written request to that effect. Upon the granting  of  such  retroactive
    24  membership,  Giuseppe  T.  Rosini  shall  not be granted a refund of any
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04421-04-5
        S. 7854                             2
 
     1  employee contribution made by him to the New York state and local police
     2  and fire retirement system and any and all such contributions  shall  be
     3  credited  toward and used to pay costs and outstanding contributions due
     4  and  owing  to  the  New York state and local police and fire retirement
     5  system associated with the implementation of this act.
     6    § 3. All past service costs associated with the implementation of this
     7  act that are related to Giuseppe T. Rosini's employment with the  Wading
     8  River Fire District shall be borne by the Wading River Fire District.
     9    §  4.  All other past service costs associated with the implementation
    10  of this act shall be borne by the town of Riverhead.
    11    § 5. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would grant Tier 2 status in the New York  State  and  Local
        Police  and Fire Retirement System to Giuseppe T. Rosini, a current Tier
        6 member employed by the Town of Riverhead, by changing  their  date  of
        membership  to  October  25,  2004,  their first date of employment with
        Wading River Fire District. There will be no refund of  member  contrib-
        utions.
          If this bill is enacted during the 2025 Legislative Session, we antic-
        ipate  that  there  will  be an increase of approximately $18,000 in the
        annual contributions of the Town of Riverhead for the fiscal year ending
        March 31, 2026. In future years this cost will vary as the billing rates
        and salary of Giuseppe T. Rosini change.
          In addition to the annual contributions discussed above, there will be
        an immediate past service cost of approximately  $2,880  which  will  be
        borne  by the Town of Riverhead. This estimate assumes that payment will
        be made on February 1, 2026.
          Summary of relevant resources:
          Membership data as of March 31, 2024 was used in measuring the  impact
        of the proposed change, the same data used in the April 1, 2024 actuari-
        al  valuation.  Distributions  and  other statistics can be found in the
        2024 Report of the Actuary and the 2024 Annual  Comprehensive  Financial
        Report.  The actuarial assumptions and methods used are described in the
        2024 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, 2024 New York State and Local Retirement System Financial Statements
        and Supplementary Information.
          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 May 5, 2025, and intended for use only during the
        2025  Legislative Session, is Fiscal Note No. 2025-154. As Chief Actuary
        of the New York State and Local Retirement  System,  I,  Aaron  Schottin
        Young,  hereby certify that this analysis complies with applicable Actu-
        arial Standards of Practice as well as the Code of Professional  Conduct
        and Qualification Standards for Actuaries Issuing Statements of Actuari-
        al Opinion of the American Academy of Actuaries, of which I am a member.