STATE OF NEW YORK
________________________________________________________________________
9026
IN SENATE
May 4, 2022
___________
Introduced by Sen. STEC -- read twice and ordered printed, and when
printed to be committed to the Committee on Civil Service and Pensions
AN ACT granting retroactive tier IV status in the New York state and
local employees' retirement system to Kimberly Kinblom
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 to the contrary,
2 Kimberly Kinblom, who was employed as a laborer by the city of Platts-
3 burgh with a start date of June 28, 2004, and who is currently a member
4 of the New York state and local employees' retirement system, who
5 through no fault of her own did not become a member of the New York
6 state and local employees' retirement system on June 28, 2004 when first
7 employed by city of Plattsburgh shall be deemed to have been a member of
8 the New York state and local employees' retirement system on such date
9 she commenced her employment and shall be granted Tier IV status,
10 provided that an application is filed with the head of the New York
11 state and local employees' retirement system within one year from the
12 effective date of this act. Upon the granting of such retroactive
13 membership, Kimberly Kinblom shall not be granted a refund of any
14 employee contribution made by her to the New York state and local
15 employees' retirement system.
16 § 2. All past services costs associated with the implementation of
17 this act shall be borne by Clinton county.
18 § 3. This act shall take effect immediately.
FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
This bill would grant Tier 4 status in the New York State and Local
Employees' Retirement System to Kimberly Kinblom, a current Tier 6
member employed by Clinton County, by changing her date of membership to
June 28, 2004. Kimberly Kinblom was previously employed by the City of
Plattsburgh from June 2004 to August 2007. There will be no refund of
member contributions.
If this bill is enacted during the 2022 legislative session, we antic-
ipate that there will be an increase of approximately $5,500 in the
annual contributions of Clinton County for the fiscal year ending March
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD15050-04-2
S. 9026 2
31, 2023. In future years, this cost will vary as the billing rates and
salary of Kimberly Kinblom change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $103,000 which will be
borne by Clinton County as a one-time payment. This estimate is based
on the assumption that payment will be made on February 1, 2023.
Summary of relevant resources:
Membership data as of March 31, 2021 was used in measuring the impact
of the proposed change, the same data used in the April 1, 2021 actuari-
al valuation. Distributions and other statistics can be found in the
2021 Report of the Actuary and the 2021 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2020
and 2021 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, 2021
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 May 3, 2022, and intended for use only during the
2022 Legislative Session, is Fiscal Note No. 2022-136, prepared by the
Actuary for the New York State and Local Retirement System.
