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A10046 Summary:

Authorizes Kevin Brischoux to receive certain service credit under section 384-d of the retirement and social security law.
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A10046 Text:

                STATE OF NEW YORK
                   IN ASSEMBLY
                                     April 29, 2022
        Introduced  by M. of A. SCHMITT -- read once and referred to the Commit-
          tee on Governmental Employees -- committee discharged,  bill  amended,
          ordered reprinted as amended and recommitted to said committee
        AN  ACT  to  authorize Kevin Brischoux 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 to the contrary,
     2  Kevin  Brischoux,  a  member  of the New York state and local police and
     3  fire retirement system, who was employed as a police  officer  with  the
     4  town  of  Goshen,  from July 14, 2002 through November 2, 2003, and who,
     5  through no fault of his own, failed to  file  a  timely  application  to
     6  participate  in  the  special  twenty-year  retirement plan contained in
     7  section 384-d of the retirement and social security law resulting in the
     8  crediting of his service with the town of Goshen in the general  retire-
     9  ment  plan contained in section 375-c of such law, shall be granted such
    10  service credit under section 384-d of the retirement and social security
    11  law for his period of employment with the town  of  Goshen,  provided  a
    12  request  to  that  effect is filed with the state comptroller within one
    13  year from the effective date of this act.
    14    § 2. All employer past service costs associated with implementing  the
    15  provisions  of  this act shall be borne by the town of Goshen and may be
    16  amortized over a period of ten years.
    17    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would grant Kevin C. Brischoux, a Tier 2 member of  the  New
        York  State  and  Local  Police  and  Fire Retirement System, additional
        service creditable under the provisions of section 384-d of the  Retire-
        ment  and Social Security Law (RSSL) for time worked as a police officer
        of the Town of Goshen.  Such service is currently creditable in the  age
        55  retirement  plan of section 375-c of the RSSL but not in the 20-year
        plan of section 384-d. Kevin C. Brischoux is currently employed  by  the
        City of Middletown. No member contributions will be refunded pursuant to
        this act.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.

        A. 10046--A                         2
          If  this  bill  is  enacted during the 2022 legislative session, there
        will be an immediate past service cost of  approximately  $27,400  which
        will  be  borne by the Town of Goshen as a one-time payment.  This esti-
        mate is based on the assumption that payment will be made on February 1,
        2023.  If the Town of Goshen elects to amortize this cost over a 10-year
        period, the cost for the first year including interest would be $3,490.
          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
          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
          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 12, 2022, and intended for use only during
        the 2022 Legislative Session, is Fiscal Note No. 2022-135,  prepared  by
        the Actuary for the New York State and Local Retirement System.
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