STATE OF NEW YORK ________________________________________________________________________ 6130--A 2017-2018 Regular Sessions IN SENATE May 11, 2017 ___________ Introduced by Sens. AMEDORE, TEDISCO -- 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 tier IV membership in the New York state and local employees' retirement system to Christopher M. Allen 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, Christopher M. 2 Allen, a member of the New York state and local retirement system, who 3 was employed by the capital region board of cooperative educational 4 services in March 2008, for reasons not ascribed to his own negligence, 5 did not file a membership application in such system until October 2013, 6 which gave him Tier VI status instead of Tier IV status, where he would 7 have been able to file a membership application when he became a perma- 8 nent employee in March 2008 may be deemed to have become a member of the 9 New York state and local employees' retirement system in March 2008 if 10 on or before December 31, 2017 he shall file with the state comptroller 11 a written request to that effect. Upon the granting of such retroactive 12 membership, Christopher M. Allen shall not be granted a refund of any 13 employee contribution made by him to the New York state and local 14 employees' retirement system. 15 § 2. Any past service costs incurred in implementing the provisions of 16 this act shall be borne by the capital region board of cooperative 17 educational services. 18 § 3. This act shall take effect immediately. FISCAL NOTE.-- This bill will grant Tier 4 status in the New York State and Local Employees' Retirement System to Christopher M. Allen, by changing his date of membership to be in March, 2008, the date he was employed by the capital region board of cooperative educational EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11664-02-7

S. 6130--A 2 services. He currently is a Tier 6 member employed by the state of New York as a unified court peace officer. If this legislation is enacted during the 2017 legislative session, we anticipate that there will be an increase of approximately $4,100 in the annual contributions of the state of New York for the fiscal year ending March 31, 2018. In future years, this cost will vary as the billing rates and salaries of Christopher M. Allen change. In addition to the annual contributions discussed above, there will be a one-time past service cost of $13,500 which will be borne by the capi- tal region board of cooperative educational services as a one-time payment. This estimate is based on the assumption that payment will be made on February 1, 2018. 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, 2016 actuarial valu- ation. Distributions and other statistics can be found in the 2016 Report of the Actuary and the 2016 Comprehensive Annual Financial Report. The actuarial assumptions and methods used are described in the 2015 and 2016 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, 2016 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 May 25, 2017, and intended for use only during the 2017 Legislative Session, is Fiscal Note No. 2017-107, prepared by the Actuary for the New York State and Local Retirement System.