S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10770
 
                           I N  A S S E M B L Y
 
                               May 17, 2018
                                ___________
 
 Introduced by M. of A. ERRIGO -- read once and referred to the Committee
   on Governmental Employees
 
 AN  ACT  granting retroactive membership in the New York state and local
   employees' retirement system to Shawn Coveny
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1. Notwithstanding any other law to the contrary, Shawn Cove-
 ny, an employee of the New York  State  Department  of  Corrections  and
 Community  Supervision  and  a  member  of  the New York state and local
 employees' retirement system, who was employed as a New York state  park
 aide  for  Letchworth State Park as a seasonal employee in the summer of
 2008, who for reasons not ascribable to his own  negligence,  failed  to
 become  a  member  of  such  retirement system during such employment by
 Letchworth State Park in 2008, shall be deemed to have  joined  the  New
 York  state  and  local employees' retirement system on the date May 31,
 2008 and shall be granted Tier IV status in such retirement system,  if,
 within one year of the effective date of this act, he shall file a writ-
 ten request with the state comptroller.
   §  2. No contributions made to the New York state and local employees'
 retirement system by Shawn Coveny shall be returned or refunded  to  him
 pursuant to this act.
   § 3. All past service costs of implementing the provisions of this act
 shall be borne by the state of New York.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  will grant retroactive Tier 4 status in the New York State
 and Local Employees' Retirement System to Shawn Covney, a current Tier 6
 member employed by the  NYS  Department  of  Corrections  and  Community
 Supervision,  by  changing  his  date of membership to May 31, 2008, his
 first date of employment with Letchworth State Park. There  will  be  no
 refund of membership contributions.
   If  this  bill  is  enacted during the 2018 legislative session, there
 will be an increase of approximately $3,900 in the annual  contributions
 of  the  State  of  New  York State for the fiscal year ending March 31,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD15719-04-8

 A. 10770                            2
 
 2019. In future years, this cost will vary  as  the  billing  rates  and
 salary of Shawn Coveny change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service  cost of approximately $1,750 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, 2019.
   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, 2017  actuarial  valu-
 ation.    Distributions  and  other  statistics can be found in the 2017
 Report of the  Actuary  and  the  2017  Comprehensive  Annual  Financial
 Report.
   The  actuarial assumptions and methods used are described in the 2015,
 2016, and 2017 Annual Report to the  Comptroller  on  Actuarial  Assump-
 tions,  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, 2017
 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 10, 2018, and intended for use only during
 the 2018 Legislative Session, is Fiscal Note No. 2018-100,  prepared  by
 the Actuary for the New York State and Local Retirement System.