NY State Senate Bill 2017-S6435B

Archive: Last Bill Status Via A8402 - Vetoed by Governor

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Vetoed By Governor
Signed By Governor

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Dec 07, 2018	tabled vetoed memo.286
Nov 26, 2018	delivered to governor
Jun 19, 2018	returned to assembly passed senate 3rd reading cal.1939 substituted for s6435b
Jun 19, 2018	substituted by a8402a ordered to third reading cal.1939 committee discharged and committed to rules
Jun 01, 2018	print number 6435b
Jun 01, 2018	amend and recommit to civil service and pensions
Jan 03, 2018	referred to civil service and pensions
Jun 01, 2017	print number 6435a
Jun 01, 2017	amend and recommit to civil service and pensions
May 18, 2017	referred to civil service and pensions

Votes

- Jun 19, 2018 - Floor Vote
  A8402
  
  62
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 19, 2018
      
      aye (62)
      
      Addabbo Jr.
      
      Akshar
      
      Alcantara
      
      Amedore
      
      Avella
      
      Bailey
      
      Benjamin
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Brooks
      
      Carlucci
      
      Comrie
      
      DeFrancisco
      
      Dilan
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Hamilton
      
      Hannon
      
      Helming
      
      Hoylman-Sigal
      
      Jacobs
      
      Kaminsky
      
      Kavanagh
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Little
      
      Marcellino
      
      Marchione
      
      Mayer
      
      Montgomery
      
      Murphy
      
      O'Mara
      
      Ortt
      
      Parker
      
      Peralta
      
      Persaud
      
      Phillips
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Sanders Jr.
      
      Savino
      
      Sepúlveda
      
      Serino
      
      Serrano
      
      Seward
      
      Stavisky
      
      Stewart-Cousins
      
      Tedisco
      
      Valesky
      
      Young
      
      excused (1)
      
      Croci
  Jun 19, 2018 - Rules Committee Vote
  S6435B
  
  24
  
  Aye
  
  0
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jun 19, 2018
      
      aye (24)
      
      Bonacic
      
      Breslin
      
      DeFrancisco
      
      Dilan
      
      Flanagan
      
      Gianaris
      
      Hannon
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Little
      
      Marcellino
      
      Montgomery
      
      Parker
      
      Ranzenhofer
      
      Rivera
      
      Robach
      
      Savino
      
      Seward
      
      Stewart-Cousins
      
      Valesky
      
      aye wr (1)
      
      Griffo

Bill Amendments

Original

B (Active)

2017-S6435 - Details

See Assembly Version of this Bill:: A8402
Law Section:: Retirement and Social Security Law
Laws Affected:: Add §618, R & SS L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S6110, S8696, A8008, A9853
2021-2022: A4460

2017-S6435 - Summary

Relates to transfer of retirement membership for certain employees of SUNY within the professional, scientific and technical bargaining unit.

2017-S6435 - Sponsor Memo

                                 BILL NUMBER:  S6435

 TITLE OF BILL :

An act to amend the retirement and social security law, in relation to
transfer of retirement membership for certain employees of SUNY within
the professional, scientific and technical bargaining unit

 PURPOSE :

To allow certain employees, who are participants in the Optional
Retirement Program (ORP) established pursuant to article 8-b of the
New York State Education Law, to join the New York State and Local
Retirement System (ERS) or the New York State Teachers Retirement
System (TRS) and to purchase credit for past-service accrued while
participating in the ORP.

 SUMMARY OF PROVISIONS :

Section 1 of the bill defined an "eligible employee" as an individual
who, as of the effective date of this Act, is an active employee of
the State University of New York (SUNY) in the professional,
scientific and technical bargaining unit, a participant in the ORP,
who is a registered nurse first employed of SUNY Stony Brook Hospital
between the dates January 1, 1996 and December 31, 1999, and as of the
date of their transfer application, is still an active SUNY employee.

Such eligible employees must submit an application for membership in
ERS or TRS no later than December 31, 2018.

Section 2 provides this act shall take effect immediately.

 JUSTIFICATION :

The SUNY Optional Retirement Program is a defined contribution plan
and was established in 1964 as an alternative retirement option to
membership in ERS and TRS. All full-time employees in the unclassified
service are eligible to participate in the optional plan; should a
member fail to elect participation, they are be automatically placed
in ERS or TRS depending on title.

Under current law, should an optional plan participant leave SUNY and
commence employment with another New York State agency and thus become
a member of ERS or TRS, they will not be permitted to establish credit
for any service for which the state contributions under the optional
plan were made on their behalf.

This bill would allow individuals to both apply for membership in ERS
and/or TRS and to purchase past-service credit for the period of time
the eligible employee participated in the ORP.

 PRIOR LEGISLATIVE HISTORY :

 FISCAL IMPLICATIONS :

TBD.

 EFFECTIVE DATE :
Immediately.

2017-S6435 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6435
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 18, 2017
                                ___________
 
 Introduced  by Sen. FLANAGAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT to amend the retirement and social security law, in  relation  to
   transfer of retirement membership for certain employees of SUNY within
   the professional, scientific and technical bargaining unit

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The retirement and social security law is amended by adding
 a new section 618 to read as follows:
   § 618. TRANSFER OF MEMBERSHIP INTO NEW YORK STATE AND LOCAL EMPLOYEES'
 RETIREMENT SYSTEM. A. DEFINITIONS. WHENEVER USED IN THIS SECTION:
   1. THE TERM "ELIGIBLE EMPLOYEE" SHALL MEAN A  PERSON  WHO  AS  OF  THE
 EFFECTIVE DATE OF THIS SECTION IS AN EMPLOYEE OF THE STATE UNIVERSITY OF
 NEW YORK IN A POSITION WITHIN THE PROFESSIONAL, SCIENTIFIC AND TECHNICAL
 BARGAINING  UNIT  AND WHO IS, AS OF SAID EFFECTIVE DATE, A MEMBER OF THE
 OPTIONAL RETIREMENT PROGRAM AND WHO IS  A  REGISTERED  NURSE  WHO  FIRST
 BECAME  AN  EMPLOYEE  OF THE STATE UNIVERSITY OF NEW YORK AT STONY BROOK
 HOSPITAL ON A DATE BETWEEN JANUARY FIRST,  NINETEEN  HUNDRED  NINETY-SIX
 AND DECEMBER THIRTY-FIRST, NINETEEN HUNDRED NINETY-NINE AND WHO IS STILL
 EMPLOYED BY THE STATE UNIVERSITY OF NEW YORK AS OF THE DATE SAID EMPLOY-
 EE FILES AN APPLICATION PURSUANT TO SUBDIVISION B OF THIS SECTION;
   2.  THE  TERM  "OPTIONAL  RETIREMENT  PROGRAM" SHALL MEAN THE OPTIONAL
 RETIREMENT PROGRAM ESTABLISHED PURSUANT TO ARTICLE EIGHT-B OF THE EDUCA-
 TION LAW.
   B. NOTWITHSTANDING ANY OTHER PROVISION OF LAW,  AN  ELIGIBLE  EMPLOYEE
 SHALL  BE  ALLOWED  TO  BECOME  A MEMBER OF THE NEW YORK STATE AND LOCAL
 EMPLOYEES' RETIREMENT SYSTEM BY FILING AN APPLICATION WITH SAID  RETIRE-
 MENT SYSTEM NO LATER THAN DECEMBER THIRTY-FIRST, TWO THOUSAND EIGHTEEN.
   C. AN ELIGIBLE EMPLOYEE WHO FILES AN APPLICATION TO BECOME A MEMBER OF
 THE  NEW  YORK  STATE  AND  LOCAL  EMPLOYEES' RETIREMENT SYSTEM SHALL BE
 DEEMED TO BE A MEMBER OF THAT RETIREMENT SYSTEM WITH A DATE  OF  MEMBER-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD11575-03-7

 S. 6435                             2
 
 SHIP  AS  OF  THE  DATE SAID ELIGIBLE EMPLOYEE WAS FIRST EMPLOYED BY THE
 STATE UNIVERSITY OF NEW YORK. THE ELIGIBLE EMPLOYEE'S MEMBERSHIP IN  THE
 OPTIONAL RETIREMENT PROGRAM SHALL TERMINATE AS OF THE DATE SAID APPLICA-
 TION IS FILED.
   D. AN ELIGIBLE EMPLOYEE WHO BECOMES A MEMBER OF THE NEW YORK STATE AND
 LOCAL  EMPLOYEES'  RETIREMENT  SYSTEM  PURSUANT TO SUBDIVISION B OF THIS
 SECTION MAY ELECT TO PURCHASE CREDIT FOR PREVIOUS SERVICE FOR ANY PERIOD
 DURING WHICH SAID EMPLOYEE WAS  A  MEMBER  OF  THE  OPTIONAL  RETIREMENT
 PROGRAM  BY  FILING  AN  APPLICATION  WITH  THE NEW YORK STATE AND LOCAL
 EMPLOYEES' RETIREMENT SYSTEM NO LATER THAN  DECEMBER  THIRTY-FIRST,  TWO
 THOUSAND  EIGHTEEN  AND BY PAYING TO SAID RETIREMENT SYSTEM AN AMOUNT AS
 DETERMINED BY THE COMPTROLLER EQUAL TO THE FULL COST  OF  SUCH  PREVIOUS
 SERVICE CREDIT PURCHASED WHICH SHALL INCLUDE AN AMOUNT EQUIVALENT TO THE
 ADDITIONAL  COSTS TO THE EMPLOYER OF PROVIDING RETIREMENT SERVICE CREDIT
 TO SUCH EMPLOYEE WHILE SUCH  EMPLOYEE  WAS  A  MEMBER  OF  THE  OPTIONAL
 RETIREMENT  PROGRAM  AS  DETERMINED  BY  THE  ACTUARY FOR THE RETIREMENT
 SYSTEM. SAID PAYMENT MAY BE MADE BY A TRANSFER OF FUNDS FROM THE EMPLOY-
 EE'S OPTIONAL RETIREMENT PROGRAM ACCOUNT TO THE NEW YORK STATE AND LOCAL
 EMPLOYEES' RETIREMENT SYSTEM. SAID PAYMENT  MAY  ALSO  BE  MADE  IN  ONE
 PAYMENT  BY  THE  EMPLOYEE  OR BY PAYROLL DEDUCTION OVER A PERIOD NOT TO
 EXCEED FIVE YEARS.
   § 2. This act shall take effect immediately.

2017-S6435A - Details

See Assembly Version of this Bill:: A8402
Law Section:: Retirement and Social Security Law
Laws Affected:: Add §618, R & SS L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S6110, S8696, A8008, A9853
2021-2022: A4460

2017-S6435A - Summary

Relates to transfer of retirement membership for certain employees of SUNY within the professional, scientific and technical bargaining unit.

2017-S6435A - Sponsor Memo

                                 BILL NUMBER:  S6435A

 TITLE OF BILL :

An act to amend the retirement and social security law, in relation to
transfer of retirement membership for certain employees of SUNY within
the professional, scientific and technical bargaining unit

 PURPOSE :

To allow certain employees, who are participants in the Optional
Retirement Program (ORP) established pursuant to article 8-b of the
New York State Education Law, to join the New York State and Local
Retirement System (ERS) or the New York State Teachers Retirement
System (TRS) and to purchase credit for past-service accrued while
participating in the ORP.

 SUMMARY OF PROVISIONS :

Section 1 of the bill defined an "eligible employee" as an individual
who, as of the effective date of this Act, is an active employee of
the State University of New York (SUNY) in the professional,
scientific and technical bargaining unit, a participant in the ORP,
who is a registered nurse first employed of SUNY Stony Brook Hospital
between the dates January 1, 1996 and December 31, 1999, and as of the
date of their transfer application, is still an active SUNY employee.

Such eligible employees must submit an application for membership in
ERS or TRS no later than December 31, 2018.

Section 2 provides this act shall take effect immediately.

 JUSTIFICATION :

The SUNY Optional Retirement Program is a defined contribution plan
and was established in 1964 as an alternative retirement option to
membership in ERS and TRS. All full-time employees in the unclassified
service are eligible to participate in the optional plan; should a
member fail to elect participation, they are be automatically placed
in ERS or TRS depending on title.

Under current law, should an optional plan participant leave SUNY and
commence employment with another New York State agency and thus become
a member of ERS or TRS, they will not be permitted to establish credit
for any service for which the state contributions under the optional
plan were made on their behalf.

This bill would allow individuals to both apply for membership in ERS
and/or TRS and to purchase past-service credit for the period of time
the eligible employee participated in the ORP.

 PRIOR LEGISLATIVE HISTORY :

 FISCAL IMPLICATIONS :

TBD.

 EFFECTIVE DATE :
Immediately.

2017-S6435A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6435--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 18, 2017
                                ___________
 
 Introduced  by Sen. FLANAGAN -- 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  to amend the retirement and social security law, in relation to
   transfer of retirement membership for certain employees of SUNY within
   the professional, scientific and technical bargaining unit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The retirement and social security law is amended by adding
 a new section 618 to read as follows:
   § 618. TRANSFER OF MEMBERSHIP INTO NEW YORK STATE AND LOCAL EMPLOYEES'
 RETIREMENT SYSTEM. A. DEFINITIONS. WHENEVER USED IN THIS SECTION:
   1.  THE  TERM  "ELIGIBLE  EMPLOYEE"  SHALL MEAN A PERSON WHO AS OF THE
 EFFECTIVE DATE OF THIS SECTION IS AN EMPLOYEE OF THE STATE UNIVERSITY OF
 NEW YORK IN A POSITION WITHIN THE PROFESSIONAL, SCIENTIFIC AND TECHNICAL
 BARGAINING UNIT AND WHO IS, AS OF SAID EFFECTIVE DATE, A MEMBER  OF  THE
 OPTIONAL  RETIREMENT  PROGRAM  AND  WHO  IS A REGISTERED NURSE WHO FIRST
 BECAME AN EMPLOYEE OF THE STATE UNIVERSITY OF NEW YORK  AT  STONY  BROOK
 HOSPITAL  ON  A  DATE BETWEEN JANUARY FIRST, NINETEEN HUNDRED NINETY-SIX
 AND DECEMBER THIRTY-FIRST, NINETEEN HUNDRED NINETY-NINE AND WHO IS STILL
 EMPLOYED BY THE STATE UNIVERSITY OF NEW YORK AS OF THE DATE SAID EMPLOY-
 EE FILES AN APPLICATION PURSUANT TO SUBDIVISION B OF THIS SECTION;
   2. THE TERM "OPTIONAL RETIREMENT  PROGRAM"  SHALL  MEAN  THE  OPTIONAL
 RETIREMENT PROGRAM ESTABLISHED PURSUANT TO ARTICLE EIGHT-B OF THE EDUCA-
 TION LAW.
   B.  NOTWITHSTANDING  ANY  OTHER PROVISION OF LAW, AN ELIGIBLE EMPLOYEE
 SHALL BE ALLOWED TO BECOME A MEMBER OF THE  NEW  YORK  STATE  AND  LOCAL
 EMPLOYEES'  RETIREMENT SYSTEM BY FILING AN APPLICATION WITH SAID RETIRE-
 MENT SYSTEM NO LATER THAN DECEMBER THIRTY-FIRST, TWO THOUSAND EIGHTEEN.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11575-04-7

 S. 6435--A                          2
 
   C. AN ELIGIBLE EMPLOYEE WHO FILES AN APPLICATION TO BECOME A MEMBER OF
 THE NEW YORK STATE AND  LOCAL  EMPLOYEES'  RETIREMENT  SYSTEM  SHALL  BE
 DEEMED  TO  BE A MEMBER OF THAT RETIREMENT SYSTEM WITH A DATE OF MEMBER-
 SHIP AS OF THE DATE SAID ELIGIBLE EMPLOYEE WAS  FIRST  EMPLOYED  BY  THE
 STATE  UNIVERSITY OF NEW YORK. THE ELIGIBLE EMPLOYEE'S MEMBERSHIP IN THE
 OPTIONAL RETIREMENT PROGRAM SHALL TERMINATE AS OF THE DATE SAID APPLICA-
 TION IS FILED.
   D. AN ELIGIBLE EMPLOYEE WHO BECOMES A MEMBER OF THE NEW YORK STATE AND
 LOCAL EMPLOYEES' RETIREMENT SYSTEM PURSUANT TO  SUBDIVISION  B  OF  THIS
 SECTION MAY ELECT TO PURCHASE CREDIT FOR PREVIOUS SERVICE FOR ANY PERIOD
 DURING  WHICH  SAID  EMPLOYEE  WAS  A  MEMBER OF THE OPTIONAL RETIREMENT
 PROGRAM BY FILING AN APPLICATION WITH  THE  NEW  YORK  STATE  AND  LOCAL
 EMPLOYEES'  RETIREMENT  SYSTEM  NO LATER THAN DECEMBER THIRTY-FIRST, TWO
 THOUSAND EIGHTEEN AND BY PAYING TO SAID RETIREMENT SYSTEM AN  AMOUNT  AS
 DETERMINED  BY  THE  COMPTROLLER EQUAL TO THE FULL COST OF SUCH PREVIOUS
 SERVICE CREDIT PURCHASED WHICH SHALL INCLUDE AN AMOUNT EQUIVALENT TO THE
 ADDITIONAL COSTS TO THE EMPLOYER OF PROVIDING RETIREMENT SERVICE  CREDIT
 TO  SUCH  EMPLOYEE  WHILE  SUCH  EMPLOYEE  WAS  A MEMBER OF THE OPTIONAL
 RETIREMENT PROGRAM AS DETERMINED  BY  THE  ACTUARY  FOR  THE  RETIREMENT
 SYSTEM. SAID PAYMENT MAY BE MADE BY A TRANSFER OF FUNDS FROM THE EMPLOY-
 EE'S OPTIONAL RETIREMENT PROGRAM ACCOUNT TO THE NEW YORK STATE AND LOCAL
 EMPLOYEES'  RETIREMENT  SYSTEM.  SAID  PAYMENT  MAY  ALSO BE MADE IN ONE
 PAYMENT BY THE EMPLOYEE OR BY PAYROLL DEDUCTION OVER  A  PERIOD  NOT  TO
 EXCEED FIVE YEARS.
   § 2. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill will allow any employee of the State University of New York
 (SUNY) who is a registered nurse in a position  with  the  Professional,
 Scientific and Technical bargaining unit, who first became employed with
 SUNY  at  Stony  Brook Hospital between January 1, 1996 and December 31,
 1999, and who enrolled in the Optional Retirement Program, to  terminate
 their memberships in the Optional Retirement Program and to be deemed to
 be  members of the New York State and Local Employees' Retirement System
 (NYSLERS) with a date of membership as of the date of  first  employment
 by  SUNY. Affected members will have to pay the entire past service cost
 as determined by the Comptroller in  order  to  get  retirement  service
 credit for the service rendered before their dates of membership.
   If  this  bill is enacted, the number of employees who may be affected
 by this legislation cannot be readily determined. For every employee who
 does so elect, there will be an annual cost to the State of New York  of
 approximately 16.0% of salary for the fiscal year ending March 31, 2018.
   In addition to the annual cost above, for every member who elects this
 benefit,  there will be a past service cost that will depend on the age,
 service and salary of the member. The members will  be  able  to  offset
 this  cost  by  the  transfer  of  funds  from their Optional Retirement
 Program balances. For an individual member, if  the  amount  transferred
 from the Optional Retirement Program is less than the past service cost,
 the  member  will be have to make up the difference either as a one-time
 payment or by making a series of payments over  a  period  of  five  (5)
 years.
   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.

 S. 6435--A                          3
 
   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, date May 11, 2017, and intended for use only during the
 2017 Legislative Session, is Fiscal Note No. 2017-95,  prepared  by  the
 Actuary for the New York State and Local Retirement System.

co-Sponsors

2017-S6435B (ACTIVE) - Details

See Assembly Version of this Bill:: A8402
Law Section:: Retirement and Social Security Law
Laws Affected:: Add §618, R & SS L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S6110, S8696, A8008, A9853
2021-2022: A4460

2017-S6435B (ACTIVE) - Summary

Relates to transfer of retirement membership for certain employees of SUNY within the professional, scientific and technical bargaining unit.

2017-S6435B (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S6435B

SPONSOR: FLANAGAN
 
TITLE OF BILL:  An act to amend the retirement and social security
law, in relation to transfer of retirement membership for certain
employees of SUNY within the professional, scientific and technical
bargaining unit

 
PURPOSE:

To allow certain employees, who are participants in the Optional Retire-
ment Program (ORP) established pursuant to article 8-b of the New York
State Education Law, to join the New York State and Local Retirement
System (ERS) or the New York State Teachers Retirement System (IRS) and
to purchase credit for past-service accrued while participating in the
ORP.

 
SUMMARY OF PROVISIONS:

Section 1 of the bill defined an "eligible employee" as an individual
who, as of the effective date of this Act, is an active employee of the

State University of New York (SUNY) in the professional, scientific and
technical bargaining unit, a participant in the ORP, who is a registered
nurse first employed of SUNY Stony Brook Hospital between the dates
January 1, 1996 and December 31, 1999, and as of the date of their
transfer application, is still an active SUNY employee. Such eligible
employees must submit an application for membership in ERS or TRS no
later than December 31, 2018.

Section 2 provides this act shall take effect immediately.

 
JUSTIFICATION:

The SUNY Optional Retirement Program is a defined contribution plan and
was established in 1964 as an alternative retirement option to member-
ship in ERS and TRS. All full-time employees in the unclassified service
are eligible to participate in the optional plan; should a member fail
to elect participation, they are be automatically placed in ERS or TRS
depending on title.

Under current law, should an optional plan participant leave SUNY and
commence employment with another New York State agency and thus become a
member of ERS or TRS, they will not be permitted to establish credit for
any service for which the state contributions under the optional plan
were made on their behalf.

This bill would allow individuals to both apply for membership in ERS
and/or TRS and to purchase past-service credit for the period of time
the eligible employee participated in the ORP.

 
PRIOR LEGISLATIVE HISTORY:

 
FISCAL IMPLICATIONS:

TBD.

 
EFFECTIVE DATE:
Immediately.

2017-S6435B (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6435--B
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 18, 2017
                                ___________
 
 Introduced  by Sen. FLANAGAN -- 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 -- recommitted to the Committee on
   Civil Service and Pensions in accordance with Senate Rule 6, sec. 8 --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee
 
 AN  ACT  to amend the retirement and social security law, in relation to
   transfer of retirement membership for certain employees of SUNY within
   the professional, scientific and technical bargaining unit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The retirement and social security law is amended by adding
 a new section 618 to read as follows:
   § 618. TRANSFER OF MEMBERSHIP INTO NEW YORK STATE AND LOCAL EMPLOYEES'
 RETIREMENT SYSTEM. A. DEFINITIONS. WHENEVER USED IN THIS SECTION:
   1.  THE  TERM  "ELIGIBLE  EMPLOYEE"  SHALL MEAN A PERSON WHO AS OF THE
 EFFECTIVE DATE OF THIS SECTION IS AN EMPLOYEE OF THE STATE UNIVERSITY OF
 NEW YORK IN A POSITION WITHIN THE PROFESSIONAL, SCIENTIFIC AND TECHNICAL
 BARGAINING UNIT AND WHO IS, AS OF SAID EFFECTIVE DATE, A MEMBER  OF  THE
 OPTIONAL  RETIREMENT  PROGRAM  AND  WHO  IS A REGISTERED NURSE WHO FIRST
 BECAME AN EMPLOYEE OF THE STATE UNIVERSITY OF NEW YORK  AT  STONY  BROOK
 HOSPITAL  ON  A  DATE BETWEEN JANUARY FIRST, NINETEEN HUNDRED NINETY-SIX
 AND DECEMBER THIRTY-FIRST, NINETEEN HUNDRED NINETY-NINE AND WHO IS STILL
 EMPLOYED BY THE STATE UNIVERSITY OF NEW YORK AS OF THE DATE SAID EMPLOY-
 EE FILES AN APPLICATION PURSUANT TO SUBDIVISION B OF THIS SECTION;
   2. THE TERM "OPTIONAL RETIREMENT  PROGRAM"  SHALL  MEAN  THE  OPTIONAL
 RETIREMENT PROGRAM ESTABLISHED PURSUANT TO ARTICLE EIGHT-B OF THE EDUCA-
 TION LAW.
   B.  NOTWITHSTANDING  ANY  OTHER PROVISION OF LAW, AN ELIGIBLE EMPLOYEE
 SHALL BE ALLOWED TO BECOME A MEMBER OF THE  NEW  YORK  STATE  AND  LOCAL
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD11575-09-8

 S. 6435--B                          2
 
 EMPLOYEES'  RETIREMENT SYSTEM BY FILING AN APPLICATION WITH SAID RETIRE-
 MENT SYSTEM NO LATER THAN DECEMBER THIRTY-FIRST, TWO THOUSAND NINETEEN.
   C. AN ELIGIBLE EMPLOYEE WHO FILES AN APPLICATION TO BECOME A MEMBER OF
 THE  NEW  YORK  STATE  AND  LOCAL  EMPLOYEES' RETIREMENT SYSTEM SHALL BE
 DEEMED TO BE A MEMBER OF THAT RETIREMENT SYSTEM WITH A DATE  OF  MEMBER-
 SHIP  AS  OF  THE  DATE SAID ELIGIBLE EMPLOYEE WAS FIRST EMPLOYED BY THE
 STATE UNIVERSITY OF NEW YORK. THE ELIGIBLE EMPLOYEE'S MEMBERSHIP IN  THE
 OPTIONAL RETIREMENT PROGRAM SHALL TERMINATE AS OF THE DATE SAID APPLICA-
 TION IS FILED.
   D. AN ELIGIBLE EMPLOYEE WHO BECOMES A MEMBER OF THE NEW YORK STATE AND
 LOCAL  EMPLOYEES'  RETIREMENT  SYSTEM  PURSUANT TO SUBDIVISION B OF THIS
 SECTION MAY ELECT TO PURCHASE CREDIT FOR PREVIOUS SERVICE FOR ANY PERIOD
 DURING WHICH SAID EMPLOYEE WAS  A  MEMBER  OF  THE  OPTIONAL  RETIREMENT
 PROGRAM  BY  FILING  AN  APPLICATION  WITH  THE NEW YORK STATE AND LOCAL
 EMPLOYEES' RETIREMENT SYSTEM NO LATER THAN  DECEMBER  THIRTY-FIRST,  TWO
 THOUSAND  NINETEEN  AND BY PAYING TO SAID RETIREMENT SYSTEM AN AMOUNT AS
 DETERMINED BY THE COMPTROLLER EQUAL TO THE FULL COST  OF  SUCH  PREVIOUS
 SERVICE CREDIT PURCHASED WHICH SHALL INCLUDE AN AMOUNT EQUIVALENT TO THE
 ADDITIONAL  COSTS TO THE EMPLOYER OF PROVIDING RETIREMENT SERVICE CREDIT
 TO SUCH EMPLOYEE WHILE SUCH  EMPLOYEE  WAS  A  MEMBER  OF  THE  OPTIONAL
 RETIREMENT  PROGRAM  AS  DETERMINED  BY  THE  ACTUARY FOR THE RETIREMENT
 SYSTEM. SAID PAYMENT MAY BE MADE BY A TRANSFER OF FUNDS FROM THE EMPLOY-
 EE'S OPTIONAL RETIREMENT PROGRAM ACCOUNT TO THE NEW YORK STATE AND LOCAL
 EMPLOYEES' RETIREMENT SYSTEM. SAID PAYMENT  MAY  ALSO  BE  MADE  IN  ONE
 PAYMENT  BY  THE  EMPLOYEE  OR BY PAYROLL DEDUCTION OVER A PERIOD NOT TO
 EXCEED FIVE YEARS.
   § 2. Notwithstanding any other provision of law to the contrary,  none
 of  the  provisions  of  this  act shall be subject to section 25 of the
 retirement and social security law.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill will allow any employee of the State University of New  York
 (SUNY)  who is a registered nurse in a position within the Professional,
 Scientific and Technical bargaining unit, who first became employed with
 SUNY at Stony Brook Hospital between January 1, 1996  and  December  31,
 1999,  and who enrolled in the Optional Retirement Program, to terminate
 their memberships in the Optional Retirement Program and to be deemed to
 be members of the New York State and Local Employees' Retirement  System
 (NYSLERS)  with  a date of membership as of the date of first employment
 by SUNY. Affected members will have to pay the entire past service  cost
 as  determined  by  the  Comptroller  in order to get retirement service
 credit for the service rendered before their dates of membership.
   If this bill is enacted, the number of employees who may  be  affected
 by this legislation cannot be readily determined. For every employee who
 does  so elect, there will be an annual cost to the State of New York of
 approximately 15.8% of salary for the fiscal year ending March 31, 2019.
   In addition to the annual cost above, for every member who elects this
 benefit, there will be a past service cost that will depend on the  age,
 service  and  salary  of  the member. The members will be able to offset
 this cost by the  transfer  of  funds  from  their  Optional  Retirement
 Program  balances.  For  an individual member, if the amount transferred
 from the Optional Retirement Program is less than the past service cost,
 the member will be have to make up the difference either as  a  one-time
 payment  or  by  making  a  series of payments over a period of five (5)
 years.
   Summary of relevant resources:

 S. 6435--B                          3
 
   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 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, 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 June 1, 2018, and intended for  use  only  during
 the  2018  Legislative Session, is Fiscal Note No. 2018-119, prepared by
 the Actuary for the New York State and Local Retirement System.

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Senate Bill S6435B

Sponsored By

Archive: Last Bill Status Via A8402 - Vetoed by Governor

Jun 19, 2018 - Floor Vote

Floor Vote: Jun 19, 2018

Jun 19, 2018 - Rules Committee Vote

Rules Committee Vote: Jun 19, 2018

Bill Amendments

2017-S6435 - Details

2017-S6435 - Summary

2017-S6435 - Sponsor Memo

2017-S6435 - Bill Text download pdf

2017-S6435A - Details

2017-S6435A - Summary

2017-S6435A - Sponsor Memo

2017-S6435A - Bill Text download pdf

co-Sponsors

2017-S6435B (ACTIVE) - Details

2017-S6435B (ACTIVE) - Summary

2017-S6435B (ACTIVE) - Sponsor Memo

2017-S6435B (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S6435B

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Sponsored By

John J. Flanagan

Archive: Last Bill Status Via A8402 - Vetoed by Governor

Bill Amendments

2017-S6435 - Details

2017-S6435 - Summary

2017-S6435 - Sponsor Memo

2017-S6435 - Bill Text download pdf

2017-S6435A - Details

2017-S6435A - Summary

2017-S6435A - Sponsor Memo

2017-S6435A - Bill Text download pdf

co-Sponsors

Tony Avella

2017-S6435B (ACTIVE) - Details

2017-S6435B (ACTIVE) - Summary

2017-S6435B (ACTIVE) - Sponsor Memo

2017-S6435B (ACTIVE) - Bill Text download pdf

Comments