S T A T E O F N E W Y O R K
________________________________________________________________________
7667
I N S E N A T E
February 6, 2018
___________
Introduced by Sen. STAVISKY -- 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 a
waiver of earnings limitation for certain retirees of the New York
state and local police and fire retirement system who are employed by
the state university
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subparagraphs 6 and 7 of paragraph (a) of subdivision 2 of
section 211 of the retirement and social security law, subparagraph 6 as
amended by chapter 753 of the laws of 1976 and subparagraph 7 as amended
by chapter 840 of the laws of 1983, are amended and a new subparagraph 8
is added to read as follows:
(6) the chancellor of state university if such person is to be
employed in the unclassified service of the state university of New
York, or in the professional service at the state colleges of agricul-
ture, home economics, veterinary medicine or industrial and labor
relations, the state agricultural experiment station at Geneva or any
other institution or agency under the management and control of Cornell
university as representative of the board of trustees of THE state
university of New York, or at the state college of ceramics under the
management and control of Alfred university as representative of the
board of trustees of THE state university of New York or in the unclas-
sified service of a community college other than those in the city of
New York, OR IF SUCH PERSON IS A RETIRED MEMBER OF THE NEW YORK STATE
AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM AND IS TO BE EMPLOYED AS A
FACULTY MEMBER, PROVIDED, HOWEVER, THAT NO WAIVER SHALL BE GRANTED
PURSUANT TO THIS SUBDIVISION FOR ANY UNIVERSITY LAW ENFORCEMENT TITLE;
or
(7) the chief administrator of the courts if such person is to be
employed in a judicial or nonjudicial position in the unified court
system[.]; OR
(8) THE PRESIDENT OF A COMMUNITY COLLEGE UNDER A PROGRAM OF THE STATE
UNIVERSITY OF NEW YORK, IF SUCH PERSON IS A RETIRED MEMBER OF THE NEW
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04504-02-8
S. 7667 2
YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM AND IS TO BE
EMPLOYED AS A MEMBER OF THE FACULTY OR AS DIRECTOR OF PUBLIC SAFETY.
§ 2. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill will allow retired police officers and retired firefighters
of the New York State and Local Police and Fire Retirement System to
work as an employee of the state university as a faculty member or to
work as an employee of a community college as a faculty member or direc-
tor of public safety and continue to receive their retirement benefits,
without suspension or diminution of such benefits, provided they have
been granted a waiver of retirement earnings limitations by the chancel-
lor of the state university of New York or the president of a community
college under a program of the state university.
If this bill is enacted, we expect few retirees of the New York State
and Local Police and Fire Retirement System to be affected. There would
be negligible additional annual costs.
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 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 January 31, 2018, and intended for use only
during the 2018 Legislative Session, is Fiscal Note No. 2018-50,
prepared by the Actuary for the New York State and Local Retirement
System.