[ ] is old law to be omitted.
LBD11234-03-9
A. 9873 2
SOR SURFACE ONE, MAINTENANCE SUPERVISOR TELEPHONES ONE, MAINTENANCE
SUPERVISOR TRACK EQUIPMENT ONE, MAINTENANCE SUPERVISOR TRACK ONE, MAIN-
TENANCE SUPERVISOR VENTILATION AND DRAINAGE ONE, MAINTENANCE SUPERVISOR
VENTILATION ONE BUSES, POWERS AND SIGNALS SUPERVISOR, STATEN ISLAND
RAILWAY OPERATIONS SUPERVISOR, STOREROOM SUPERVISOR, SUPERINTENDENT
ADMINISTRATION AND TIMEKEEPING, SUPERVISOR INFRASTRUCTURE, SUPERVISOR
MAINTENANCE, SUPERVISOR STATION ONE, TRAIN SERVICE SUPERVISOR, TRANSIT
PROPERTY PROTECTION SUPERVISOR ONE, YARD DISPATCHER RAPID TRANSIT OPER-
ATIONS, COLLECTION SUPERVISOR REVENUE TWO, DISPATCHER ONE SURFACE
QUEENS, MAINTENANCE SUPERVISOR CAR EQUIPMENT TWO, MAINTENANCE SUPERVISOR
ELECTRIC EQUIPMENT TWO, MAINTENANCE SUPERVISOR ELECTRIC POWER TWO, MAIN-
TENANCE SUPERVISOR ELEVATED TWO, MAINTENANCE SUPERVISOR LIGHTING TWO,
MAINTENANCE SUPERVISOR POWER CABLES TWO, MAINTENANCE SUPERVISOR POWER
DISTRIBUTION TWO, MAINTENANCE SUPERVISOR REVENUE TWO, MAINTENANCE SUPER-
VISOR SIGNALS TWO, MAINTENANCE SUPERVISOR STRUCTURE A CARPENTER TWO,
MAINTENANCE SUPERVISOR STRUCTURE B MASONRY TWO, MAINTENANCE SUPERVISOR
STRUCTURE C IRONWORK TWO, MAINTENANCE SUPERVISOR STRUCTURE D SHEETMETAL
TWO, MAINTENANCE SUPERVISOR STRUCTURE E PLUMBING TWO, MAINTENANCE SUPER-
VISOR STRUCTURE F PAINTING TWO, MAINTENANCE SUPERVISOR STRUCTURE H AIR
COOL TWO, MAINTENANCE SUPERVISOR SURFACE ONE QUEENS, MAINTENANCE SUPER-
VISOR TELEPHONES TWO, MAINTENANCE SUPERVISOR TRACK EQUIPMENT TWO, MAIN-
TENANCE SUPERVISOR TRACK TWO, MAINTENANCE SUPERVISOR VENTILATION TWO,
SUPERVISOR STATION TWO, TRANSIT PROPERTY PROTECTION TWO, CAR INSPECTOR
ASSIGNMENT A, CAR INSPECTOR ASSIGNMENT B, CAR INSPECTOR B 01-E, CAR
MAINTAINER B, CAR MAINTAINER B 01-E, CAR MAINTAINER C, CLEANER (LABOR)
STATION MAINTENANCE HELPER, CLEANER (TRANSIT AUTHORITY LABOR) AMALGAMAT-
ED TRANSIT UNION Q1056, CLEANER (TRANSIT AUTHORITY LABOR) AMALGAMATED
TRANSIT UNION S1726, CLEANER (TRANSIT AUTHORITY LABOR) TWU LOCAL 100
01-D, CLEANER/ STATION MAINTENANCE HELPER, COLLECTING AGENT, COLLECTING
AGENT 01-F, CONDUCTOR (CONSTRUCTION AND FLAGGING), CONDUCTOR, LIGHT
MAINTAINER, MAINTAINER (ELECTRONIC EQUIPMENT), MAINTAINER ONE (REVENUE
EQUIPMENT), MECHANICAL MAINTAINER C, POWER CABLE MAINTAINER, POWER
DISTRIBUTION MAINTAINER, POWER ELECTRONIC MAINTAINER, POWER ELECTRONIC
TECHNICIAN, POWER MAINTAINER B, QUALITY CONTROL SPECIALIST, RAILROAD
STOCK WORKER ONE, RAILROAD STOCK WORKER TWO, RAILROAD TRACK CLEANER,
ROAD CAR INSPECTOR, SIGNAL MAINTAINER, STATION AGENT NON AUTOMATED FARE
COLLECTION, STATION AGENT AUTOMATED FARE COLLECTION, STATION AGENT PAID
AS COLLECTING AGENT, STRUCTURE MAINTAINER A, STRUCTURE MAINTAINER B,
STRUCTURE MAINTAINER C, STRUCTURE MAINTAINER D, STRUCTURE MAINTAINER E,
STRUCTURE MAINTAINER F, STRUCTURE MAINTAINER G, TA ELECTRONIC HELPER
POWER DISTRIBUTION 01-F, TA ELECTRONIC MECHANICAL MAINTENANCE (VENTI-
LATION) 01-E, TA ELECTRONIC HELPER LIGHTING 01-F, TA ELECTRONIC HELPER
POWER 01-F, TA ELECTRONIC HELPER SIGNALS 01-F, TA ELECTRONIC MECHANICAL
MAINTENANCE 01-E, TA ELECTRONIC MECHANICAL MAINTENANCE HEATING VENTI-
LATION AND COOLING 01-E, TA PROPERTY PROTECTION AGENT 01-F, TELEPHONE
MAINTAINER, TOWER OPERATOR, TRACK EQUIPMENT MAINTAINER, TRACK WORKER,
TRACK WORKER (SPECIALIST), TRAIN OPERATOR (REVENUE VEHICLES), TRAIN
OPERATOR (YARD), TRANSIT ELECTRONIC HELPER ELEVATED, TRANSIT ELECTRONIC
HELPER LIGHTING, TRANSIT ELECTRONIC HELPER POWER, TRANSIT ELECTRONIC
HELPER POWER DISTRIBUTION, TRANSIT ELECTRONIC HELPER SIGNALS, TRANSIT
ELECTRICAL APPRENTICE, TRANSIT ELECTRONIC MECHANICAL MAINTAINER
ELEVATED, TRANSIT ELECTRONIC MECHANICAL MAINTAINER HEATING VENTILATION
AND COOLING, TRANSIT ELECTRONIC MECHANICAL MAINTAINER VENTILATION, TRAN-
SIT PROPERTY PROTECTION AGENT, TRANSIT RAILCAR TECHNICAL SPECIALIST ONE,
TRANSIT RAILCAR TECHNICAL SPECIALIST ONE OPERATIONS, TRANSIT RAILCAR
TECHNICAL SPECIALIST TWO, TRANSIT RAILCAR TECHNICAL SPECIALIST TWO OPER-
A. 9873 3
ATIONS, TRANSIT RAILCAR TECHNICAL SPECIALIST THREE, TRANSIT RAILCAR
TECHNICAL SPECIALIST THREE OPERATIONS, TRANSIT RAILCAR TECHNICAL
SPECIALIST FOUR, TRANSIT RAILCAR TECHNICAL SPECIALIST FOUR OPERATIONS
AND TRANSIT RAILCAR TECHNICAL SPECIALIST INTERN.
B. A NEW YORK CITY MEMBER SHALL BE ENTITLED TO DISABILITY RETIREMENT
ALLOWANCE, IF, AT THE TIME APPLICATION THEREFOR IS FILED, SUCH MEMBER IS
PHYSICALLY INCAPACITATED FOR PERFORMANCE OF DUTY AS A RESULT OF ANY
CONDITION OF IMPAIRMENT OF HEALTH CAUSED BY DISEASES OF THE LUNG WHILE
SO EMPLOYED AND AS A RESULT OF HIS OR HER EMPLOYMENT.
C. NOTWITHSTANDING ANY PROVISION OF THIS CHAPTER OR OF ANY GENERAL,
SPECIAL OR LOCAL LAW TO THE CONTRARY, ANY NEW YORK CITY MEMBER WHO IS
DIAGNOSED WITH ANY CONDITION OF IMPAIRMENT OF HEALTH CAUSED BY DISEASES
OF THE LUNG, RESULTING IN DISABILITY TO SUCH MEMBER, PRESENTLY EMPLOYED,
AND WHO SHALL HAVE SUSTAINED SUCH DISABILITY WHILE SO EMPLOYED, SHALL
HAVE SUCH DIAGNOSIS BE PRESUMPTIVE EVIDENCE THAT SUCH DISABILITY WAS
INCURRED IN THE PERFORMANCE AND DISCHARGE OF DUTY, UNLESS THE CONTRARY
BE PROVEN BY COMPETENT EVIDENCE.
D. THE ANNUAL RETIREMENT ALLOWANCE PAYABLE SHALL BE EQUAL TO THE
THREE-QUARTERS OF HIS OR HER FINAL AVERAGE SALARY, SUBJECT TO SECTION
13-176 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
§ 2. The administrative code of the city of New York is amended by
adding a new section 13-168.1 to read as follows:
§ 13-168.1 DISABILITY RETIREMENT FOR CERTAIN NEW YORK CITY MEMBERS. A.
FOR THE PURPOSES OF THIS SECTION, A "NEW YORK CITY MEMBER" SHALL MEAN A
MEMBER EMPLOYED IN ANY OF THE FOLLOWING TITLES: ASSOCIATE TRANSIT
CUSTOMER SERVICE SPECIALIST TWO, ASSISTANT TRAIN DISPATCHER, COLLECTION
SUPERVISOR ONE, DISPATCHER ONE, DISPATCHER RAPID TRANSIT OPERATIONS,
ELECTRICAL SUPERVISOR, ELECTRONIC SUPERVISOR, LOCOMOTIVE ENGINE INSTRUC-
TOR SUPERVISOR, MAINTENANCE OF WAY INSTRUCTOR SUPERVISOR, MAINTENANCE
SUPERVISOR CAR EQUIPMENT ONE, MAINTENANCE SUPERVISOR ELECTRIC EQUIPMENT
ONE, MAINTENANCE SUPERVISOR ELECTRIC POWER ONE, MAINTENANCE SUPERVISOR
ELEVATED ONE, MAINTENANCE SUPERVISOR LIGHTING ONE, MAINTENANCE SUPERVI-
SOR LIGHTING ONE BUSES, MAINTENANCE SUPERVISOR POWER CABLES ONE, MAINTE-
NANCE SUPERVISOR POWER DISTRIBUTION ONE, MAINTENANCE SUPERVISOR POWER
ELECTRON ONE, MAINTENANCE SUPERVISOR REVENUE ONE, MAINTENANCE SUPERVISOR
SIGNALS ONE, MAINTENANCE SUPERVISOR STORES ONE, MAINTENANCE SUPERVISOR
STRUCTURE A CARPENTRY ONE BUSES, MAINTENANCE SUPERVISOR STRUCTURE A
CARPENTRY ONE, MAINTENANCE SUPERVISOR STRUCTURE B MASONRY ONE, MAINTE-
NANCE SUPERVISOR STRUCTURE B MASONRY ONE BUSES, MAINTENANCE SUPERVISOR
STRUCTURE C IRONWORK ONE, MAINTENANCE SUPERVISOR STRUCTURE C IRONWORK
ONE BUSES, MAINTENANCE SUPERVISOR STRUCTURE D SHEETMETAL ONE, MAINTE-
NANCE SUPERVISOR STRUCTURE E PLUMBING ONE, MAINTENANCE SUPERVISOR STRUC-
TURE E PLUMBING ONE BUSES, MAINTENANCE SUPERVISOR STRUCTURE F PAINTING
ONE, MAINTENANCE SUPERVISOR STRUCTURE F PAINTING ONE BUSES, MAINTENANCE
SUPERVISOR STRUCTURE H AIR COOLING AND HEATING ONE, MAINTENANCE SUPERVI-
SOR STRUCTURE H AIR COOLING AND HEATING ONE BUSES, MAINTENANCE SUPERVI-
SOR SURFACE ONE, MAINTENANCE SUPERVISOR TELEPHONES ONE, MAINTENANCE
SUPERVISOR TRACK EQUIPMENT ONE, MAINTENANCE SUPERVISOR TRACK ONE, MAIN-
TENANCE SUPERVISOR VENTILATION AND DRAINAGE ONE, MAINTENANCE SUPERVISOR
VENTILATION ONE BUSES, POWERS AND SIGNALS SUPERVISOR, STATEN ISLAND
RAILWAY OPERATIONS SUPERVISOR, STOREROOM SUPERVISOR, SUPERINTENDENT
ADMINISTRATION AND TIMEKEEPING, SUPERVISOR INFRASTRUCTURE, SUPERVISOR
MAINTENANCE, SUPERVISOR STATION ONE, TRAIN SERVICE SUPERVISOR, TRANSIT
PROPERTY PROTECTION SUPERVISOR ONE, YARD DISPATCHER RAPID TRANSIT OPER-
ATIONS, COLLECTION SUPERVISOR REVENUE TWO, DISPATCHER ONE SURFACE
QUEENS, MAINTENANCE SUPERVISOR CAR EQUIPMENT TWO, MAINTENANCE SUPERVISOR
A. 9873 4
ELECTRIC EQUIPMENT TWO, MAINTENANCE SUPERVISOR ELECTRIC POWER TWO, MAIN-
TENANCE SUPERVISOR ELEVATED TWO, MAINTENANCE SUPERVISOR LIGHTING TWO,
MAINTENANCE SUPERVISOR POWER CABLES TWO, MAINTENANCE SUPERVISOR POWER
DISTRIBUTION TWO, MAINTENANCE SUPERVISOR REVENUE TWO, MAINTENANCE SUPER-
VISOR SIGNALS TWO, MAINTENANCE SUPERVISOR STRUCTURE A CARPENTER TWO,
MAINTENANCE SUPERVISOR STRUCTURE B MASONRY TWO, MAINTENANCE SUPERVISOR
STRUCTURE C IRONWORK TWO, MAINTENANCE SUPERVISOR STRUCTURE D SHEETMETAL
TWO, MAINTENANCE SUPERVISOR STRUCTURE E PLUMBING TWO, MAINTENANCE SUPER-
VISOR STRUCTURE F PAINTING TWO, MAINTENANCE SUPERVISOR STRUCTURE H AIR
COOL TWO, MAINTENANCE SUPERVISOR SURFACE ONE QUEENS, MAINTENANCE SUPER-
VISOR TELEPHONES TWO, MAINTENANCE SUPERVISOR TRACK EQUIPMENT TWO, MAIN-
TENANCE SUPERVISOR TRACK TWO, MAINTENANCE SUPERVISOR VENTILATION TWO,
SUPERVISOR STATION TWO, TRANSIT PROPERTY PROTECTION TWO, CAR INSPECTOR
ASSIGNMENT A, CAR INSPECTOR ASSIGNMENT B, CAR INSPECTOR B 01-E, CAR
MAINTAINER B, CAR MAINTAINER B 01-E, CAR MAINTAINER C, CLEANER (LABOR)
STATION MAINTENANCE HELPER, CLEANER (TRANSIT AUTHORITY LABOR) AMALGAMAT-
ED TRANSIT UNION Q1056, CLEANER (TRANSIT AUTHORITY LABOR) AMALGAMATED
TRANSIT UNION S1726, CLEANER (TRANSIT AUTHORITY LABOR) TWU LOCAL 100
01-D, CLEANER/ STATION MAINTENANCE HELPER, COLLECTING AGENT, COLLECTING
AGENT 01-F, CONDUCTOR (CONSTRUCTION AND FLAGGING), CONDUCTOR, LIGHT
MAINTAINER, MAINTAINER (ELECTRONIC EQUIPMENT), MAINTAINER ONE (REVENUE
EQUIPMENT), MECHANICAL MAINTAINER C, POWER CABLE MAINTAINER, POWER
DISTRIBUTION MAINTAINER, POWER ELECTRONIC MAINTAINER, POWER ELECTRONIC
TECHNICIAN, POWER MAINTAINER B, QUALITY CONTROL SPECIALIST, RAILROAD
STOCK WORKER ONE, RAILROAD STOCK WORKER TWO, RAILROAD TRACK CLEANER,
ROAD CAR INSPECTOR, SIGNAL MAINTAINER, STATION AGENT NON AUTOMATED FARE
COLLECTION, STATION AGENT AUTOMATED FARE COLLECTION, STATION AGENT PAID
AS COLLECTING AGENT, STRUCTURE MAINTAINER A, STRUCTURE MAINTAINER B,
STRUCTURE MAINTAINER C, STRUCTURE MAINTAINER D, STRUCTURE MAINTAINER E,
STRUCTURE MAINTAINER F, STRUCTURE MAINTAINER G, TA ELECTRONIC HELPER
POWER DISTRIBUTION 01-F, TA ELECTRONIC MECHANICAL MAINTENANCE (VENTI-
LATION) 01-E, TA ELECTRONIC HELPER LIGHTING 01-F, TA ELECTRONIC HELPER
POWER 01-F, TA ELECTRONIC HELPER SIGNALS 01-F, TA ELECTRONIC MECHANICAL
MAINTENANCE 01-E, TA ELECTRONIC MECHANICAL MAINTENANCE HEATING VENTI-
LATION AND COOLING 01-E, TA PROPERTY PROTECTION AGENT 01-F, TELEPHONE
MAINTAINER, TOWER OPERATOR, TRACK EQUIPMENT MAINTAINER, TRACK WORKER,
TRACK WORKER (SPECIALIST), TRAIN OPERATOR (REVENUE VEHICLES), TRAIN
OPERATOR (YARD), TRANSIT ELECTRONIC HELPER ELEVATED, TRANSIT ELECTRONIC
HELPER LIGHTING, TRANSIT ELECTRONIC HELPER POWER, TRANSIT ELECTRONIC
HELPER POWER DISTRIBUTION, TRANSIT ELECTRONIC HELPER SIGNALS, TRANSIT
ELECTRICAL APPRENTICE, TRANSIT ELECTRONIC MECHANICAL MAINTAINER
ELEVATED, TRANSIT ELECTRONIC MECHANICAL MAINTAINER HEATING VENTILATION
AND COOLING, TRANSIT ELECTRONIC MECHANICAL MAINTAINER VENTILATION, TRAN-
SIT PROPERTY PROTECTION AGENT, TRANSIT RAILCAR TECHNICAL SPECIALIST ONE,
TRANSIT RAILCAR TECHNICAL SPECIALIST ONE OPERATIONS, TRANSIT RAILCAR
TECHNICAL SPECIALIST TWO, TRANSIT RAILCAR TECHNICAL SPECIALIST TWO OPER-
ATIONS, TRANSIT RAILCAR TECHNICAL SPECIALIST THREE, TRANSIT RAILCAR
TECHNICAL SPECIALIST THREE OPERATIONS, TRANSIT RAILCAR TECHNICAL
SPECIALIST FOUR, TRANSIT RAILCAR TECHNICAL SPECIALIST FOUR OPERATIONS
AND TRANSIT RAILCAR TECHNICAL SPECIALIST INTERN.
B. A NEW YORK CITY MEMBER SHALL BE ENTITLED TO DISABILITY RETIREMENT
ALLOWANCE, IF, AT THE TIME APPLICATION THEREFOR IS FILED, SUCH MEMBER IS
PHYSICALLY INCAPACITATED FOR PERFORMANCE OF DUTY AS A RESULT OF ANY
CONDITION OF IMPAIRMENT OF HEALTH CAUSED BY DISEASES OF THE LUNG WHILE
SO EMPLOYED AND AS A RESULT OF HIS OR HER EMPLOYMENT.
A. 9873 5
C. NOTWITHSTANDING ANY PROVISION OF THIS CHAPTER OR OF ANY GENERAL,
SPECIAL OR LOCAL LAW TO THE CONTRARY, ANY NEW YORK CITY MEMBER WHO IS
DIAGNOSED WITH ANY CONDITION OF IMPAIRMENT OF HEALTH CAUSED BY DISEASES
OF THE LUNG, RESULTING IN DISABILITY TO SUCH MEMBER, PRESENTLY EMPLOYED,
AND WHO SHALL HAVE SUSTAINED SUCH DISABILITY WHILE SO EMPLOYED, SHALL
HAVE SUCH DIAGNOSIS BE PRESUMPTIVE EVIDENCE THAT SUCH DISABILITY WAS
INCURRED IN THE PERFORMANCE AND DISCHARGE OF DUTY, UNLESS THE CONTRARY
BE PROVEN BY COMPETENT EVIDENCE.
D. THE ANNUAL RETIREMENT ALLOWANCE PAYABLE SHALL BE EQUAL TO THE
THREE-QUARTERS OF HIS OR HER FINAL AVERAGE SALARY, SUBJECT TO SECTION
13-176 OF THIS CHAPTER.
§ 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
SUMMARY OF BILL: This proposed legislation would amend the Retirement
and Social Security Law (RSSL) to add a new Section 605-f and the Admin-
istrative Code of the City of New York (ACCNY) to add a new Section
13-168.1 to provide a rebuttable statutory presumption to members of the
New York City Employees' Retirement System (NYCERS) working in certain
enumerated titles as employees of the New York City Transit Authority
(Transit) who become physically incapacitated due to lung disease and
provide a performance of duty disability retirement benefit equivalent
to 75% of the member's Final Average Salary (FAS).
In determining whether disabling lung disease was caused by employment
for Transit, the diagnosis of lung disease would be presumptive evidence
that such disability was incurred in the performance and discharge of
duty, unless the contrary is proven by competent evidence.
Effective Date: Upon enactment.
IMPACT ON BENEFITS PAYABLE: Under the proposed legislation, the bene-
fits for active members of NYCERS working in certain Transit titles who
become physically incapacitated for performance of duty due to lung
disease would be revised to equal a retirement allowance of:
* 75% multiplied by FAS,
Reduced by:
* 100% of Workers' Compensation benefits (if any) payable.
FINANCIAL IMPACT - OVERVIEW: There is no data available to estimate
the number of members who might develop and become disabled by lung
disease, and potentially benefit from this proposed legislation. There-
fore, the estimated financial impact has been calculated on a per event
basis equal to the increase in the Present Value of Future Benefits
(PVFB) for an average member who is diagnosed with lung disease as the
result of the enactment of the proposed legislation and who would bene-
fit from the proposed legislation.
In determining the increase in the PVFB for members who could benefit
from the proposed legislation, it has been assumed that 50% of the
members who would retire with a performance of duty benefit equal to 75%
of FAS were those who would have retired under an Ordinary Disability
Retirement (ODR) benefit. It was further assumed that the remaining 50%
of members who would retire with a 75% of FAS performance of duty
retirement benefit due to lung disease under this bill were those who
would have continued working and retired for service if the proposed
legislation were not passed.
With respect to an individual member, the additional cost of this
proposed legislation could vary greatly depending on the member's length
of service, age, and salary history. In particular, the increase in PVFB
due to the proposed legislation would be greater for a member who is not
yet eligible for an ODR benefit when lung disease is diagnosed.
A. 9873 6
FINANCIAL IMPACT - PRESENT VALUES: Based on the census data and the
actuarial assumptions and methods described herein, the enactment of
this proposed legislation would increase the PVFB by approximately
$350,000, on average for each occurrence of lung disease for members who
would benefit from the proposed legislation.
FINANCIAL IMPACT - ANNUAL EMPLOYER CONTRIBUTIONS: Enactment of this
proposed legislation would increase employer contributions, where such
amount would depend on the number of members affected as well as other
characteristics including the age, years of service, and salary history
of the member.
As there is no data currently available to estimate the number of
members who might be diagnosed with disabling lung disease, the finan-
cial impact would be recognized at the time of event. Consequently,
changes in employer contributions have been estimated assuming that the
increase in the PVFB will be financed over a time period comparable to
that used for actuarial losses under the Entry Age Normal cost method.
Using this approach, the additional PVFB would be amortized over a
closed 15-year period (14 payments under the One-Year Lag Methodology)
using level dollar payments.
Based on the Actuary's actuarial assumptions and methods in effect as
of June 30, 2018, the enactment of this proposed legislation is esti-
mated to increase annual employer contributions by approximately
$41,400, on average for each performance of duty retirement benefit due
to lung disease.
With respect to the timing, increases in employer contributions would
depend upon when members would retire due to lung disease but, general-
ly, increased employer contributions will first occur the second fiscal
year following approval of the performance of duty disability benefit.
OTHER COSTS: Not measured in this Fiscal Note are the following:
* The initial, additional administrative costs of NYCERS and other New
York City agencies to implement the proposed legislation.
* The impact of this proposed legislation on Other Postemployment
Benefit (OPEB) costs.
CENSUS DATA: The estimates presented herein are based on the census
data used in the Preliminary June 30, 2018 (Lag) actuarial valuation of
NYCERS to determine the Preliminary Fiscal Year 2020 employer contrib-
utions.
There are 27,743 active Transit Authority employees in affected titles
who participate in NYCERS as of June 30, 2018 who could potentially
benefit from the proposed legislation. These 27,743 active Transit
Authority members had an average age of approximately 48.6 years, aver-
age service of approximately 12.5 years, and an average salary of
approximately $79,600.
ACTUARIAL ASSUMPTIONS AND METHODS: The changes in the PVFB and annual
employer contributions presented herein have been calculated based on
the actuarial assumptions and methods in effect for the June 30, 2018
(Lag) actuarial valuations used to determine the Preliminary Fiscal Year
2020 employer contributions of NYCERS.
RISK AND UNCERTAINTY: The costs presented in this Fiscal Note depend
highly on the actuarial assumptions and methods used and are subject to
change based on the realization of potential investment, demographic,
contribution, and other risks. If actual experience deviates from actu-
arial assumptions, the actual costs could differ from those presented
herein. Costs are also dependent on the actuarial methods used, and
therefore different actuarial methods could produce different results.
Quantifying these risks is beyond the scope of this Fiscal Note.
A. 9873 7
STATEMENT OF ACTUARIAL OPINION: I, Sherry S. Chan, am the Chief Actu-
ary for, and independent of, the New York City Retirement Systems and
Pension Funds. I am a Fellow of the Society of Actuaries, an Enrolled
Actuary under the Employee Retirement Income and Security Act of 1974, a
Member of the American Academy of Actuaries, and a Fellow of the Confer-
ence of Consulting Actuaries. I meet the Qualification Standards of the
American Academy of Actuaries to render the actuarial opinion contained
herein. To the best of my knowledge, the results contained herein have
been prepared in accordance with generally accepted actuarial principles
and procedures and with the Actuarial Standards of Practice issued by
the Actuarial Standards Board.
FISCAL NOTE IDENTIFICATION: This Fiscal Note 2019-39 dated June 18,
2019 was prepared by the Chief Actuary for the New York City Employees'
Retirement System. This estimate is intended for use only during the
2019 Legislative Session.