NY State Senate Bill 2019-S3442A

Senate Bill S3442A

2019-2020 Legislative Session

Authorizes Anthony A. Fede Tier I status in the New York state and local employees' retirement system

download bill text pdf

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee

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

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 11, 2020	print number 3442a
Mar 11, 2020	amend and recommit to civil service and pensions
Jan 08, 2020	referred to civil service and pensions
Feb 07, 2019	referred to civil service and pensions

Bill Amendments

Original

A (Active)

2019-S3442 - Details

See Assembly Version of this Bill:: A9923
Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement
Versions Introduced in Other Legislative Sessions:: 2017-2018: S6315
2021-2022: S5108, A6456
2023-2024: A6323

2019-S3442 - Summary

Authorizes Anthony A. Fede Tier I status in the New York state and local employees' retirement system.

2019-S3442 - Sponsor Memo

                                
 
BILL NUMBER: S3442            REVISED MEMO 03/04/2019

SPONSOR: BROOKS
 
TITLE OF BILL:  An act to authorize Anthony A. Fede Tier I status in
the New York state and local employees' retirement system

 
PURPOSE OR GENERAL IDEA OF BILL:

Relates to authorizing Anthony A. Fede Tier I status in the New York
state and local employees' retirement system.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1 contains the information on Mr. Anthony A. Fede's eligibility
to be deemed to have become a member of the New York state and local
employees' retirement system as of March 17, 1970; and shall have Tier I
status, if no later than one year after the effective date of this act
he shall file a written request with the state comptroller. Upon receipt
of the request, the benefit will be calculated and payment shall be made
retroactive to the date of his retirement.

Section 2 states that no contributions made to the New York state and
local employees' retirement system shall be returned or refunded to
Anthony A. Fede pursuant to this act.

Section 3 states that all past services costs associated with the imple-
mentation of this act shall be borne by all participating employers in
the New York State and local employees' retirement system.

Section 4 states that this act shall take effect immediately.

 
JUSTIFICATION:

At the request of Mr. Fede, who was first eligible to join the public
retirement system as of March 17, 1970 and who was employed by the Sewa-
nhaka Central High School District from March 17, 1970 to August 10,
1973 and who for reasons not ascribable to his own negligence was not
afforded the opportunity to join the New York state and local employees'
retirement system with Tier I status.

 
FISCAL IMPLICATIONS:

The Office of the New York State Comptroller, Employees' Retirement
System has calculated an estimate which is included within this legis-
lation. If this legislation is enacted during the 2019 Legislative
session, there will be an immediate past service cost of approximately
$153,000. The State of New York and the participating employers in the
ERS would share these costs.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2019-S3442 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3442
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 7, 2019
                                ___________
 
 Introduced  by  Sen.  BROOKS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT to authorize Anthony A. Fede Tier I status in the New York  state
   and local employees' retirement system
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Notwithstanding any other  provision  of  law,  Anthony  A.
 Fede,  who  is  currently retired and who was first eligible to join the
 public retirement system as of March 17, 1970 and who  was  employed  by
 the Sewanhaka Central High School District from March 17, 1970 to August
 10,  1973  and  who for reasons not ascribable to his own negligence was
 not afforded the opportunity to  join  the  New  York  state  and  local
 employees' retirement system with Tier I status, shall be deemed to have
 become  a  member  of the New York state and local employees' retirement
 system as of March 17, 1970; and shall have Tier I status, if, no  later
 than one year after the effective date of this act he shall file a writ-
 ten  request  with  the state comptroller. Upon receipt of such request,
 the retirement benefit shall be calculated and  payment  shall  be  made
 retroactive to his date of retirement.
   §  2. No contributions made to the New York state and local employees'
 retirement system shall be returned  or  refunded  to  Anthony  A.  Fede
 pursuant to this act.
   § 3. All past service costs associated with the implementation of this
 act  shall be borne by all participating employers in the New York state
 and local employees' retirement system.
   § 4. This act shall take effect immediately.
   Fiscal Note.--Pursuant to Legislative Law, Section 50:
   This bill will grant Tier 1 status in the New  York  State  and  Local
 Employees'  Retirement System (ERS) to Anthony A. Fede, a retired Tier 4
 member, by changing his date of membership to March 17, 1970, his  first
 date  of  employment with Sewanhaka Central School District. The retire-

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD06867-02-9

 S. 3442                             2
 
 ment benefit will be recalculated and payment will be  made  retroactive
 to  his  date  of retirement. There will be no refund of member contrib-
 utions.
   If  this  bill  is  enacted during the 2019 legislative session, there
 will be an immediate past service cost of approximately  $153,000.  This
 cost  would  be  shared  by  the State of New York and the participating
 employers in the ERS.
   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, 2018 actuarial valu-
 ation.  Distributions and other statistics can  be  found  in  the  2018
 Report  of  the  Actuary  and  the  2018  Comprehensive Annual Financial
 Report.
   The actuarial assumptions and methods used are described in the  2015,
 2016,  2017  and  2018  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, 2018
 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 fiscal note does not constitute a legal opinion on the  viability
 of  the  proposed change nor is it intended to serve as a substitute for
 the professional judgment of an attorney.
   This estimate, dated February 6,  2019,  and  intended  for  use  only
 during  the  2019  Legislative  Session,  is  Fiscal  Note  No. 2019-62,
 prepared by the Actuary for the New  York  State  and  Local  Retirement
 System.

2019-S3442A (ACTIVE) - Details

See Assembly Version of this Bill:: A9923
Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement
Versions Introduced in Other Legislative Sessions:: 2017-2018: S6315
2021-2022: S5108, A6456
2023-2024: A6323

2019-S3442A (ACTIVE) - Summary

Authorizes Anthony A. Fede Tier I status in the New York state and local employees' retirement system.

2019-S3442A (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S3442a

SPONSOR: BROOKS
 
TITLE OF BILL:

An act to authorize Anthony A. Fede Tier I status in the New York state
and local employees' retirement system

 
PURPOSE:

Relates to authorizing Anthony A. Fede Tier I status in the New York
state and local employees' retirement system.

 
SUMMARY OF PROVISIONS:

Section 1. contains the information on Mr. Anthony A. Fede's eligibility
to be deemed to have become a member of the New York state and local
employees' retirement system as of March 17, 1970; and shall have Tier I
status, if no later than one year after the effective date of this act
he shall file a written request with the state comptroller. Upon receipt
of the request, the benefit will be calculated and payment shall be made

retroactive to the date of his retirement.

Section 2. states that no contributions made to the New York state and
local employees' retirement system shall be returned or refunded to
Anthony A. Fede pursuant to this act.

Section 3. states that all past services costs associated with the
implementation of this act shall be borne by all participating employers
in the New York State and local employees' retirement system.

Section 4. states that this act shall take effect immediately.

 
JUSTIFICATION:

At the request of Mr. Fede, who was first eligible to join the public
retirement system as of March 17, 1970 and who was employed by the Sewa-
nhaka Central High School District from March 17, 1970 to August 10,1973
and who for reasons not ascribable to his own negligence was not
afforded the opportunity to join the New York state and local employees'
retirement system with Tier I status.

 
FISCAL IMPLICATIONS:

The Office of the New York State Comptroller, Employees' Retirement
System has calculated an estimate which is included within this legis-
lation. If this legislation is enacted during the 2020 Legislative
session, there will be an immediate past service cost of approximately
$159,000. The State of New York and the participating employers in the
ERS would share these costs.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2019-S3442A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3442--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 7, 2019
                                ___________
 
 Introduced  by  Sen.  BROOKS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
   -- 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  commit-
   tee
 
 AN  ACT to authorize Anthony A. Fede Tier I status in the New York state
   and local employees' retirement system
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Notwithstanding  any  other  provision of law, Anthony A.
 Fede, who is currently retired and who was first eligible  to  join  the
 public  retirement  system  as of March 17, 1970 and who was employed by
 the Sewanhaka Central High School District from March 17, 1970 to August
 10, 1973 and who for reasons not ascribable to his  own  negligence  was
 not  afforded  the  opportunity  to  join  the  New York state and local
 employees' retirement system with Tier I status, shall be deemed to have
 become a member of the New York state and  local  employees'  retirement
 system  as of March 17, 1970; and shall have Tier I status, if, no later
 than one year after the effective date of this act he shall file a writ-
 ten request with the state comptroller. Upon receipt  of  such  request,
 the  retirement  benefit  shall  be calculated and payment shall be made
 retroactive to his date of retirement.
   § 2. No contributions made to the New York state and local  employees'
 retirement  system  shall  be  returned  or  refunded to Anthony A. Fede
 pursuant to this act.
   § 3. All past service costs associated with the implementation of this
 act shall be borne by all participating employers in the New York  state
 and local employees' retirement system.
   § 4. This act shall take effect immediately.
   Fiscal Note.--Pursuant to Legislative Law, Section 50:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD06867-03-0

 S. 3442--A                          2
 
   This  bill  will  grant  Tier 1 status in the New York State and Local
 Employees' Retirement System (ERS) to Anthony A. Fede, a retired Tier  4
 member,  by changing his date of membership to March 17, 1970, his first
 date of employment with Sewanhaka Central School District.  The  retire-
 ment  benefit  will be recalculated and payment will be made retroactive
 to his date of retirement. There will be no refund  of  member  contrib-
 utions.
   If  this  bill  is  enacted during the 2020 legislative session, there
 will be an immediate past service cost of approximately  $159,000.  This
 cost  would  be  shared  by  the State of New York and the participating
 employers in the ERS.
   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, 2019 actuarial valu-
 ation.  Distributions and other statistics can  be  found  in  the  2019
 Report  of  the  Actuary  and  the  2019  Comprehensive Annual Financial
 Report.
   The actuarial assumptions and methods used are described in the  2015,
 2016,  2017, 2018 and 2019 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, 2019
 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 fiscal note does not constitute a legal opinion on the  viability
 of  the  proposed change nor is it intended to serve as a substitute for
 the professional judgment of an attorney.
   This estimate, dated February 20, 2020,  and  intended  for  use  only
 during  the  2020  Legislative  Session,  is  Fiscal  Note  No. 2020-54,
 prepared by the Actuary for the New  York  State  and  Local  Retirement
 System.

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