S T A T E   O F   N E W   Y O R K
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                                  5053--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 10, 2021
                                ___________
 
 Introduced  by M. of A. STERN -- read once and referred to the Committee
   on Governmental Employees -- recommitted to the Committee  on  Govern-
   mental Employees in accordance with Assembly Rule 3, sec. 2 -- commit-
   tee  discharged, bill amended, ordered reprinted as amended and recom-
   mitted to said committee

 AN ACT granting retroactive tier IV membership in the New York state and
   local employees' retirement system to Rebecca Leonard
 
   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,  Rebecca
 Leonard, formerly Rebecca Abensur, a member of the New  York  state  and
 local  employees'  retirement system, who was employed in November 2007,
 by Half Hollow Hills Central School District, who did not file a member-
 ship application in such system until 2010, which gave her Tier V status
 instead of Tier IV status, where she would have been  had  she  filed  a
 membership  application when she became a permanent employee in November
 2007 may be deemed to have become a member of the  New  York  state  and
 local  employees' retirement system in November 2007 if, within one year
 of the effective date of this act, she shall file with the  state  comp-
 troller  a  written  request  to  that effect. Upon the granting of such
 retroactive membership, Rebecca Leonard shall not be granted a refund of
 any employee contribution made by her to the New York  state  and  local
 employees' retirement system.
   § 2. All past service costs associated with the implementation of this
 act shall be borne by the county of Nassau.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  will  grant  Tier 4 status in the New York State and Local
 Employees' Retirement System to Rebecca Leonard, a current Tier 5 member
 employed by Nassau County, by changing her date of membership to  Novem-
 ber  2007,  her  first  date  of  employment  with the Half Hollow Hills
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03921-04-1
              

 A. 5053--A                          2
 
 Central School District. There will be  no  refund  of  member  contrib-
 utions.
   If this legislation is enacted during the 2022 legislative session, we
 anticipate that there will be an increase of approximately $1,400 in the
 annual  contributions  of Nassau County for the fiscal year ending March
 31, 2023. In future years, this cost will vary as the billing rates  and
 salary of Rebecca Leonard change.
   In addition to the annual contributions discussed above, there will be
 an  immediate past service cost of $22,000 which will be borne by Nassau
 County as a one-time payment. This estimate is based on  the  assumption
 that payment will be made on February 1, 2023.
   Summary of relevant resources:
   Membership  data as of March 31, 2021 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2021 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2021  Report  of the Actuary and the 2021 Comprehensive Annual Financial
 Report.
   The actuarial assumptions and methods used are described in  the  2020
 and  2021 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, 2021
 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 December 7,  2021,  and  intended  for  use  only
 during the 2022 Legislative Session, is Fiscal Note No. 2022-6, prepared
 by the Actuary for the New York State and Local Retirement System.