S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5852
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 1, 2021
                                ___________
 
 Introduced  by  M.  of  A.  BUTTENSCHON -- read once and referred to the
   Committee on Governmental Employees
 
 AN ACT to authorize Scott Berger to receive certain service credit under
   section 384-d of the retirement and social security law
 
   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 to the contrary,
 Scott  Berger,  a member of the New York state and local police and fire
 retirement system, who was employed as a police officer with the village
 of Frankfort, from May 5, 2000 through December, 2002, and who,  through
 no  fault of his own, failed to file a timely application to participate
 in the special twenty-year retirement plan contained in section 384-d of
 the retirement and social security law resulting in the crediting of his
 service with the village of Frankfort in  the  general  retirement  plan
 contained  in  section  375-c of such law, shall be granted such service
 credit under section 384-d of the retirement and social security law for
 his period of employment with  the  village  of  Frankfort,  provided  a
 request  to  that  effect is filed with the state comptroller within one
 year from the effective date of this act.
   § 2. All employer past service costs associated with implementing  the
 provisions  of  this  act shall be borne by the village of Frankfort and
 may be amortized over a period of ten years.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would grant Scott Berger, a Tier 2 member of  the  New  York
 State  and  Local  Police and Fire Retirement System, additional service
 creditable under the provisions of section 384-d together with 384-e  of
 the Retirement and Social Security Law for time worked as a police offi-
 cer  with  the  Village of Frankfort between May 2000 and December 2002.
 Such service is currently creditable only in the age 55 retirement  plan
 of  section  375-c.  Officer Berger is currently employed by the City of
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD03523-02-1

 A. 5852                             2
 
 Utica and covered under the provisions of section  384-d  together  with
 384-e.
   If  this  bill  is  enacted during the 2021 legislative session, there
 will be an immediate past service cost of  approximately  $34,900  which
 will  be  borne  by the Village of Frankfort as a one-time payment. This
 estimate is based on the assumption that payment will be made on  Febru-
 ary  1, 2022.   If the Village of Frankfort elects to amortize this cost
 over a 10 year period, the cost for the first  year  including  interest
 would be $4,620.
   There  will  be no increase in the annual contributions of the City of
 Utica.
   Summary of relevant resources:
   Membership data as of March 31, 2020 was used in measuring the  impact
 of the proposed change, the same data used in the April 1, 2020 actuari-
 al  valuation.  Distributions  and  other statistics can be found in the
 2020 Report of the Actuary and the 2020 Comprehensive  Annual  Financial
 Report.
   The  actuarial  assumptions and methods used are described in the 2020
 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, 2020
 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  January  29,  2021,  and intended for use only
 during the  2021  Legislative  Session,  is  Fiscal  Note  No.  2021-57,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.