S T A T E   O F   N E W   Y O R K
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                                   5126
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 24, 2021
                                ___________
 
 Introduced by Sen. GOUNARDES -- 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
   establishing a twenty year retirement plan for members or officers  of
   the regional state park police

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The retirement and social security law is amended by adding
 a new section 383-e to read as follows:
   § 383-E. RETIREMENT OF OFFICERS OF THE  REGIONAL  STATE  PARK  POLICE;
 TWENTY   YEAR  RETIREMENT  PLAN.  A.  MEMBERSHIP.  EVERY  NON-SEASONALLY
 APPOINTED SWORN MEMBER OR OFFICER OF THE REGIONAL STATE PARK POLICE  WHO
 ENTERS  OR  RE-ENTERS  SERVICE IN ANY SUCH TITLE SHALL BE COVERED BY THE
 PROVISIONS OF THIS SECTION, AND EVERY MEMBER DESCRIBED IN THIS  SUBDIVI-
 SION  IN  SUCH SERVICE ON OR BEFORE ONE YEAR PRIOR TO THE EFFECTIVE DATE
 OF THIS SECTION MAY ELECT TO  BE  COVERED  BY  THE  PROVISIONS  OF  THIS
 SECTION  BY  FILING  AN  ELECTION  THEREFOR  WITH THE COMPTROLLER. TO BE
 EFFECTIVE, SUCH ELECTION MUST BE DULY EXECUTED  AND  ACKNOWLEDGED  ON  A
 FORM PREPARED BY THE COMPTROLLER FOR THAT PURPOSE.
   B.  RETIREMENT  ALLOWANCE. A MEMBER, COVERED BY THE PROVISIONS OF THIS
 SECTION AT THE TIME OF RETIREMENT, SHALL  BE  ENTITLED  TO  RETIRE  UPON
 COMPLETION  OF  TWENTY YEARS OF TOTAL CREDITABLE SERVICE IN SUCH TITLES,
 AND SHALL RETIRE UPON THE ATTAINMENT OF  THE  MANDATORY  RETIREMENT  AGE
 PRESCRIBED  BY  THIS  SECTION,  BY  FILING  AN APPLICATION THEREFOR IN A
 MANNER SIMILAR TO THAT PROVIDED IN SECTION THREE HUNDRED SEVENTY OF THIS
 ARTICLE.
   1. UPON COMPLETION OF TWENTY YEARS OF SUCH SERVICE  AND  UPON  RETIRE-
 MENT,  EACH  SUCH MEMBER SHALL RECEIVE A PENSION WHICH, TOGETHER WITH AN
 ANNUITY FOR SUCH YEARS OF SERVICE AS PROVIDED IN PARAGRAPH FOUR OF  THIS
 SUBDIVISION, SHALL BE SUFFICIENT TO PROVIDE HIM OR HER WITH A RETIREMENT
 ALLOWANCE OF ONE-HALF OF HIS OR HER FINAL AVERAGE SALARY.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD06254-02-1

 S. 5126                             2
 
   2.  UPON COMPLETION OF MORE THAN TWENTY YEARS OF SUCH SERVICE AND UPON
 RETIREMENT, EACH SUCH MEMBER SHALL RECEIVE, FOR EACH YEAR OF SERVICE  IN
 EXCESS  OF TWENTY, AN ADDITIONAL PENSION WHICH, TOGETHER WITH AN ANNUITY
 FOR EACH SUCH YEAR AS PROVIDED IN PARAGRAPH FOUR  OF  THIS  SUBDIVISION,
 SHALL  BE  EQUAL  TO  ONE-SIXTIETH  OF  HIS OR HER FINAL AVERAGE SALARY,
 PROVIDED, HOWEVER, THAT THE PENSION PAYABLE  PURSUANT  TO  THIS  SECTION
 SHALL NOT EXCEED THREE-QUARTERS OF FINAL AVERAGE SALARY.
   3.  UPON ATTAINMENT OF THE MANDATORY RETIREMENT AGE WITHOUT COMPLETION
 OF TWENTY YEARS OF SUCH  SERVICE,  EACH  SUCH  MEMBER  SHALL  RECEIVE  A
 PENSION  WHICH,  TOGETHER  WITH  AN ANNUITY FOR SUCH YEARS OF SERVICE AS
 PROVIDED IN PARAGRAPH FOUR OF THIS SUBDIVISION, SHALL BE EQUAL  TO  ONE-
 FORTIETH  OF HIS OR HER FINAL AVERAGE SALARY FOR EACH YEAR OF CREDITABLE
 SERVICE IN SUCH TITLES. EVERY SUCH MEMBER SHALL ALSO BE ENTITLED  TO  AN
 ADDITIONAL  PENSION  EQUAL  TO  THE  PENSION  FOR ANY CREDITABLE SERVICE
 RENDERED WHILE NOT AN EMPLOYEE IN SUCH TITLES AS  PROVIDED  UNDER  PARA-
 GRAPHS  THREE  AND FOUR OF SUBDIVISION A OF SECTION THREE HUNDRED SEVEN-
 TY-FIVE OF THIS ARTICLE. THIS LATTER  PENSION  SHALL  NOT  INCREASE  THE
 TOTAL  ALLOWANCE TO MORE THAN ONE-HALF OF HIS OR HER FINAL AVERAGE SALA-
 RY.
   4. THE ANNUITY PROVIDED UNDER PARAGRAPHS ONE, TWO AND  THREE  OF  THIS
 SUBDIVISION  SHALL  BE  THE ACTUARIAL EQUIVALENT, AT THE TIME OF RETIRE-
 MENT, OF THE MEMBER'S ACCUMULATED CONTRIBUTIONS BASED UPON THE  RATE  OF
 CONTRIBUTION  FIXED  UNDER  SECTION  THREE  HUNDRED EIGHTY-THREE OF THIS
 TITLE AND UPON THE SALARIES EARNED WHILE IN SUCH SERVICE.  SUCH  ANNUITY
 SHALL BE COMPUTED AS IT WOULD BE IF IT WERE NOT REDUCED BY THE ACTUARIAL
 EQUIVALENT  OF  ANY  OUTSTANDING  LOAN  NOR  BY  REASON  OF THE MEMBER'S
 ELECTION TO DECREASE HIS OR HER CONTRIBUTIONS TOWARD RETIREMENT IN ORDER
 TO APPLY THE RESULTING AMOUNT TOWARD PAYMENT OF  CONTRIBUTIONS  FOR  OLD
 AGE AND SURVIVOR'S INSURANCE. ANY ACCUMULATED CONTRIBUTIONS IN EXCESS OF
 THE  AMOUNT  REQUIRED  TO  PROVIDE THE ANNUITY COMPUTED PURSUANT TO THIS
 PARAGRAPH SHALL BE USED TO INCREASE THE MEMBER'S RETIREMENT ALLOWANCE.
   C. CREDIT FOR PREVIOUS SERVICE. IN COMPUTING THE YEARS OF TOTAL  CRED-
 ITABLE  SERVICE  FOR  EACH MEMBER DESCRIBED HEREIN, FULL CREDIT SHALL BE
 GIVEN AND FULL ALLOWANCE SHALL BE MADE FOR SERVICE RENDERED AS A  POLICE
 OFFICER OR STATE UNIVERSITY PEACE OFFICER OR MEMBER OF A POLICE FORCE OR
 DEPARTMENT  OF  A  STATE  PARK  AUTHORITY  OR COMMISSION OR AN ORGANIZED
 POLICE FORCE OR DEPARTMENT OF A  COUNTY,  CITY,  TOWN,  VILLAGE,  POLICE
 DISTRICT,  AUTHORITY  OR  OTHER  PARTICIPATING EMPLOYER OR MEMBER OF THE
 CAPITAL POLICE FORCE IN THE OFFICE OF GENERAL SERVICES WHILE A MEMBER OF
 THE NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM,  OF  THE
 NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM OR OF THE NEW YORK
 CITY  POLICE  PENSION FUND AND FOR ALL SERVICE FOR WHICH FULL CREDIT HAS
 BEEN GIVEN AND FULL ALLOWANCE MADE PURSUANT TO THE PROVISIONS OF SECTION
 THREE HUNDRED SEVENTY-FIVE-H OF THIS  ARTICLE  PROVIDED,  HOWEVER,  THAT
 FULL  CREDIT  PURSUANT TO THE PROVISIONS OF SUCH SECTION SHALL MEAN ONLY
 SUCH SERVICE AS WOULD BE CREDITABLE SERVICE PURSUANT TO  THE  PROVISIONS
 OF  SECTION  THREE  HUNDRED  EIGHTY-THREE, THREE HUNDRED EIGHTY-THREE-A,
 THREE HUNDRED EIGHTY-THREE-B, AS ADDED BY CHAPTER SIX  HUNDRED  SEVENTY-
 FOUR  OF  THE LAWS OF NINETEEN HUNDRED EIGHTY-SIX, THREE HUNDRED EIGHTY-
 THREE-B, AS ADDED BY CHAPTER SIX HUNDRED SEVENTY-SEVEN OF  THE  LAWS  OF
 NINETEEN  HUNDRED  EIGHTY-SIX,  THREE  HUNDRED  EIGHTY-THREE-C  OR THREE
 HUNDRED EIGHTY-THREE-D OF THIS TITLE OR PURSUANT TO  THE  PROVISIONS  OF
 TITLE  THIRTEEN  OF  THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK FOR
 ANY MEMBER CONTRIBUTING PURSUANT TO THIS SECTION WHO TRANSFERRED TO  THE
 JURISDICTION  OF  THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION INCLUDING
 BUT NOT  LIMITED  TO  ENVIRONMENTAL  CONSERVATION  OFFICERS  AND  FOREST

 S. 5126                             3
 
 RANGERS,  REGIONAL  STATE  PARK  POLICE  OR STATE UNIVERSITY OF NEW YORK
 PEACE OFFICERS.
   D.  RETIREMENT  FOR CAUSE. UPON RECEIPT OF A CERTIFICATE FROM THE HEAD
 OF THE ENTITY WHERE SUCH MEMBER IS EMPLOYED OR HIS OR  HER  DESIGNEE,  A
 MEMBER  AS  DESCRIBED  IN SUBDIVISION A OF THIS SECTION, WHO HAS ACCRUED
 TWENTY-FIVE OR MORE YEARS OF SERVICE CREDIT UNDER THIS SECTION SHALL  BE
 RETIRED  ON  THE  FIRST DAY OF THE SECOND MONTH NEXT SUCCEEDING THE DATE
 SUCH CERTIFICATE WAS FILED WITH THE COMPTROLLER.
   E. CREDIT FOR MILITARY SERVICE. IN COMPUTING THE YEARS OF TOTAL  CRED-
 ITABLE  SERVICE  FULL  CREDIT SHALL BE GIVEN AND FULL ALLOWANCE SHALL BE
 MADE FOR SERVICE OF SUCH MEMBER IN WAR AFTER WORLD WAR I AS  DEFINED  IN
 SECTION  THREE  HUNDRED TWO OF THIS ARTICLE, PROVIDED SUCH MEMBER AT THE
 TIME OF HIS OR HER ENTRANCE INTO THE ARMED FORCES WAS IN POLICE  SERVICE
 AS  DEFINED  IN  SUBDIVISION ELEVEN OF SECTION THREE HUNDRED TWO OF THIS
 ARTICLE.
   F. TRANSFER OF MEMBERSHIP TO EMPLOYEES' RETIREMENT SYSTEM. ANY  MEMBER
 CURRENTLY  ENROLLED  PURSUANT  TO THIS SECTION AND WHO PREVIOUSLY TRANS-
 FERRED SERVICE CREDIT FROM THE  NEW  YORK  STATE  AND  LOCAL  EMPLOYEES'
 RETIREMENT  SYSTEM  TO  THE  NEW  YORK  STATE  AND LOCAL POLICE AND FIRE
 RETIREMENT SYSTEM, MAY ELECT TO  TRANSFER  SUCH  PREVIOUSLY  TRANSFERRED
 SERVICE  CREDIT  BACK TO THE NEW YORK STATE AND LOCAL EMPLOYEES' RETIRE-
 MENT SYSTEM, AND SUCH MEMBER SHALL  HAVE  THE  OPTION  TO  RETROACTIVELY
 TRANSFER HIS OR HER MEMBERSHIP INTO SUCH EMPLOYEES' RETIREMENT SYSTEM.
   G.  THE PROVISIONS OF THIS SECTION SHALL BE CONTROLLING, NOTWITHSTAND-
 ING ANY PROVISION OF THIS ARTICLE TO THE CONTRARY.
   §  2.  All  past  service  costs  associated  with  implementing   the
 provisions  of  this act shall be borne by the state of New York and may
 be amortized over a period of ten years.
   § 3. This act shall take effect on the sixtieth  day  after  it  shall
 have become a law.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  allow  any non-seasonally appointed sworn member or
 officer of the regional state park  police  to  become  covered  by  the
 provisions  of  a  special 20-year retirement plan, which will provide a
 benefit of one-half of final average  salary  upon  retirement,  and  an
 additional benefit of one-sixtieth of final average salary for each year
 of  creditable  service  in  excess  of  20 years, not to exceed 12 such
 years.
   If this bill is enacted during the 2021 legislative session, we antic-
 ipate that there will be an increase of approximately  $1.0  million  in
 the  annual  contributions  of the State of New York for the fiscal year
 ending March 31, 2022. In future years, this cost will vary as the bill-
 ing rates and salary of the affected officers change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $10.4 million which will
 be borne by the State of New York as a one-time payment.  This  estimate
 is  based  on the assumption that payment will be made on March 1, 2022.
 If the State of New York elects to amortize this  cost  over  a  10-year
 period,  the  cost  for the first year including interest would be $1.37
 million.
   These estimated costs are based on 245 affected officers  employed  by
 the  State  of New York, with annual salary of approximately $22 million
 as of March 31, 2020.
   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-

 S. 5126                             4
 
 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  February  19,  2021, and intended for use only
 during the  2021  Legislative  Session,  is  Fiscal  Note  No.  2021-98,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.