S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10340
 
                           I N  A S S E M B L Y
 
                               May 17, 2024
                                ___________
 
 Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Hunter) --
   read once and referred to the Committee on Governmental Employees
 
 AN ACT granting retroactive retirement service credit to David M. Sturtz
 
   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, David M.
 Sturtz, currently a village of Liverpool police officer  and  member  of
 the  New  York state and local police and fire retirement system covered
 by section 384-d of the retirement and social security law, who  between
 October  14, 2002 and April 12, 2011 was employed by the Onondaga county
 sheriff's department where he was a member of the  New  York  state  and
 local  employees' retirement system, and who, for reasons not ascribable
 to his own negligence, was not  granted  service  credit  under  section
 384-d  of  the  retirement  and  social  security  law for his period of
 employment with the  Onondaga  county  sheriff's  department,  shall  be
 granted  such  service  credit under section 384-d of the retirement and
 social security law and shall be entitled to the full rights  and  bene-
 fits  associated with coverage under such section, provided a request to
 that effect is filed with the state comptroller within one year from the
 effective date of this act.  Prior to David M.  Sturtz  submitting  such
 request,  he  shall first file an application for transfer of membership
 with the New York state and local employees' retirement system. Upon the
 completion of such transfer, David M. Sturtz  shall  not  be  granted  a
 refund  of  any employee contributions made by him to the New York state
 and local employees' retirement system.
   § 2. All past services costs associated  with  the  implementation  of
 this act shall be borne by the village of Liverpool.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  grant  service  credit  under  section 384-d of the
 Retirement and Social Security Law (RSSL) to David M. Sturtz, a  current
 member of the New York State and Local Police and Fire Retirement System
 (NYSLPFRS) employed by the Village of Liverpool, for the period of Octo-
 ber  14,  2002  through  April  12,  2011,  during  which time they were
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD15444-04-4
 A. 10340                            2
 
 employed by the Onondaga County sheriff's  department.  Currently,  such
 service  with the Onondaga County sheriff's department is not creditable
 in a NYSLPFRS twenty-year police retirement plan.
   If this bill is enacted during the 2024 Legislative Session, we antic-
 ipate  that  there  will  be  an increase of approximately $1,800 in the
 annual contributions of the Village of Liverpool  for  the  fiscal  year
 ending  March 31, 2025. In future years this cost will vary as the bill-
 ing rates and salary of David M. Sturtz change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $274,000 which  will  be
 borne  by  the Village of Liverpool as a one-time payment. This estimate
 assumes that payment will be made on February 1, 2025.
   This bill will not increase the future  annual  contributions  of  the
 Village of Liverpool.
   David M. Sturtz must transfer the service credit earned while employed
 by  the  Onondaga County sheriff's department to the NYSLPFRS before the
 service credit can be granted under section 384-d of the RSSL.
   Summary of relevant resources:
   Membership data as of March 31, 2023 was used in measuring the  impact
 of the proposed change, the same data used in the April 1, 2023 actuari-
 al  valuation.    Distributions and other statistics can be found in the
 2023 Report of the Actuary and the 2023 Annual  Comprehensive  Financial
 Report.
   The  actuarial  assumptions and methods used are described in the 2023
 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, 2023
 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  May 16, 2024, and intended for use only during
 the 2024 Legislative Session, is Fiscal Note No. 2024-178,  prepared  by
 the Actuary for the New York State and Local Retirement System.