NY State Senate Bill 2023-S6028

Senate Bill S6028

2023-2024 Legislative Session

Grants retroactive membership in the New York state and local police and fire retirement system to Paul Valentine Jr.

download bill text pdf

Current 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

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to civil service and pensions
Mar 27, 2023	referred to civil service and pensions

2023-S6028 (ACTIVE) - Details

Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement

2023-S6028 (ACTIVE) - Summary

Grants retroactive membership in Tier II of the New York state and local police and fire retirement system to Paul Valentine Jr.

2023-S6028 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S6028

SPONSOR: WEBER
 
TITLE OF BILL:

An act granting retroactive membership in the New York state and local
police and fire retirement system to Paul Valentine Jr.

 
PURPOSE:

This bill would grant Paul Valentine, Jr. retroactive tier IV membership
in the New York State and Local Employees Retirement System.

 
SUMMARY OF PROVISIONS:

Section I: Changes Paul Valentine, Jr.'s effective membership date in
the New York State and Local Employees' Retirement System from February
5th, 2018 to June 26th, 2001 so that he may be placed in the Tier IV
retirement group. He shall file with the State Comptroller a written
request to this effect and, upon granting of such retroactive member-
ship, Mr. Valentine will not be granted a refund of any employee
contribution made by him to the system.

Section II: Describes who is responsible for any past cost incurred in
implementing the provisions of this act.

Section III: Provides the effective date.

 
JUSTIFICATION:

Paul Valentine, Jr. commenced employment with the Town of Orangetown on
August 9th, 2001, which should have entitled him to Tier IV membership
in the New York State and Local Employees' Retirement System. However,
for reasons not due to any negligence on his part, Mr. Valentine was not
entered in the retirement system until February 5th, 2018, granting him
Tier VI membership, and he should not be penalized for this error.

This bill, if enacted into law, would correct the mistake by allowing
Paul Valentine, Jr. to file for retroactive membership in the New York
State and Local Employees' Retirement System as of August 9, 2001, the
actual start date of his employment.

 
LEGISLATIVE HISTORY:

2021-2022: A.10132

 
FISCAL IMPLICATIONS:

See Fiscal Note appended to bill.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2023-S6028 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6028
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              March 27, 2023
                                ___________
 
 Introduced  by  Sen.  WEBER  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT granting retroactive membership in the New York state  and  local
   police and fire retirement system to Paul Valentine Jr.
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Notwithstanding any other law to the contrary, Paul  Valen-
 tine  Jr., an employee of the Town of Orangetown and a member of the New
 York state and local police and fire retirement system, who for  reasons
 not  ascribable  to his own negligence, failed to become a member of the
 New York state and local employees' retirement system during his employ-
 ment with the Town of Orangetown on June 26, 2001, shall  be  deemed  to
 have  joined  the  New  York  state and local police and fire retirement
 system on such date and shall be granted Tier II status in the New  York
 state  and  local police and fire retirement system, if, within one year
 of the effective date of this act, he shall file a written request  with
 the state comptroller.
   §  2. No contributions made to the New York state and local retirement
 system by Paul Valentine Jr.   shall be  returned  or  refunded  to  him
 pursuant to this act.
   § 3. All past service costs of implementing the provisions of this act
 shall be borne by the Town of Orangetown.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  provide  Paul Valentine Jr. a date of membership of
 June 26, 2001, resulting in Tier 2 status in  the  New  York  State  and
 Local Police and Fire Retirement System. Paul Valentine Jr. is currently
 in Tier 6. There will be no refund of member contributions.
   If this bill is enacted during the 2023 legislative session, we antic-
 ipate  that  there  will  be an increase of approximately $16,000 in the
 annual contributions of the Town  of  Orangetown  for  the  fiscal  year

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09455-02-3

 S. 6028                             2
 
 ending March 31, 2024. In future years, this cost will vary as the bill-
 ing rates and salary of Paul Valentine Jr. change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service  cost of approximately $9,940 which will be
 borne by the Town of Orangetown as a  one-time  payment.  This  estimate
 assumes that payment will be made on February 1, 2024.
   Summary of relevant resources:
   Membership  data as of March 31, 2022 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2022 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2022  Report  of the Actuary and the 2022 Annual Comprehensive Financial
 Report.
   The actuarial assumptions and methods used are described in the  2020,
 2021,  and  2022  Annual  Report to the Comptroller on Actuarial Assump-
 tions, 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, 2022
 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 March 3, 2023, and intended for use  only  during
 the  2023  Legislative  Session, is Fiscal Note No. 2023-86, prepared by
 the Actuary for the New York State and Local Retirement System.

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