S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6788
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 10, 2023
                                ___________
 
 Introduced  by  Sen. HELMING -- 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
   employees' retirement system to Justin Whitmore
 
   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,  Justin  Whit-
 more,  a  member of the New York State and Local Police and Fire Retire-
 ment System currently  employed  by  the  city  of  Rochester,  who  was
 employed  as  a  seasonal  employee for Sampson State Park, beginning on
 July 7, 2007, who through no fault of his own, failed to become a member
 of the New York state and local employees' retirement system during such
 employment by Sampson State Park in 2007, shall be deemed to have joined
 the New York state and local employees' retirement system  on  the  date
 July  7,  2007  and  shall  be granted Tier IV status in such retirement
 system, if, within one year of the effective date of this act, he  shall
 file a written request with the state comptroller.
   § 2. All past service costs of implementing the provisions of this act
 shall be borne by the state of New York.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  provide  Justin R. Whitmore a date of membership of
 July 7, 2007 resulting in Tier 2 status in the New York State and  Local
 Police and Fire Retirement System. The member is currently in Tier 6 and
 is employed by the City of Rochester.
   If this bill is enacted during the 2023 legislative session, we antic-
 ipate  that  there  will  be an increase of approximately $10,000 in the
 annual contributions of the City of Rochester for the fiscal year ending
 March 31, 2024. In future years, this cost  will  vary  as  the  billing
 rates and salary of Justin R. Whitmore change.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05543-02-3
 S. 6788                             2
              

 
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service cost of approximately $42,500 which will be
 borne by the State of New York as  a  one-time  payment.  This  estimate
 assumes that payment will be made on March 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 January 31,  2023,  and  intended  for  use  only
 during  the  2023  Legislative  Session,  is  Fiscal  Note  No. 2023-47,
 prepared by the Actuary for the New  York  State  and  Local  Retirement
 System.