S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8643
 
                             I N  S E N A T E
 
                             February 26, 2024
                                ___________
 
 Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT in relation to authorizing Alexander D. Rusin to receive retroac-
   tive membership in the New York state and local employees'  retirement
   system
 
   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, Alexander D.
 Rusin, an employee of the Erie county water authority and  a  member  of
 the  New  York  state  and  local  employees' retirement system, who was
 employed as a seasonal meter service worker with the Erie  county  water
 authority  with  a start date of June 2, 2008 until August 22, 2008, who
 for reasons not ascribable to his own negligence,  failed  to  become  a
 member  of  such  retirement  system  during such employment by the Erie
 county water authority in 2008, shall be deemed to have joined  the  New
 York  state  and  local employees' retirement system on the date June 2,
 2008 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 employees'
 retirement system by Alexander D. Rusin 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 Erie county water authority.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would provide Alexander Rusin with a date of  membership  of
 June  2, 2008, their date of first employment with the Erie County Water
 Authority, resulting in Tier 4 status in the New York  State  and  Local
 Employees'  Retirement  System.  Alexander  Rusin  is currently a Tier 6
 member. There will be no refund of member contributions.
   If this bill is enacted during the 2024 Legislative Session, we antic-
 ipate that there will be an increase  of  approximately  $5,200  in  the
 annual  contributions  of the Erie County Water Authority for the fiscal
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14339-02-4
              

 S. 8643                             2
 
 year ending March 31, 2025. In future years this cost will vary  as  the
 billing rates and salary of Alexander Rusin change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service cost of approximately $65,100 which will be
 borne by the Erie County Water Authority as  a  one-time  payment.  This
 estimate assumes that payment will be made on February 1, 2025.
   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 February 3,  2024,  and  intended  for  use  only
 during  the  2024  Legislative  Session,  is  Fiscal  Note No. 2024-116,
 prepared by the Actuary for the New  York  State  and  Local  Retirement
 System.