NY State Senate Bill 2023-S9870

Senate Bill S9870

2023-2024 Legislative Session

Authorizes an optional twenty-five year retirement plan for fire marshals I or supervisors of such title in Suffolk county

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Current Bill Status - In Senate Committee Rules 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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jul 03, 2024	referred to rules

2023-S9870 (ACTIVE) - Details

Current Committee:: Senate Rules
Law Section:: Retirement and Social Security Law
Laws Affected:: Amd §§604, 603 & 445, add §89-y, R & SS L

2023-S9870 (ACTIVE) - Summary

Authorizes an optional twenty-five year retirement plan for fire marshals I and supervisors of such title in Suffolk county.

2023-S9870 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S9870

SPONSOR: MARTINEZ
 
TITLE OF BILL:

An act to amend the retirement and social security law, in relation to
an optional twenty-five year retirement plan for fire marshals I and
supervisors of such title in Suffolk county

 
PURPOSE:

The purpose of this bill is to authorize an optional twenty-five year
retirement plan for fire marshals in Suffolk County.

 
SUMMARY OF PROVISIONS:

Section 1. Amends Section 604 of the retirement and social security law
by adding a new subdivision w establishing the early service retirement
benefit for fire marshal I and supervisors of such title in Suffolk
County.

Section 2. Amends the retirement and social security law by adding a new

section 89-y establishing parameters and qualifications for the retire-
ment plan.

Section 3. Amends section 603 of the retirement and social security law
by adding a new subdivision w clarifying that the service retirement
benefit shall be payable only to qualified members with sufficient cred-
ible service.

Section 4. Amends Subdivision a of section 445 of the retirement and
social security law, as amended by chapter 714 of the laws of 2023
exempting fire marshal I and supervisors of such title in Suffolk County
from restrictions related to their retirement of service.

Section 5. Clarifies that all past service costs associated with this
act's implementation shall be borne by a participating employer that
makes the election provided for in subdivision 89-y of the retirement
and social security law.

Section 6. Establishes the enacting clause.

 
JUSTIFICATION:

Fire marshals play a critical role in public safety through their dili-
gent efforts in fire investigation, hazard identification, and enforce-
ment of fire codes. They are responsible for examining the causes of
fires, including suspected arson cases, to ensure justice and prevent
future incidents. By enforcing strict adherence to fire safety regu-
lations, fire marshals mitigate risks in buildings and facilities,
thereby safeguarding lives and property from the devastating effects of
fires. Their proactive approach not only addresses immediate safety
concerns but also fosters a culture of fire prevention within communi-
ties, promoting overall public well-being.

Given the demanding and often hazardous nature of their work, fire
marshals deserve retirement benefits that recognize their years of dedi-
cated service. These benefits acknowledge their invaluable contribution
to public safety and provide essential financial security as they tran-
sition into retirement. Supporting fire marshals with retirement bene-
fits is a commonsense mechanism in recruitment and retainment efforts
and further reinforces their noble dedication in maintaining community
safety and fire prevention efforts across New York State.

 
FISCAL IMPLICATIONS:

See Fiscal Note.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2023-S9870 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9870
 
                             I N  S E N A T E
 
                               July 3, 2024
                                ___________
 
 Introduced  by Sen. MARTINEZ -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the retirement and social security law, in  relation  to
   an  optional  twenty-five year retirement plan for fire marshals I and
   supervisors of such title in Suffolk county
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  604 of the retirement and social security law is
 amended by adding a new subdivision w to read as follows:
   W. THE EARLY SERVICE RETIREMENT BENEFIT FOR A MEMBER WHO  IS  EMPLOYED
 BY  THE  COUNTY OF SUFFOLK OR A PARTICIPATING EMPLOYER THAT IS A TOWN OR
 VILLAGE IN THE COUNTY OF SUFFOLK THAT MAKES THE ELECTION PROVIDED FOR IN
 SUBDIVISION J OF SECTION EIGHTY-NINE-Y OF THIS CHAPTER AS A FIRE MARSHAL
 I OR SUPERVISOR OF SUCH TITLE AS DEFINED  IN  SECTION  EIGHTY-NINE-Y  OF
 THIS  CHAPTER  SHALL BE A PENSION EQUAL TO ONE-FIFTIETH OF FINAL AVERAGE
 SALARY TIMES YEARS OF CREDITED SERVICE AT THE COMPLETION OF  TWENTY-FIVE
 YEARS  OF SERVICE AS A FIRE MARSHAL I OR SUPERVISOR OF SUCH TITLE IN THE
 COUNTY OF SUFFOLK OR A PARTICIPATING EMPLOYER THAT IS A TOWN OR  VILLAGE
 IN  THE  COUNTY  OF  SUFFOLK BUT NOT EXCEEDING ONE-HALF OF SUCH MEMBER'S
 FINAL AVERAGE SALARY; FOR SERVICE BEYOND TWENTY-FIVE YEARS THE  BENEFITS
 SHALL  INCREASE BY ONE-SIXTIETH OF FINAL AVERAGE SALARY FOR EACH YEAR OF
 ADDITIONAL SERVICE CREDIT PROVIDED, HOWEVER, THAT  THE  TOTAL  ALLOWANCE
 PAYABLE  PURSUANT TO THIS SECTION SHALL NOT EXCEED THREE-FOURTHS OF SUCH
 MEMBER'S FINAL AVERAGE SALARY.
   § 2. The retirement and social security law is amended by adding a new
 section 89-y to read as follows:
   § 89-Y. RETIREMENT OF MEMBERS EMPLOYED AS A FIRE MARSHAL I OR SUPERVI-
 SOR OF SUCH TITLE IN THE COUNTY OF SUFFOLK OR A  PARTICIPATING  EMPLOYER
 THAT  IS  A  TOWN  OR  VILLAGE  IN  THE COUNTY OF SUFFOLK. A. ANY MEMBER
 EMPLOYED ON OR BEFORE THE ENACTMENT OF THIS SECTION AS A FIRE MARSHAL  I
 OR SUPERVISOR OF SUCH TITLE UPON AN ELECTION BY THE COUNTY OF SUFFOLK OR
 A  PARTICIPATING  EMPLOYER  THAT  IS  A TOWN OR VILLAGE IN THE COUNTY OF
 SUFFOLK SHALL BE ELIGIBLE TO RETIRE PURSUANT TO THE PROVISIONS  OF  THIS
 SECTION.  SUCH  ELIGIBILITY  SHALL  BE AN ALTERNATIVE TO THE ELIGIBILITY
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD15590-04-4
 S. 9870                             2

 PROVISIONS AVAILABLE UNDER ANY OTHER PLAN OF THIS ARTICLE TO WHICH  SUCH
 MEMBER IS SUBJECT.
   B.  SUCH  MEMBER  SHALL  BE  ENTITLED TO RETIRE UPON THE COMPLETION OF
 TWENTY-FIVE YEARS OF TOTAL CREDITABLE SERVICE BY FILING  AN  APPLICATION
 THEREFOR IN THE MANNER PROVIDED FOR IN SECTION SEVENTY OF THIS ARTICLE.
   C.  UPON  COMPLETION  OF  TWENTY-FIVE  YEARS  OF SUCH SERVICE AND UPON
 RETIREMENT, EACH SUCH MEMBER SHALL RECEIVE  A  PENSION  WHICH,  TOGETHER
 WITH  AN  ANNUITY WHICH SHALL BE THE ACTUARIAL EQUIVALENT OF ACCUMULATED
 CONTRIBUTIONS AT THE TIME OF RETIREMENT AND AN ADDITIONAL PENSION  WHICH
 IS  THE ACTUARIAL EQUIVALENT OF THE RESERVED-FOR-INCREASED-TAKE-HOME-PAY
 TO WHICH SUCH MEMBER MAY THEN BE ENTITLED SHALL BE SUFFICIENT TO PROVIDE
 A RETIREMENT ALLOWANCE EQUAL TO ONE-HALF OF SUCH MEMBER'S FINAL  AVERAGE
 SALARY.
   D.  AS  USED  IN  THIS  SECTION "CREDITABLE SERVICE" SHALL INCLUDE ALL
 SERVICES PERFORMED AS A FIRE MARSHAL  I  OR  SUPERVISOR  OF  SUCH  TITLE
 EMPLOYED  BY THE COUNTY OF SUFFOLK OR A PARTICIPATING EMPLOYER THAT IS A
 TOWN OR VILLAGE IN THE COUNTY OF SUFFOLK THAT HAS ELECTED TO PROVIDE THE
 BENEFITS PROVIDED BY THIS SECTION.
   E. CREDIT FOR SERVICE AS A PAID FIREFIGHTER OR OFFICER OF  ANY  ORGAN-
 IZED  FIRE  DEPARTMENT SHALL ALSO BE DEEMED TO BE CREDITABLE SERVICE AND
 SHALL BE INCLUDED IN COMPUTING YEARS OF  TOTAL  SERVICE  FOR  RETIREMENT
 PURSUANT TO THIS SECTION.
   F.  A  MEMBER CONTRIBUTING ON THE BASIS OF THIS SECTION AT THE TIME OF
 RETIREMENT, MAY RETIRE AFTER THE  COMPLETION  OF  TWENTY-FIVE  YEARS  OF
 TOTAL  CREDITABLE SERVICE. APPLICATION THEREFOR MAY BE FILED IN A MANNER
 SIMILAR TO THAT PROVIDED  IN  SECTION  SEVENTY  OF  THIS  ARTICLE.  UPON
 COMPLETION  OF  TWENTY-FIVE  YEARS  OF SUCH SERVICE AND UPON RETIREMENT,
 EACH SUCH MEMBER SHALL RECEIVE A PENSION WHICH, TOGETHER WITH AN ANNUITY
 WHICH SHALL BE THE ACTUARIAL EQUIVALENT OF ACCUMULATED CONTRIBUTIONS  AT
 THE  TIME OF RETIREMENT AND AN ADDITIONAL PENSION WHICH IS THE ACTUARIAL
 EQUIVALENT OF THE  RESERVED-FOR-INCREASED-TAKE-HOME-PAY  TO  WHICH  SUCH
 MEMBER  MAY THEN BE ENTITLED SHALL BE SUFFICIENT TO PROVIDE A RETIREMENT
 ALLOWANCE EQUAL TO ONE-HALF OF SUCH MEMBER'S FINAL AVERAGE  SALARY;  FOR
 SERVICE  BEYOND TWENTY-FIVE YEARS THE BENEFIT IS INCREASED BY ONE-SIXTI-
 ETH OF FINAL AVERAGE SALARY FOR EACH YEAR OF ADDITIONAL  SERVICE  CREDIT
 PROVIDED,  HOWEVER,  THAT  THE  TOTAL ALLOWANCE PAYABLE PURSUANT TO THIS
 SECTION SHALL NOT EXCEED THREE-FOURTHS OF SUCH  MEMBER'S  FINAL  AVERAGE
 SALARY.
   G.  IN  COMPUTING  THE  TWENTY-FIVE YEARS OF TOTAL SERVICE OF A MEMBER
 PURSUANT TO THIS SECTION FULL CREDIT SHALL BE GIVEN AND  FULL  ALLOWANCE
 SHALL  BE MADE FOR SERVICE OF SUCH MEMBER IN TIME OF WAR AFTER WORLD WAR
 I AS DEFINED IN SECTION TWO OF THIS CHAPTER, PROVIDED SUCH MEMBER AT THE
 TIME OF ENTRANCE INTO THE ARMED FORCES WAS EMPLOYED BY  A  PARTICIPATING
 EMPLOYER PURSUANT TO THIS SECTION.
   H. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO PREVENT A MEMBER, WHO
 DOES NOT RETIRE PURSUANT TO THE PROVISIONS OF THIS SECTION, FROM UTILIZ-
 ING  SERVICE  WHICH  IS CREDITABLE SERVICE PURSUANT TO THE PROVISIONS OF
 THIS SECTION FOR SERVICE CREDIT PURSUANT TO THE PROVISIONS OF ANY  OTHER
 PLAN OF THIS ARTICLE TO WHICH SUCH MEMBER IS SUBJECT.
   I. THE PROVISIONS OF THIS SECTION SHALL BE CONTROLLING NOTWITHSTANDING
 ANY OTHER PROVISION OF THIS ARTICLE TO THE CONTRARY.
   J.  SUFFOLK COUNTY, OR A TOWN OR VILLAGE IN THE COUNTY OF SUFFOLK THAT
 ELECTS PURSUANT TO THE PROVISIONS OF THIS SUBDIVISION SHALL PAY THE COST
 ATTRIBUTABLE THEREFOR.  THE BENEFITS OF THIS SECTION SHALL BE  AVAILABLE
 ONLY  TO  THOSE  MEMBERS  DEFINED IN SUBDIVISION A OF THIS SECTION WHOSE
 EMPLOYER ELECTS TO PROVIDE SUCH BENEFITS BY  ADOPTING  A  RESOLUTION  TO
 S. 9870                             3
 
 SUCH  EFFECT  AND  FILING A CERTIFIED COPY THEREOF WITH THE COMPTROLLER.
 SUCH RESOLUTION SHALL BE ACCOMPANIED BY THE AFFIDAVIT OF THE CHIEF EXEC-
 UTIVE OFFICER OF THE COUNTY OF SUFFOLK OR A TOWN OR VILLAGE IN THE COUN-
 TY  OF SUFFOLK THAT THE COUNTY, TOWN OR VILLAGE HAS RECEIVED AN ESTIMATE
 FROM THE RETIREMENT SYSTEM OF THE COST OF THE BENEFIT PROVIDED  BY  THIS
 SECTION.  SUCH RESOLUTION SHALL APPLY TO ALL MEMBERS DEFINED IN SUBDIVI-
 SION A OF THIS SECTION.
   §  3. Section 603 of the retirement and social security law is amended
 by adding a new subdivision w to read as follows:
   W. THE SERVICE RETIREMENT BENEFIT SPECIFIED  IN  SECTION  SIX  HUNDRED
 FOUR  OF THIS ARTICLE SHALL BE PAYABLE TO MEMBERS WITH TWENTY-FIVE YEARS
 OF CREDITABLE SERVICE, WITHOUT REGARD TO AGE, WHO ARE  EMPLOYED  BY  THE
 COUNTY  OF SUFFOLK OR A PARTICIPATING EMPLOYER THAT IS A TOWN OR VILLAGE
 IN THE COUNTY OF SUFFOLK THAT MAKES THE ELECTION PROVIDED FOR IN  SUBDI-
 VISION J OF SECTION EIGHTY-NINE-Y OF THIS CHAPTER AS A FIRE MARSHAL I OR
 SUPERVISOR  OF  SUCH  TITLE  AS DEFINED IN SECTION EIGHTY-NINE-Y OF THIS
 CHAPTER IF:  (I) SUCH MEMBERS HAVE MET THE MINIMUM SERVICE  REQUIREMENTS
 UPON  RETIREMENT;  AND  (II)  IN  THE  CASE  OF  A MEMBER SUBJECT TO THE
 PROVISIONS OF ARTICLE FOURTEEN OF THIS CHAPTER,  SUCH  MEMBER  FILES  AN
 ELECTION  THEREFOR  WHICH  PROVIDES THAT SUCH MEMBER SHALL BE SUBJECT TO
 THE PROVISIONS OF THIS ARTICLE AND TO NONE OF  THE  PROVISIONS  OF  SUCH
 ARTICLE FOURTEEN. SUCH ELECTION, WHICH SHALL BE IRREVOCABLE, SHALL BE IN
 WRITING,  DULY  EXECUTED  AND SHALL BE FILED WITH THE COMPTROLLER WITHIN
 ONE YEAR OF THE ELECTION SUCH MEMBER'S EMPLOYER MAKES PURSUANT TO SUBDI-
 VISION J OF SECTION EIGHTY-NINE-Y OF THIS CHAPTER  OR  WITHIN  ONE  YEAR
 AFTER  ENTERING  THE  EMPLOYMENT  WITH  THE PARTICIPATING SUFFOLK COUNTY
 EMPLOYER UPON WHICH ELIGIBILITY IS BASED, WHICHEVER COMES LATER. FOR THE
 PURPOSES OF THIS SUBDIVISION, THE TERM "CREDITABLE SERVICE"  SHALL  HAVE
 THE MEANING AS SO DEFINED IN BOTH SECTIONS EIGHTY-NINE-Y AND SIX HUNDRED
 ONE OF THIS CHAPTER.
   § 4. Subdivision a of section 445 of the retirement and social securi-
 ty  law,  as  amended  by chapter 714 of the laws of 2023, is amended to
 read as follows:
   a. No member of a retirement system who is subject to  the  provisions
 of this article shall retire without regard to age, exclusive of retire-
 ment for disability, unless [he or she] SUCH MEMBER is a police officer,
 an  investigator  member  of  the  New  York  city employees' retirement
 system, firefighter, correction officer, a qualifying member as  defined
 in section eighty-nine-t, as added by chapter six hundred fifty-seven of
 the  laws  of nineteen hundred ninety-eight, of this chapter, sanitation
 worker, a special officer (including persons employed by the city of New
 York in the title urban park ranger or  associate  urban  park  ranger),
 school  safety  agent,  campus  peace  officer  or  a taxi and limousine
 commission inspector member of the New York city  employees'  retirement
 system  or  the  New  York  city board of education retirement system, a
 dispatcher member of the New York city employees' retirement  system,  a
 police  communications member of the New York city employees' retirement
 system, an EMT member of the New York city employees' retirement system,
 a deputy sheriff member of  the  New  York  city  employees'  retirement
 system,  a  correction  officer  of  the  Westchester  county correction
 department as defined  in  section  eighty-nine-e  of  this  chapter  or
 employed  in  Suffolk  county  as a peace officer, as defined in section
 eighty-nine-s, as added by chapter five hundred eighty-eight of the laws
 of nineteen hundred ninety-seven, of this chapter, employed  in  Suffolk
 county  as  a correction officer, as defined in section eighty-nine-f of
 this chapter, or employed in Nassau  county  as  a  correction  officer,
 S. 9870                             4
 
 uniformed correction division personnel, sheriff, undersheriff or deputy
 sheriff,  as  defined  in  section  eighty-nine-g  of  this  chapter, or
 employed in Nassau county as an ambulance medical technician,  an  ambu-
 lance  medical  technician/supervisor or a member who performs ambulance
 medical technician related services, or a  police  medic,  police  medic
 supervisor  or  a  member who performs police medic related services, as
 defined in section eighty-nine-s, as amended  by  chapter  five  hundred
 seventy-eight  of  the  laws  of  nineteen hundred ninety-eight, of this
 chapter, or employed in Nassau county as a peace officer, as defined  in
 section  eighty-nine-s,  as added by chapter five hundred ninety-five of
 the laws of nineteen hundred ninety-seven, of this chapter, or  employed
 in  Albany county as a sheriff, undersheriff, deputy sheriff, correction
 officer or identification officer, as defined in  section  eighty-nine-h
 of  this  chapter  or  is  employed in St. Lawrence county as a sheriff,
 undersheriff, deputy  sheriff  or  correction  officer,  as  defined  in
 section  eighty-nine-i  of this chapter or is employed in Orleans county
 as a sheriff, undersheriff, deputy sheriff  or  correction  officer,  as
 defined  in  section  eighty-nine-l  of  this  chapter or is employed in
 Jefferson  county  as  a  sheriff,  undersheriff,  deputy   sheriff   or
 correction  officer, as defined in section eighty-nine-j of this chapter
 or is employed in Onondaga county  as  a  deputy  sheriff-jail  division
 competitively  appointed  or  as  a  correction  officer,  as defined in
 section eighty-nine-k of this chapter or is employed in a  county  which
 makes  an  election under subdivision j of section eighty-nine-p of this
 chapter as a sheriff, undersheriff, deputy sheriff or correction officer
 as defined in such section eighty-nine-p or is employed in Broome County
 as a sheriff, undersheriff, deputy sheriff  or  correction  officer,  as
 defined  in  section eighty-nine-m of this chapter or is a Monroe county
 deputy sheriff-court security, or deputy sheriff-jailor  as  defined  in
 section  eighty-nine-n, as added by chapter five hundred ninety-seven of
 the laws of nineteen hundred ninety-one, of this chapter or is  employed
 in   Greene  county  as  a  sheriff,  undersheriff,  deputy  sheriff  or
 correction officer, as defined in section eighty-nine-o of this  chapter
 or  is  a  traffic officer with the town of Elmira as defined in section
 eighty-nine-q of this chapter or is employed by Suffolk county as a park
 police officer, as defined in section eighty-nine-r of this  chapter  or
 is  a peace officer employed by a county probation department as defined
 in section eighty-nine-t, as added by chapter six hundred three  of  the
 laws of nineteen hundred ninety-eight, of this chapter or is employed in
 Rockland  county as a deputy sheriff-civil as defined in section eighty-
 nine-v of this chapter as added by chapter four hundred forty-one of the
 laws of two thousand one, or is employed in Rockland county as a superi-
 or correction officer as defined in section eighty-nine-v of this  chap-
 ter  as added by chapter five hundred fifty-six of the laws of two thou-
 sand one or is a paramedic employed by the police department in the town
 of Tonawanda and retires under the provisions of  section  eighty-nine-v
 of  this  chapter,  as  added by chapter four hundred seventy-two of the
 laws of two thousand one, or is a county fire marshal, supervising  fire
 marshal,  fire  marshal,  assistant  fire  marshal, assistant chief fire
 marshal, chief fire marshal, division supervising fire marshal  or  fire
 marshal  trainee  employed by the county of Nassau as defined in section
 eighty-nine-w of this chapter or is employed in Monroe county as a depu-
 ty sheriff-civil as defined in section eighty-nine-x  of  this  chapter,
 employed  as  an emergency medical technician, critical care technician,
 advanced emergency medical technician, paramedic or supervisor  of  such
 titles  in  a  participating  Suffolk county fire district as defined in
 S. 9870                             5
 
 section eighty-nine-ss of this chapter, EMPLOYED AS A FIRE MARSHAL I  OR
 SUPERVISOR  OF  SUCH  TITLE  IN THE COUNTY OF SUFFOLK OR A PARTICIPATING
 EMPLOYER THAT IS A TOWN OR VILLAGE IN THE COUNTY OF SUFFOLK  AS  DEFINED
 IN SECTION EIGHTY-NINE-Y OF THIS CHAPTER, and is in a plan which permits
 immediate  retirement  upon  completion of a specified period of service
 without regard to age.  Except as provided in subdivision c  of  section
 four hundred forty-five-a of this article, subdivision c of section four
 hundred  forty-five-b  of  this  article,  subdivision c of section four
 hundred forty-five-c of this article,  subdivision  c  of  section  four
 hundred  forty-five-d  of  this  article,  subdivision c of section four
 hundred forty-five-e of this article,  subdivision  c  of  section  four
 hundred  forty-five-f  of this article and subdivision c of section four
 hundred forty-five-h of this article, a member in such a plan  and  such
 an occupation, other than a police officer or investigator member of the
 New  York  city employees' retirement system or a firefighter, shall not
 be permitted to retire prior to the completion of twenty-five  years  of
 credited service; provided, however, if such a member in such an occupa-
 tion  is  in  a  plan which permits retirement upon completion of twenty
 years of service regardless of age, [he or she] SUCH MEMBER  may  retire
 upon  completion  of  twenty  years of credited service and prior to the
 completion of twenty-five years of service, but in such event the  bene-
 fit  provided  from  funds other than those based on such a member's own
 contributions shall not exceed two per centum of  final  average  salary
 per each year of credited service.
   §   5.  All  past  service  costs  associated  with  implementing  the
 provisions of this act shall be borne by a participating  employer  that
 makes  the  election  provided for in subdivision 89-y of the retirement
 and social security law.
   § 6. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would permit Suffolk  County  or  any  town  or  village  in
 Suffolk County that participates in the New York State and Local Employ-
 ees'  Retirement  System to elect to provide individuals employed in the
 title of Fire Marshal I or supervisors of  such  title,  the  option  to
 retire upon completion of twenty-five years of creditable service with a
 benefit  of  one-half  of  final  average salary (FAS) and an additional
 benefit of one-sixtieth of FAS for each year of  creditable  service  in
 excess of twenty-five years, not to exceed three-fourths (75%) of FAS.
   Additionally,  for those members covered under the provisions of Arti-
 cle 14, this bill would permit an irrevocable election  to  forfeit  the
 benefits  of  Article  14 in favor of the twenty-five-year plan benefit.
 Such election must be made within one  year  of  the  election  of  such
 member's employer to provide these benefits or within one year of enter-
 ing  employment  with  a participating Suffolk County employer in any of
 the above titles, whichever comes later.
   If this bill is enacted during the 2024 Legislative Session, we antic-
 ipate that there will be an increase in the annual contributions of  any
 electing employer of approximately 5% of the salary paid to employees in
 covered  titles  for  the  fiscal year ending March 31, 2025.  In future
 years, this cost will vary as the billing rates of the affected  members
 change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service  cost  which  will be borne by the electing
 employer as a one-time payment. This cost is expected to average approx-
 imately 36% of the salary paid to employees in  covered  titles.    This
 S. 9870                             6
 
 estimate assumes that payment will be made on February 1st in the fiscal
 year following the employer election.
   Further,   we   anticipate   administrative  costs  to  implement  the
 provisions of this legislation.
   The exact number of current members as  well  as  future  members  who
 could  be  affected  by  this  legislation cannot be readily determined.
 Prior to electing to provide these benefits, an eligible employer  would
 be  required  to submit a roster of individuals in covered titles to the
 New York State and Local Retirement System. This roster would be used to
 develop an exact cost for the individual employer  electing  to  provide
 these benefits.
   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 June 6, 2024, and intended for  use  only  during
 the  2024  Legislative Session, is Fiscal Note No. 2024-197, prepared by
 the Actuary for the New York State and Local Retirement System.

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