S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4450
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 5, 2025
                                ___________
 
 Introduced  by  Sen. S. RYAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT granting retroactive tier IV membership in the New York state and
   local employees' retirement system to Maureen Sullivan Nasca

   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 to the contrary,
 Maureen  Sullivan  Nasca,  an employee of the Erie County Medical Center
 and a member of the New  York  state  and  local  employees'  retirement
 system,  who  was a full-time employee at the Roswell Park Comprehensive
 Cancer Center from December 7, 1995 to December 22, 2013, and  who,  for
 reasons  not ascribable to her own negligence, failed to become a member
 of such retirement system during such employment with the  Roswell  Park
 Comprehensive  Cancer Center in 1995, shall be deemed to have joined the
 New York state and local employees' retirement system  on  the  date  of
 December  7, 1995 and shall be granted Tier IV status in such retirement
 system if, within one year of the effective date of this act, she  shall
 file a written request with the state comptroller.
   §  2. No contributions made to the New York state and local employees'
 retirement system  by  Maureen  Sullivan  Nasca  shall  be  refunded  or
 returned to her pursuant to this act.
   § 3. All past service costs of implementing the provisions of this act
 shall be borne by the state of New York.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill would provide Maureen Sullivan Nasca with a date of member-
 ship of December 7, 1995, resulting in Tier 4 status  in  the  New  York
 State  and Local Employees' Retirement System. Maureen Sullivan Nasca is
 currently a Tier 6 member employed by Erie County Medical Center.  There
 will be no refund of member contributions.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04253-02-5
 S. 4450                             2
              

 
   If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate  that  there  will  be an increase of approximately $68,000 in the
 annual contributions of the Erie County Medical Center  for  the  fiscal
 year  ending  March 31, 2026. In future years this cost will vary as the
 billing rates and salary of Maureen Sullivan Nasca change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $1.74 million 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, 2026.
   Summary of relevant resources:
   Membership data as of March 31, 2024 was used in measuring the  impact
 of the proposed change, the same data used in the April 1, 2024 actuari-
 al  valuation.  Distributions  and  other statistics can be found in the
 2024 Report of the Actuary and the 2024 Annual  Comprehensive  Financial
 Report.  The actuarial assumptions and methods used are described in the
 2024  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, 2024 New York State and Local Retirement System Financial Statements
 and Supplementary Information.
   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 4,  2025,  and  intended  for  use  only
 during  the  2025  Legislative  Session,  is Fiscal Note No. 2025-38. As
 Chief Actuary of the New York State  and  Local  Retirement  System,  I,
 Aaron  Schottin  Young,  hereby certify that this analysis complies with
 applicable Actuarial Standards of  Practice  as  well  as  the  Code  of
 Professional  Conduct  and Qualification Standards for Actuaries Issuing
 Statements of Actuarial Opinion of the American Academy of Actuaries, of
 which I am a member.