S T A T E   O F   N E W   Y O R K
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                                 7099--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             April 23, 2015
                               ___________

Introduced  by  M. of A. OTIS, ABINANTI -- read once and referred to the
  Committee on Governmental  Employees  --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT granting post service credit in  the  New  York  state  teachers'
  retirement system to Robin Levine

  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, Robin Levine, a
member of the New York state teachers' retirement  system,  who  started
working  in  the  Greenburgh-North  Castle Union Free School District on
September 1, 1988 as an employee of St. Christopher's  Inc.,  a  private
employer, and who was ineligible to file a membership application in the
New York state teachers' retirement system at such time may be deemed to
have  become  a member of the New York state teachers' retirement system
on September 1, 1988  and  have  her  service  credited  as  if  it  was
performed for a participating employer if on or before December 31, 2015
she  shall file with the head of the New York state teachers' retirement
system a written request to that effect. Upon granting of such  retroac-
tive  membership,  Robin  Levine  shall  not  be granted a refund of any
employee contribution made by  her  to  the  New  York  state  teachers'
retirement system.
  S  2.  Any costs associated or incurred in implementing the provisions
of this act shall be borne by Greenburgh-North Castle Union Free  School
District.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill  would allow Robin Levine, an active member of the New York
State Teachers' Retirement System with Tier 4 status, to receive service
credit for her employment with St. Christopher's Inc., a private employ-
er, from September 1, 1988 through August 31, 2001 and to have her  date

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03894-04-5
              

A. 7099--A                          2

of membership changed to September 1, 1988. Ms. Levine must file a writ-
ten  request  with  the  head of the New York State Teachers' Retirement
System on or before December 31, 2015 to that effect.
  The cost of this benefit is equal to the increase in the present value
of liabilities, which is estimated to be $323,000.
  Employee  data  is  from  the System's most recent actuarial valuation
files, consisting of data provided by the employers  to  the  Retirement
System.  Data  distributions and statistics can be found in the System's
Comprehensive Annual Financial  Report  (CAFR).  System  assets  are  as
reported  in the System's financial statements, and can also be found in
the CAFR. Actuarial assumptions and methods are provided in the System's
Actuarial Valuation Report.
  The source of this estimate is Fiscal Note  2015-19  dated  March  20,
2015  prepared by the Actuary of the New York State Teachers' Retirement
System and is intended for use only during the 2015 Legislative Session.
I, Richard A. Young, am the Actuary for the  New  York  State  Teachers'
Retirement  System.  I  am a member of the American Academy of Actuaries
and I meet the Qualification Standards of the American Academy of  Actu-
aries to render the actuarial opinion contained herein.