Grants retroactive tier IV membership in the New York state and local employees' retirement system to Brian Stebbins.
Ayes (24): Flanagan, DeFrancisco, Bonacic, Carlucci, Farley, Hannon, Larkin, LaValle, Little, Marcellino, Seward, Skelos, Young, Valesky, Stewart-Cousins, Breslin, Dilan, Espaillat, Gianaris, Hassell-Thompson, Krueger, Montgomery, Parker, Perkins
Ayes W/R (1): Nozzolio
Ayes (62): Addabbo, Amedore, Avella, Bonacic, Boyle, Breslin, Carlucci, Comrie, Croci, DeFrancisco, Diaz, Dilan, Espaillat, Farley, Felder, Flanagan, Funke, Gallivan, Gianaris, Golden, Griffo, Hamilton, Hannon, Hassell-Thomps, Hoylman, Kennedy, Klein, Krueger, Lanza, Larkin, Latimer, LaValle, Little, Marcellino, Marchione, Martins, Montgomery, Murphy, Nozzolio, O'Mara, Ortt, Panepinto, Parker, Peralta, Perkins, Ranzenhofer, Ritchie, Rivera, Robach, Sampson, Sanders, Savino, Serino, Serrano, Seward, Skelos, Squadron, Stavisky, Stewart-Cousin, Valesky, Venditto, Young
Excused (1): Libous
TITLE OF BILL:
An act granting retroactive tier IV membership in the New York state and local employees' retirement system to Brian Stebbins
PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to grant Brian Stebbins retroactive tier membership in Tier IV.
SUMMARY OF SPECIFIC PROVISIONS:
Section one of this bill deems Brian Stebbins a member of the retirement system as of the date of his employment, on August 1, 2003, by the village of Green Island, if on or before December 31, 2015 he shall file an application therefore with the state comptroller. Upon the receipt of such an application, Brian Stebbins shall be granted Tier IV status in the New York state local employees' retirement system and be made eligible for all the rights and benefits thereof.
Section two provides that all past service costs will be borne by the village of Green Island.
Section three provides for an immediate effective date.
Brian Stebbins should be reinstated into Tier IV based upon his membership application in the New York state and local employees' retirement system, which was filed on August 1, 2003. This bill addresses concerns raised in the veto message, and reinforces evidence provided by the village of Green Island, that due to an administrative error and for reasons not ascribable to his own negligence, the application was not processed until March 15, 2012, therefore incorrectly placing him in Tier V.
PRIOR LEGISLATIVE HISTORY:
A.9236/S6936 of 2014; VETOED MEMO .549 A.7458-A /S.5564-A of 2013; VETOED MEMO .230 A 10728-A/S 7799 of 2012; Passed Assembly, Referred to Senate Rules
There is an immediate past service cost of approximately $4,630 which will be borne by the village of Green Island.
STATE OF NEW YORK ________________________________________________________________________ S. 4755 A. 6939 2015-2016 Regular Sessions S E N A T E - A S S E M B L Y April 15, 2015 ___________IN SENATE -- Introduced by Sen. BRESLIN -- read twice and ordered print- ed, and when printed to be committed to the Committee on Civil Service and Pensions IN ASSEMBLY -- Introduced by M. of A. McDONALD -- read once and referred to the Committee on Governmental Employees AN ACT granting retroactive tier IV membership in the New York state and local employees' retirement system to Brian Stebbins 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, Brian Stebbins, a member of the New York state and local employees' retirement system, who was employed on August 1, 2003, by the village of Green Island, and who filed a membership application in such system on August 1, 2003, which should have given him Tier IV status but for reasons not ascriba- ble to his own negligence and due to an administrative error, the appli- cation was not processed in the usual manner and therefore not processed until March 15, 2012, may be deemed to have become a member of the New York state and local employees' retirement system on August 1, 2003, if on or before December 31, 2015 he shall file an application therefor with the state comptroller. Upon the receipt of such application, Brian Stebbins shall be granted Tier IV status in the New York state and local employees' retirement system and be eligible for all the rights and benefits thereof. No contributions made to the New York state and local employees' retirement system by Brian Stebbins shall be returned to him pursuant to this act. S 2. Any past service costs incurred in implementing the provisions of this act shall be borne by the village of Green Island. S 3. This act shall take effect immediately. FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06294-02-5 S. 4755 2 A. 6939 This bill will grant Tier 4 status in the New York State and Local Employees' Retirement System to Brian M. Stebbins, a current Tier 5 member employed by the State of New York, by changing his date of membership to August 1, 2003, the first date he was employed by the Village of Green Island. If this legislation is enacted during the 2015 legislative session, we anticipate that there will be an increase of approximately $1,920 in the annual contributions of the State of New York for the fiscal year ending March 31, 2016. In future years, this cost will vary as the billing rates and salary of Brian M. Stebbins change. In addition to the annual contributions discussed above, there will be an immediate past service cost of approximately $4,630 which will be borne by the Village of Green Island as a one time payment. This esti- mate is based on the assumption that payment will be made on February 1, 2016. Summary of relevant resources: The membership data used in measuring the impact of the proposed change was the same as that used in the March 31, 2014 actuarial valu- ation. Distributions and other statistics can be found in the 2014 Report of the Actuary and the 2014 Comprehensive Annual Financial Report. The actuarial assumptions and methods used are described in the 2010, 2011, 2012, 2013 and 2014 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, 2014 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 estimate, dated February 5, 2015 and intended for use only during the 2015 Legislative Session, is Fiscal Note No. 2015-58, prepared by the Actuary for the New York State and Local Employees' Retirement system.