NY State Senate Bill 2015-S5596

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2016	referred to civil service and pensions returned to senate died in assembly
May 28, 2015	referred to governmental employees delivered to assembly passed senate
May 27, 2015	ordered to third reading cal.1006 committee discharged and committed to rules
May 15, 2015	referred to civil service and pensions

Votes

- May 28, 2015 - Floor Vote
  S5596
  
  58
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  5
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: May 28, 2015
      
      aye (58)
      
      Addabbo Jr.
      
      Amedore
      
      Avella
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Carlucci
      
      Comrie
      
      Croci
      
      DeFrancisco
      
      Dilan
      
      Espaillat
      
      Farley
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Hamilton
      
      Hannon
      
      Hoylman-Sigal
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Latimer
      
      Little
      
      Marcellino
      
      Marchione
      
      Martins
      
      Montgomery
      
      Murphy
      
      Nozzolio
      
      O'Mara
      
      Ortt
      
      Panepinto
      
      Peralta
      
      Perkins
      
      Ranzenhofer
      
      Ritchie
      
      Robach
      
      Sampson
      
      Sanders Jr.
      
      Savino
      
      Serino
      
      Serrano
      
      Seward
      
      Skelos
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Valesky
      
      Venditto
      
      Young
      
      excused (5)
      
      Diaz
      
      Hassell-Thompson
      
      Libous
      
      Parker
      
      Rivera
  May 27, 2015 - Rules Committee Vote
  S5596
  
  21
  
  Aye
  
  0
  
  Nay
  
  3
  
  Aye with Reservations
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: May 27, 2015
      
      aye (21)
      
      Bonacic
      
      Breslin
      
      Carlucci
      
      DeFrancisco
      
      Dilan
      
      Espaillat
      
      Farley
      
      Flanagan
      
      Gianaris
      
      Hannon
      
      LaValle
      
      Larkin
      
      Little
      
      Marcellino
      
      Nozzolio
      
      Parker
      
      Seward
      
      Skelos
      
      Stewart-Cousins
      
      Valesky
      
      Young
      
      aye wr (3)
      
      Krueger
      
      Montgomery
      
      Perkins
      
      excused (1)
      
      Hassell-Thompson

co-Sponsors

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2015-S5596 (ACTIVE) - Details

Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement and Social Security Law
Laws Affected:: Amd §§1205, 506, 507, 510, 511 & 512, R & SS L; amd §§13-357 & 13-353.1, NYC Ad Cd; amd §§207-k, 207-kk, 207-p & 207-q, Gen Muni L

2015-S5596 (ACTIVE) - Summary

Relates to the disability benefits of members of the New York city police and fire pension funds.

2015-S5596 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S5596

TITLE OF BILL:

An act to amend the retirement and social security law, the administra-
tive code of the city of New York, and the general municipal law, in
relation to the disability benefits of members of the New York city
police and fire pension funds

SUMMARY OF PROVISIONS:

Section one of this bill amends section 1205 of the Retirement and
Social Security Law to reopen the election for those members who joined
the New York State and Local Police and Fire Retirement System pursuant
to the provisions of Article 14 of the Retirement and Social Security
Law so that those members who did not previously elect to have their
benefits calculated pursuant to Article 22 to make such an election.

Section two of this bill amends sections 13-357(a) and 13-357(b) of the
Administrative Code of New York City, subdivision (a) as amended by the
Laws of 1986, to include disability pensioners who have retired pursuant
to Section 506 and Section 507 of the Retirement and Social Security
Law.

Section three of this bill adds subdivisions (e) and (f) to Section 506
of the Retirement and Social Security Law. Subdivisions (e) and (f)

respectively allow New York City fire and police pension fund members to
be eligible for ordinary disability retirement benefits pursuant to
sections 13-216, 13-251, 13-252, 13-254, 13-316 or 13-357 of the New
York City Administrative Code, as applicable to the retiring member. A
member who retires under any of these Administrative Code provisions
shall receive an annuity equal to his or her accumulated contributions,
a pension equal to the reserve-for-increased-take-home-pay for him or
her, and a pension equal to one-fortieth of his or her final average
salary multiplied by the number of years of city-service credited to him
or her but not less than half of his or her Final Average Salary ("FAS")
if his or her credited years are ten or more, or one-third of his or her
FAS if his or her credited years are less than ten.

Section four of this bill adds subdivisions (j) and (k) to Section 507
of the Retirement and Social Security Law. Subdivisions (j) and (k)
respectively allow New York City fire and police pension fund members to
be eligible for accidental disability retirement pursuant to sections
13-215, 13-252, 13-254, 13-316, 13-353- 13-354, or 13-357 of the New
York City Administrative Code. These new subdivisions provide that a
retiree shall receive an annuity equal to his or her accumulated
contributions, a pension equal to the reserve-for-increased-take-home-
pay for him or her, and a pension equal to 75 percent of his or her FAS.

Section five of this bill adds subdivision (i) to Section 510 of the
Retirement and Social Security Law. Subdivision (i) provides that annual
escalation shall not apply to the ordinary or accidental disability

retirement benefits for those who retire pursuant to Sections 506 and
507 of the Retirement and Social Security Law.  Instead, their benefits
shall be adjusted for cost-of-living pursuant to Section 13-696 of the
New York City Administrative Code.

Section six of this bill amends Section 511(f) of the Retirement and
Social Security Law to provide that this section shall not apply to New
York City police and fire pension members who are subject to Article 14
of the Retirement and Social Security Law.

Section seven of this bill adds subdivisions (e) and (f) to Section 512
of the Retirement and Social Security Law. Subdivisions (e) and (f)
respectively provide that New York City fire and police pension members
FAS shall mean the salary earned the year prior to retirement, unless
that salary is 20 percent more than the year prior to that, in which
case that excess 20 percent is excluded from the FAS computation.
Authorized leaves of absence shall be excluded from the FAS computation
as well.

Section eight of this bill reletters paragraph (b) of Section
13-353.1(1) of the New York City Administrative Code to (c) and adds a
new paragraph (b). New paragraph (b) states that in order to be eligible
for the World Trade Center presumption provided by paragraph (a) of this
subdivision, a member must have passed a physical exam for entry into
public service that failed to disclose evidence of the qualifying condi-
tion that is the basis for the disability, or have authorized for the
release of medical records if he or she did not have a physical exam for
entry into public service and there is no evidence in those records that
the qualifying condition that serves as the basis for the disability
existed before September 11, 2001.

Section nine of this bill amends section 207-k of the General Municipal
Law to extend the current presumption for diseases of the heart and
strokes to medical officers employed by the New York City fire depart-
ment.

Section ten of this bill amends section 207-kk of the General Municipal
Law to extend the current presumption for certain cancers to medical
officers employed by the New York City fire department.

Section eleven of this bill amends section 207-p of the General Munici-
pal Law to extend the current presumption for HIV to medical officers
employed by the New York City fire department.

Section twelve of this bill amends section 207-q of the General Munici-
pal Law to extend the current presumption for lung diseases to medical
officers employed by the New York City fire department.

Section thirteen of this bill provides that this act shall take effect
on the sixtieth day after it shall become a law; provided, however, that
amendments to sections 207-k, 207-kk and 207-q of the general municipal
law made by sections nine, ten and twelve of this act shall not affect

the expiration of such sections, as provided in section 480 of the
retirement and social security law.

JUSTIFICATION:

In 2009, Governor Paterson vetoed a Tier 2 extension bill for all New
York State Police and Fire pension members. In Veto Memorandum 5, Gover-
nor Paterson stated that due to the "recession and fiscal crisis," as
well as the Comptroller's announcement that the "New York State Pension
Fund lost 26% of its value in the most recent fiscal year," led to his
decision not to "ignore the present reality, and simply re-enact the
same provisions that have contributed to New York's financial straits,
without accompanying reform." This reform, which was Tier V, was
approved on December 10, 2009 as Chapter 504 of the Laws of 2009.

Shortly after Governor Paterson issued Veto Memorandum 5, most of the
State Police and Fire unions negotiated with management and agreed to a
Tier V benefit plan. Members of these unions that were hired on or after
July 1, 2009 were provided with the option to change the calculation of
their retirement benefits from Article 14 of the Retirement and Social
Security Law to Article 22. For those members continue to have their
retirement benefits computed pursuant to Article 14 of the Retirement
and Social Security Law, this bill would reopen the option that was
available when Tier V was enacted. Tier V was not welcomed warmly. There
were mixed reports regarding whether Tier V was beneficial to the
members. Reopening this option is important because as the years have
gone by, members who failed opt into Article 22 for whatever reason,
whether it be confusion regarding what the election meant or the differ-
ences between Articles 14 and 22, may wish to make such an election.

The Mayor of New York City would not agree to the same Tier V benefits,
resulting in no new pension plan agreement covering New York City Police
and Fire members. With no new pension plan, New York City Police and
Fire members defaulted into the original Article 14 Tier III pension
plan. Tier III provides very limited disability benefits, which are only
50% of the member's final average salary, which is reduced by 50% of the
primary social security benefit received. Tier II members receive an
accidental disability benefit equaling 75% of the member's final average
salary with no reduction for primary social security benefits received
by the member.

An example in the difference in these benefits is illustrated by the
potential accidental disability benefits that would be provided to
Police Officer Kenneth Healey. On October 23, 2014, by a man wielding an
18 inch hatchet struck Officer Healey in the head while he was standing
on a sidewalk with three other police officers in Jamaica, Queens. As a
result of the attack Officer Healy was hospitalized for five days and
has underwent two surgeries on his skull. If Officer Healy received an
accidental disability pension due to his injuries, the amount of the
pension would be approximately $21,000 per year, with a reduction in an
amount equaling 50% of any primary social security benefits that he may
receive. If Officer Healy was eligible to receive Tier II accidental

disability benefits, he would receive approximately $31,500 per year
without any reduction for social security benefits.

Another example of this inequity is illustrated by the potential acci-
dental disability benefits that would be paid to Police Officer Rosa
Rodriguez. Officer Rodriguez was injured when she and her partner
responded to an apartment fire in Coney Island that was set by a teenag-
er. She and her partner, Police Officer Dennis Guerra, were overcome by
smoke in the burning building. They were both rushed to the hospital in
critical condition Officer Guerra died four days later as a result of
his injuries. Officer Rodriguez was in a coma for six days and has been
released from the hospital with an uncertain future because the doctors
have said that she may never fully recover from her injuries. Officer
Rodriguez would be entitled to an accidental disability pension of
$22,000 per year, with a reduction in an amount equaling 50% of any
primary social security benefits that she may receive. If Officer Rodri-
guez was eligible to receive Tier II accidental disability benefits, she
would receive approximately $31,500 per year without any reduction for
social security benefits.

This bill would reverse the inequities inherent in Tier III illustrated
by Officer Healy and Officer Rodriguez

This bill would further recognize that the medical officers employed by
the New York City Fire Department frequently respond to fires, and thus,
should be afforded the same presumptions for medical impairments that
can lead to disability or death as firefighters. Dr.  Kerry Kelly and
Dr. David Prezant were medical officers with the New York City Fire
Department on September 11, 2001 when they responded to the need for
medical assistance at the World trade Center. This bill would afford
them World Trade Center presumption for qualifying conditions should
they become disabled or die from a qualifying condition. These medical
officers respond to help those who are injured when a fire breaks out
They are right there on the front lines, and thus, should be afforded
the same presumptions for medical impairments that are currently granted
to firefighters.

LEGISLATIVE HISTORY:

This is a new bill.

FISCAL IMPLICATIONS:

See the bill.

EFFECTIVE DATE:

This act shall take effect on the sixtieth day after it shall become a
law; provided, however, that amendments to sections 207-k, 207-kk and
207-q of the general municipal law made by sections nine, ten and twelve
of this act shall not affect the expiration of such sections, as
provided in section 480 of the retirement and social security law.

2015-S5596 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5596

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 15, 2015
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions

AN ACT to amend the retirement and social security law, the  administra-
  tive  code  of the city of New York, and the general municipal law, in
  relation to the disability benefits of members of the  New  York  city
  police and fire pension funds

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 1205 of the retirement and social security law,  as
added  by  section  1  of  part A of chapter 504 of the laws of 2009, is
amended to read as follows:
  S 1205. Recalculation of benefits. Notwithstanding any other provision
of law, any member who has joined the retirement system pursuant to  the
provisions  of  article fourteen of this chapter on or after July first,
two thousand nine may elect to  have  his  or  her  retirement  benefits
calculated pursuant to this article by filing [within one hundred twenty
days  of  the  effective date of this section] a request for such calcu-
lation with the retirement system in the form and manner  prescribed  by
the state comptroller NO LATER THAN JUNE 30, 2016.
  S 2. Subdivisions a and b of section 13-357 of the administrative code
of  the city of New York, subdivision a as amended by chapter 438 of the
laws of 1986, are amended to read as follows:
  a. Once each year the board may, and upon his or her  own  application
shall,  require  any  disability pensioner, under the minimum period for
service retirement elected by him or her, and who at the time of his  or
her  retirement  for disability was an improved benefits plan member, OR
ANY DISABILITY PENSIONER RETIRED PURSUANT TO SECTION FIVE HUNDRED SIX OR
FIVE HUNDRED SEVEN OF THE RETIREMENT AND SOCIAL SECURITY LAW, AND WHO IS
UNDER EARLY RETIREMENT AGE AS DEFINED IN SECTION FIVE HUNDRED ONE OF THE
RETIREMENT AND SOCIAL SECURITY LAW FOR POLICE/FIRE  MEMBERS  to  undergo
medical  examination.  Such  examination  shall  be made at the place of

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11055-01-5

S. 5596                             2

residence of such beneficiary or other place mutually agreed upon.  Upon
the  completion  of  such examination the medical board shall report and
certify to the board whether such beneficiary is or is  not  totally  or
partially  incapacitated physically or mentally and whether he or she is
or is not engaged in or able to engage in a gainful occupation.  If  the
board  concur  in a report by the medical board that such beneficiary is
able to engage in a gainful occupation, it shall  certify  the  name  of
such  beneficiary  to the appropriate civil service commission, state or
municipal, and such  commission  shall  place  his  or  her  name  as  a
preferred  eligible  on  such  appropriate  lists  of  candidates as are
prepared for appointment to positions for which he or she is  stated  to
be  qualified.  Should  such beneficiary be engaged in a gainful occupa-
tion, or should he or she be offered city-service as  a  result  of  the
placing  of  his  or  her name on a civil service list, such board shall
reduce the amount of his or  her  disability  pension  and  his  or  her
pension-providing-for-increased-take-home-pay,  if  any,  to  an  amount
which, when added to that then earned by him or her, or earnable by  him
or  her  in  city-service  so  offered  him or her, shall not exceed the
current maximum salary for the title next higher than that held  by  him
or  her  when he or she was retired. Should the earning capacity of such
beneficiary be further altered, such board may further alter his or  her
pension and his or her pension-providing-for-increased-take-home-pay, if
any,  to an amount which shall not exceed the rate of pension and his or
her pension-providing-for-increased-take-home-pay, if any, upon which he
or she was originally retired but which,  subject  to  such  limitation,
shall  equal,  when  added  to  that earnable by him or her, the current
maximum salary for the title next higher than that held by  him  or  her
when  he  or  she  was  retired. The provisions of this section shall be
executed, any provision of the charter  or  the  code  to  the  contrary
notwithstanding.
  b.  Should  any  disability  pensioner,  under  the minimum period for
service retirement elected by him or her, and who was an improved  bene-
fits plan member at the time of his or her retirement for disability, OR
ANY DISABILITY PENSIONER RETIRED PURSUANT TO SECTION FIVE HUNDRED SIX OR
FIVE  HUNDRED SEVEN OF THE RETIREMENT AND SOCIAL SECURITY LAW AND WHO IS
UNDER EARLY RETIREMENT AGE AS DEFINED IN SECTION FIVE HUNDRED ONE OF THE
RETIREMENT AND SOCIAL SECURITY LAW FOR POLICE/FIRE  MEMBERS,  refuse  to
submit  to  one medical examination in any year by a physician or physi-
cians designated by the medical board, his or her pension and his or her
pension-providing-for-increased-take-home-pay, if any, may be discontin-
ued until his or her withdrawal of such  refusal.  Should  such  refusal
continue  for one year, all his or her rights in and to such pension and
his or her pension-providing-for-increased-take-home-pay, if any, may be
revoked by such board.
  S 3. Section 506 of the retirement and social security law is  amended
by adding two new subdivisions e and f to read as follows:
  E.  1.  NOTWITHSTANDING  ANY OTHER PROVISION OF THIS CHAPTER OR OF ANY
GENERAL, SPECIAL OR LOCAL LAW, CHARTER, ADMINISTRATIVE CODE OR  RULE  OR
REGULATION  TO  THE CONTRARY, SUBDIVISIONS A, B, C AND D OF THIS SECTION
SHALL NOT APPLY TO MEMBERS OF THE NEW YORK CITY POLICE PENSION FUND  WHO
ARE  SUBJECT  TO  THIS  ARTICLE.  A  MEMBER  OF THE NEW YORK CITY POLICE
PENSION FUND WHO IS SUBJECT TO THIS ARTICLE SHALL  INSTEAD  BE  ELIGIBLE
FOR  ORDINARY  DISABILITY  RETIREMENT  PURSUANT  TO  SECTIONS 13-251 AND
13-254 OF THE ADMINISTRATIVE CODE OF THE CITY OF  NEW  YORK,  AND  SHALL
RECEIVE A RETIREMENT ALLOWANCE WHICH SHALL CONSIST OF:

S. 5596                             3

  (I)  AN ANNUITY, WHICH SHALL BE THE ACTUARIAL EQUIVALENT OF HIS OR HER
ACCUMULATED CONTRIBUTIONS, IF ANY, AT THE TIME OF HIS OR HER RETIREMENT;
  (II)   A   PENSION   WHICH   IS   THE   ACTUARIAL  EQUIVALENT  OF  THE
RESERVE-FOR-INCREASED-TAKE-HOME-PAY TO WHICH HE OR SHE MAY THEN BE ENTI-
TLED, IF ANY; AND
  (III) A PENSION, WHICH, TOGETHER WITH  HIS  OR  HER  ANNUITY  AND  THE
PENSION-PROVIDING-FOR-INCREASED-TAKE-HOME-PAY, IF ANY, SHALL BE EQUAL TO
A RETIREMENT ALLOWANCE EQUAL TO ONE-FORTIETH OF HIS OR HER FINAL AVERAGE
SALARY MULTIPLIED BY THE NUMBER OF YEARS OF CITY-SERVICE CREDITED TO HIM
OR HER, BUT NOT LESS THAN (1) ONE-HALF OF HIS OR HER FINAL AVERAGE SALA-
RY, IF THE YEARS OF CITY-SERVICE CREDITED TO HIM OR HER ARE TEN OR MORE,
OR  (2)  ONE-THIRD  OF  HIS OR HER FINAL AVERAGE SALARY, IF THE YEARS OF
CITY-SERVICE CREDITED TO HIM OR HER ARE LESS THAN TEN.
  2. THE PROVISIONS OF SUBDIVISIONS G, H AND I OF SECTION  FIVE  HUNDRED
SEVEN  OF  THIS  ARTICLE  SHALL  APPLY TO DISABILITY BENEFITS UNDER THIS
SUBDIVISION.
  F. 1. NOTWITHSTANDING ANY OTHER PROVISION OF THIS CHAPTER  OR  OF  ANY
GENERAL,  SPECIAL  OR LOCAL LAW, CHARTER, ADMINISTRATIVE CODE OR RULE OR
REGULATION TO THE CONTRARY, SUBDIVISIONS A, B, C AND D OF  THIS  SECTION
SHALL  NOT APPLY TO MEMBERS OF THE NEW YORK FIRE DEPARTMENT PENSION FUND
WHO ARE SUBJECT TO THIS ARTICLE. A MEMBER OF THE NEW YORK  FIRE  DEPART-
MENT PENSION FUND WHO IS SUBJECT TO THIS ARTICLE SHALL INSTEAD BE ELIGI-
BLE  FOR  ORDINARY DISABILITY RETIREMENT PURSUANT TO SECTIONS 13-352 AND
13-357 OF THE ADMINISTRATIVE CODE OF THE CITY OF  NEW  YORK,  AND  SHALL
RECEIVE A RETIREMENT ALLOWANCE WHICH SHALL CONSIST OF:
  (I)  AN ANNUITY, WHICH SHALL BE THE ACTUARIAL EQUIVALENT OF HIS OR HER
ACCUMULATED CONTRIBUTIONS, IF ANY, AT THE TIME OF HIS OR HER RETIREMENT;
AND
  (II)  A  PENSION  WHICH   IS   THE   ACTUARIAL   EQUIVALENT   OF   THE
RESERVE-FOR-INCREASED-TAKE-HOME-PAY TO WHICH HE OR SHE MAY THEN BE ENTI-
TLED, IF ANY, AND
  (III)  A  PENSION,  WHICH  TOGETHER  WITH  HIS  OR HER ANNUITY AND THE
PENSION-PROVIDING-FOR-INCREASED-TAKE-HOME-PAY, IF ANY, SHALL BE EQUAL TO
A RETIREMENT ALLOWANCE EQUAL TO ONE-FORTIETH OF HIS OR HER FINAL AVERAGE
SALARY MULTIPLIED BY THE NUMBER OF YEARS OF CITY-SERVICE CREDITED TO HIM
OR HER, BUT NOT LESS THAN (1) ONE-HALF OF HIS OR HER FINAL AVERAGE SALA-
RY, IF THE YEARS OF CITY-SERVICE CREDITED TO HIM OR HER ARE TEN OR MORE,
OR (2) ONE-THIRD OF HIS OR HER FINAL AVERAGE SALARY,  IF  THE  YEARS  OF
CITY-SERVICE CREDITED TO HIM OR HER ARE LESS THAN TEN.
  2.  THE  PROVISIONS OF SUBDIVISIONS G, H AND I OF SECTION FIVE HUNDRED
SEVEN OF THIS ARTICLE SHALL APPLY  TO  DISABILITY  BENEFITS  UNDER  THIS
SUBDIVISION.
  S  4. Section 507 of the retirement and social security law is amended
by adding two new subdivisions j and k to read as follows:
  J. NOTWITHSTANDING ANY OTHER PROVISION OF THIS CHAPTER OR ANY GENERAL,
SPECIAL OR LOCAL LAW, CHARTER, ADMINISTRATIVE CODE OR RULE OR REGULATION
TO THE CONTRARY, SUBDIVISIONS A, B, C, D, E, AND F OF THIS SECTION SHALL
NOT APPLY TO MEMBERS OF THE NEW YORK FIRE DEPARTMENT  PENSION  FUND  WHO
ARE  SUBJECT  TO  THIS ARTICLE. A MEMBER OF THE NEW YORK FIRE DEPARTMENT
PENSION FUND WHO IS SUBJECT TO THIS ARTICLE SHALL  INSTEAD  BE  ELIGIBLE
FOR  ACCIDENTAL  DISABILITY  RETIREMENT  PURSUANT  TO  SECTIONS  13-353,
13-354, AND 13-357 OF THE ADMINISTRATIVE CODE OF THE CITY  OF  NEW  YORK
AND  ANY  ACCIDENTAL DISABILITY RETIREMENT BENEFITS FOUND IN THE GENERAL
MUNICIPAL LAW AND SHALL  RECEIVE  A  RETIREMENT  ALLOWANCE  WHICH  SHALL
CONSIST OF:

S. 5596                             4

  1.  AN  ANNUITY, WHICH SHALL BE THE ACTUARIAL EQUIVALENT OF HIS OR HER
ACCUMULATED CONTRIBUTIONS, IF ANY, AT THE TIME OF HIS OR HER RETIREMENT;
AND
  2.  A PENSION WHICH IS THE ACTUARIAL EQUIVALENT OF THE RESERVE-FOR-IN-
CREASED-TAKE-HOME-PAY TO WHICH HE OR SHE MAY THEN BE ENTITLED,  IF  ANY;
AND
  3. A PENSION, OF THREE-QUARTERS OF HIS OR HER FINAL AVERAGE SALARY, IN
ADDITION  TO  THE ANNUITY AND PENSION PROVIDED FOR BY PARAGRAPHS ONE AND
TWO OF THIS SUBDIVISION.
  K. NOTWITHSTANDING ANY OTHER PROVISION  OF  THIS  CHAPTER  OR  OF  ANY
GENERAL,  SPECIAL  OR LOCAL LAW, CHARTER, ADMINISTRATIVE CODE OR RULE OR
REGULATION TO THE CONTRARY, SUBDIVISIONS A, B, C, D, E  AND  F  OF  THIS
SECTION  SHALL  NOT APPLY TO MEMBERS OF THE NEW YORK CITY POLICE PENSION
FUND WHO ARE SUBJECT TO THIS ARTICLE. A MEMBER  OF  THE  NEW  YORK  CITY
POLICE  PENSION  FUND  WHO  IS  SUBJECT TO THIS ARTICLE SHALL INSTEAD BE
ELIGIBLE FOR  ACCIDENTAL  DISABILITY  RETIREMENT  PURSUANT  TO  SECTIONS
13-215,  13-252 AND 13-254 OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW
YORK, AND SHALL RECEIVE A RETIREMENT ALLOWANCE WHICH SHALL CONSIST OF:
  1. AN ANNUITY, WHICH SHALL BE THE ACTUARIAL EQUIVALENT OF HIS  OR  HER
ACCUMULATED  CONTRIBUTIONS,  IF  ANY, AT THE TIME OF HIS OR HER  RETIRE-
MENT;
  2. A PENSION WHICH IS THE ACTUARIAL EQUIVALENT OF THE  RESERVE-FOR-IN-
CREASED-TAKE-HOME-PAY  TO  WHICH HE OR SHE MAY THEN BE ENTITLED, IF ANY;
AND
  3. A PENSION, OF THREE-QUARTERS OF HIS OR HER FINAL AVERAGE SALARY, IN
ADDITION TO THE ANNUITY AND PENSION PROVIDED FOR BY PARAGRAPHS  ONE  AND
TWO OF THIS SUBDIVISION.
  S  5. Section 510 of the retirement and social security law is amended
by adding a new subdivision i to read as follows:
  I. NOTWITHSTANDING ANY OTHER PROVISIONS OF THIS ARTICLE OR THE  ADMIN-
ISTRATIVE  CODE  OF THE CITY OF NEW YORK, THE ANNUAL ESCALATION PROVIDED
IN THIS SECTION SHALL NOT APPLY TO THE ORDINARY OR ACCIDENTAL DISABILITY
RETIREMENT BENEFIT OF MEMBERS OF THE NEW YORK CITY POLICE  PENSION  FUND
OR  MEMBERS  OF  THE  NEW  YORK  FIRE DEPARTMENT PENSION FUND WHO RETIRE
PURSUANT TO SECTION FIVE HUNDRED SIX OR FIVE HUNDRED SEVEN OF THIS ARTI-
CLE. THE ORDINARY OR ACCIDENTAL DISABILITY RETIREMENT BENEFIT OF MEMBERS
OF THE NEW YORK FIRE DEPARTMENT PENSION  FUND  WHO  RETIRE  PURSUANT  TO
SECTION  FIVE HUNDRED SIX OR FIVE HUNDRED SEVEN OF THIS ARTICLE SHALL BE
ADJUSTED FOR COST-OF-LIVING PURSUANT TO THE PROVISIONS OF SECTION 13-696
OF THE ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
  S 6. Subdivision f of section 511 of the retirement and social securi-
ty law, as amended by chapter 18 of the laws of 2012, is amended to read
as follows:
  f. This section shall not apply to general members  in  the  uniformed
correction  force  of  the  New York city department of correction or to
uniformed personnel  in  institutions  under  the  jurisdiction  of  the
department  of corrections and community supervision and security hospi-
tal treatment assistants, as those terms are defined in subdivision i of
section  eighty-nine  of  this  chapter,  provided,  however,  that  the
provisions  of  this  section  shall  apply to a New York city uniformed
correction/sanitation revised plan member, AND THIS SECTION  SHALL  ALSO
NOT APPLY TO MEMBERS OF THE NEW YORK CITY POLICE PENSION FUND OR THE NEW
YORK  FIRE  DEPARTMENT  PENSION FUND WHO ARE SUBJECT TO THIS ARTICLE WHO
RETIRE ON ORDINARY  OR  ACCIDENTAL  DISABILITY  RETIREMENT  PURSUANT  TO
SECTION FIVE HUNDRED SIX OR FIVE HUNDRED SEVEN OF THIS ARTICLE.

S. 5596                             5

  S  7. Section 512 of the retirement and social security law is amended
by adding two new subdivisions e and f to read as follows:
  E. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION A OF THIS SECTION, OR
ANY  OTHER GENERAL, SPECIAL OR LOCAL LAW, WITH RESPECT TO MEMBERS OF THE
NEW YORK FIRE DEPARTMENT PENSION FUND WHO RETIRE  PURSUANT  TO  SECTIONS
FIVE HUNDRED SIX AND FIVE HUNDRED SEVEN OF THIS ARTICLE A MEMBER'S FINAL
AVERAGE  SALARY  SHALL  MEAN THE SALARY EARNED BY SUCH MEMBER DURING THE
ONE-YEAR PERIOD IMMEDIATELY PRIOR TO RETIREMENT, EXCLUSIVE OF  ANY  FORM
OF TERMINATION PAY (WHICH SHALL INCLUDE ANY COMPENSATION IN ANTICIPATION
OF  RETIREMENT), OR ANY LUMP SUM PAYMENT FOR DEFERRED COMPENSATION, SICK
LEAVE, OR ACCUMULATED VACATION CREDIT, OR ANY OTHER PAYMENT FOR TIME NOT
WORKED (OTHER THAN COMPENSATION RECEIVED WHILE ON SICK LEAVE OR  AUTHOR-
IZED LEAVE OF ABSENCE); PROVIDED, HOWEVER, IF THE SALARY OR WAGES EARNED
DURING  THE ONE YEAR PERIOD IMMEDIATELY PRIOR TO RETIREMENT EXCEEDS THAT
OF THE PREVIOUS ONE-YEAR PERIOD BY  MORE  THAN  TWENTY  PER  CENTUM  THE
AMOUNT  IN EXCESS OF TWENTY PER CENTUM SHALL BE EXCLUDED FROM THE COMPU-
TATION OF FINAL AVERAGE SALARY. IN DETERMINING FINAL AVERAGE SALARY, ANY
MONTH OR MONTHS (NOT IN  EXCESS  OF  THREE)  WHICH  WOULD  OTHERWISE  BE
INCLUDED  IN  COMPUTING FINAL AVERAGE SALARY BUT DURING WHICH THE MEMBER
WAS ON AUTHORIZED LEAVE OF ABSENCE WITHOUT PAY SHALL  BE  EXCLUDED  FROM
THE COMPUTATION OF FINAL AVERAGE SALARY AND THE MONTH OR AN EQUAL NUMBER
OF MONTHS IMMEDIATELY PRECEDING SUCH PERIOD SHALL BE SUBSTITUTED IN LIEU
THEREOF.
  F. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION A OF THIS SECTION, OR
ANY  OTHER GENERAL, SPECIAL OR LOCAL LAW, WITH RESPECT TO MEMBERS OF THE
NEW YORK CITY POLICE PENSION FUND WHO RETIRE PURSUANT TO  SECTIONS  FIVE
HUNDRED  SIX  AND  FIVE  HUNDRED  SEVEN OF THIS ARTICLE A MEMBER'S FINAL
AVERAGE SALARY SHALL MEAN THE SALARY EARNED BY SUCH  MEMBER  DURING  THE
ONE-YEAR  PERIOD  IMMEDIATELY PRIOR TO RETIREMENT, EXCLUSIVE OF ANY FORM
OF TERMINATION PAY (WHICH SHALL INCLUDE ANY COMPENSATION IN ANTICIPATION
OF RETIREMENT) OR ANY LUMP SUM PAYMENT FOR DEFERRED  COMPENSATION,  SICK
LEAVE, OR ACCUMULATED VACATION CREDIT, OR ANY OTHER PAYMENT FOR TIME NOT
WORKED  (OTHER THAN COMPENSATION RECEIVED WHILE ON SICK LEAVE OR AUTHOR-
IZED LEAVE OF ABSENCE); PROVIDED, HOWEVER, IF THE SALARY OR WAGES EARNED
DURING THE ONE-YEAR PERIOD IMMEDIATELY PRIOR TO RETIREMENT EXCEEDS  THAT
OF  THE  PREVIOUS  ONE-YEAR  PERIOD  BY MORE THAN TWENTY PER CENTUM, THE
AMOUNT IN EXCESS OF TWENTY PER CENTUM SHALL BE EXCLUDED FROM THE  COMPU-
TATION OF FINAL AVERAGE SALARY. IN DETERMINING FINAL AVERAGE SALARY, ANY
MONTH  OR  MONTHS  (NOT  IN  EXCESS  OF  THREE) WHICH WOULD OTHERWISE BE
INCLUDED IN COMPUTING FINAL AVERAGE SALARY BUT DURING WHICH  THE  MEMBER
WAS  ON  AUTHORIZED  LEAVE OF ABSENCE WITHOUT PAY SHALL BE EXCLUDED FROM
THE COMPUTATION OF FINAL AVERAGE SALARY AND THE MONTH OR AN EQUAL NUMBER
OF MONTHS IMMEDIATELY PRECEDING SUCH PERIOD SHALL BE SUBSTITUTED IN LIEU
THEREOF.
  S 8. Paragraph (b) of subdivision 1 of section 13-353.1 of the  admin-
istrative code of the city of New York is relettered paragraph (c) and a
new paragraph (b) is added to read as follows:
  (B)  IN  ORDER TO BE ELIGIBLE FOR THE PRESUMPTION PROVIDED UNDER PARA-
GRAPH (A) OF THIS SUBDIVISION,  A  MEMBER  MUST  HAVE  (I)  SUCCESSFULLY
PASSED A PHYSICAL EXAMINATION FOR ENTRY INTO PUBLIC SERVICE WHICH FAILED
TO DISCLOSE EVIDENCE OF THE QUALIFYING CONDITION OR IMPAIRMENT OF HEALTH
THAT  FORMED THE BASIS FOR THE DISABILITY, OR (II) AUTHORIZED RELEASE OF
ALL RELEVANT MEDICAL RECORDS, IF THE MEMBER DID NOT UNDERGO  A  PHYSICAL
EXAMINATION  FOR  ENTRY INTO PUBLIC SERVICE, AND THERE IS NO EVIDENCE OF
THE QUALIFYING CONDITION OR IMPAIRMENT OF HEALTH THAT FORMED  THE  BASIS
FOR THE DISABILITY IN SUCH MEDICAL RECORDS PRIOR TO SEPTEMBER 11, 2001.

S. 5596                             6

  S 9. Section 207-k of the general municipal law, as amended by chapter
1046 of the laws of 1973, subdivision a as amended by chapter 654 of the
laws of 2006, is amended to read as follows:
  S  207-k.  Disabilities of policemen and firemen in certain cities. a.
Notwithstanding the provisions of any general, special or local  law  or
administrative  code  to  the  contrary,  but except for the purposes of
sections two hundred seven-a and two hundred seven-c  of  this  article,
the  workers'  compensation  law  and  the  labor  law, any condition of
impairment of health caused by diseases of the heart, or  by  a  stroke,
resulting  in  total  or partial disability or death to a paid member of
the uniformed force of a paid  police  department  or  fire  department,
where  such  paid  policemen or firemen are drawn from competitive civil
service lists, who successfully passed a physical examination  on  entry
into the service of such respective department, which examination failed
to  reveal any evidence of such condition, shall be presumptive evidence
that it was incurred in the performance and discharge  of  duty,  unless
the contrary be proved by competent evidence.
  b.  The  provisions  of  this  section  shall remain in full force and
effect to and including the thirtieth  day  of  June,  nineteen  hundred
seventy-four.
  C.  IN  ADDITION,  ANY  CONDITION  OF  IMPAIRMENT  OF HEALTH CAUSED BY
DISEASES OF THE HEART, OR BY A STROKE, RESULTING  IN  TOTAL  OR  PARTIAL
DISABILITY  OR  DEATH TO A MEDICAL OFFICER OF THE FIRE DEPARTMENT OF THE
CITY OF NEW YORK, SHALL BE PRESUMPTIVE EVIDENCE THAT IT WAS INCURRED  IN
THE  PERFORMANCE AND DISCHARGE OF DUTY, PROVIDED THAT SUCH MEDICAL OFFI-
CER AUTHORIZED RELEASE OF ALL RELEVANT MEDICAL RECORDS, AND THERE IS  NO
EVIDENCE OF THE QUALIFYING CONDITION OR IMPAIRMENT OF HEALTH THAT FORMED
THE BASIS FOR THE DISABILITY OR DEATH IN SUCH MEDICAL RECORDS UNLESS THE
CONTRARY BE PROVED BY COMPETENT EVIDENCE.
  S 10. Section 207-kk of the general municipal law, as amended by chap-
ter 531 of the laws of 2003, is amended to read as follows:
  S  207-kk.  Disabilities  of  firefighters in certain cities caused by
cancer. A. Notwithstanding any other provisions of this chapter  to  the
contrary, any condition of impairment of health caused by (i) any condi-
tion  of  cancer  affecting  the  lymphatic,  digestive,  hematological,
urinary, neurological, breast, reproductive, or prostate systems or (ii)
melanoma resulting in total or partial disability or  death  to  a  paid
member  of  a fire department in a city with a population of one million
or more, who successfully passed a physical examination  on  entry  into
the  service  of such department, which examination failed to reveal any
evidence of such condition, shall be presumptive evidence  that  it  was
incurred in the performance and discharge of duty unless the contrary be
proved  by  competent  evidence.  The  provisions  of this section shall
remain in full force and effect to and including the  thirtieth  day  of
June, two thousand five.
  B.  IN  ADDITION,  ANY CONDITION OF IMPAIRMENT OF HEALTH CAUSED BY (I)
ANY CONDITION OF CANCER AFFECTING THE LYMPHATIC, DIGESTIVE,  HEMATOLOGI-
CAL, URINARY, NEUROLOGICAL, BREAST, REPRODUCTIVE, OR PROSTATE SYSTEMS OR
(II)  MELANOMA  RESULTING  IN  TOTAL OR PARTIAL DISABILITY OR DEATH TO A
MEDICAL OFFICER OF THE FIRE DEPARTMENT OF THE CITY OF NEW YORK, SHALL BE
PRESUMPTIVE EVIDENCE  THAT  IT  WAS  INCURRED  IN  THE  PERFORMANCE  AND
DISCHARGE OF DUTY, PROVIDED THAT SUCH MEDICAL OFFICER AUTHORIZED RELEASE
OF  ALL RELEVANT MEDICAL RECORDS, AND THERE IS NO EVIDENCE OF THE QUALI-
FYING CONDITION OR IMPAIRMENT OF HEALTH THAT FORMED THE  BASIS  FOR  THE
DISABILITY  OR  DEATH  IN  SUCH  MEDICAL  RECORDS UNLESS THE CONTRARY BE
PROVED BY COMPETENT EVIDENCE.

S. 5596                             7

  S 11. Section 207-p of the general municipal law, as added by  chapter
641 of the laws of 1999, is amended to read as follows:
  S  207-p.  Performance  of duty disability retirement; police and fire
department. A. Notwithstanding any other provision of  this  chapter  or
administrative  code  to the contrary, any paid member of a fire depart-
ment and/or a paid police department, in a city with a population of one
million or more who successfully  passed  a  physical  examination  upon
entry  into  the service of such department who contracts HIV (where the
employee may have been exposed to a bodily fluid of a person  under  his
or  her  care or treatment, or while the employee examined, transported,
rescued or otherwise had contact with such person, in the performance of
his or her duties), tuberculosis or hepatitis, will be presumed to  have
contracted  such  disease  as  a natural or proximate result of an acci-
dental injury received in the performance and discharge of  his  or  her
duties  and not as a result of his or her willful negligence, unless the
contrary be provided by competent evidence.
  B. IN ADDITION, ANY MEDICAL OFFICER OF THE FIRE DEPARTMENT OF THE CITY
OF NEW YORK WHO CONTRACTS  HIV  (WHERE  THE  MEDICAL  OFFICER  HAS  BEEN
EXPOSED  TO  A  BODILY FLUID OF A PERSON UNDER HIS OR HER CARE OR TREAT-
MENT, OR WHILE THE MEDICAL OFFICER  EXAMINED,  TRANSPORTED,  RESCUED  OR
OTHERWISE HAD CONTACT WITH SUCH PERSON, IN THE PERFORMANCE OF HIS OR HER
DUTIES),  TUBERCULOSIS OR HEPATITIS, WILL BE PRESUMED TO HAVE CONTRACTED
SUCH DISEASE AS A NATURAL OR PROXIMATE RESULT OF  AN  ACCIDENTAL  INJURY
RECEIVED  IN THE PERFORMANCE OF HIS OR HER DUTIES AND NOT AS A RESULT OF
HIS OR HER  WILLFUL  NEGLIGENCE,  PROVIDED  THAT  SUCH  MEDICAL  OFFICER
AUTHORIZED  RELEASE  OF  ALL  RELEVANT  MEDICAL RECORDS, AND THERE IS NO
EVIDENCE OF THE QUALIFYING CONDITION OR IMPAIRMENT OF HEALTH THAT FORMED
THE BASIS FOR THE DISABILITY IN SUCH MEDICAL RECORDS, UNLESS THE CONTRA-
RY BE PROVED BY COMPETENT EVIDENCE.
  S 12. Section 207-q of the general municipal law, as amended by  chap-
ter 103 of the laws of 2006, is amended to read as follows:
  S  207-q.  Firefighters; presumption in certain diseases.  A. Notwith-
standing any provision of this chapter or of  any  general,  special  or
local  law  to  the  contrary, and for the purposes of this chapter, any
condition of impairment of  health  caused  by  diseases  of  the  lung,
resulting  in total or partial disability or death to a uniformed member
of a paid fire department, where such member successfully passed a phys-
ical examination on entry into such service or subsequent thereto, which
examination failed to reveal any evidence of such conditions,  shall  be
presumptive evidence that such disability or death (1) was caused by the
natural  and  proximate  result of an accident, not caused by such fire-
fighter's own negligence and (2) was incurred  in  the  performance  and
discharge  of duty, unless the contrary be proven by competent evidence.
The provisions of this section shall remain in full force and effect  to
and including the thirtieth day of June, two thousand eight.
  B.  IN  ADDITION,  ANY  CONDITION  OF  IMPAIRMENT  OF HEALTH CAUSED BY
DISEASES OF THE LUNG, RESULTING IN TOTAL OR PARTIAL DISABILITY OR  DEATH
TO  A  MEDICAL  OFFICER  OF THE FIRE DEPARTMENT OF THE CITY OF NEW YORK,
SHALL BE PRESUMPTIVE EVIDENCE THAT SUCH  DISABILITY  OR  DEATH  (1)  WAS
CAUSED BY THE NATURAL AND PROXIMATE RESULT OF AN ACCIDENT, NOT CAUSED BY
SUCH  MEDICAL  OFFICER'S  OWN  NEGLIGENCE  AND  (2)  WAS INCURRED IN THE
PERFORMANCE AND DISCHARGE OF DUTY, PROVIDED THAT  SUCH  MEDICAL  OFFICER
AUTHORIZED  RELEASE  OF  ALL  RELEVANT  MEDICAL RECORDS, AND THERE IS NO
EVIDENCE OF THE QUALIFYING CONDITION OR IMPAIRMENT OF HEALTH THAT FORMED
THE BASIS FOR THE DISABILITY IN SUCH MEDICAL RECORDS, UNLESS THE CONTRA-
RY BE PROVED BY COMPETENT EVIDENCE.

S. 5596                             8

  S 13. This act shall take effect on the sixtieth day  after  it  shall
have  become  a  law; provided, however, that the amendments to sections
207-k, 207-kk and 207-q of the general municipal law  made  by  sections
nine, ten and twelve of this act shall not affect the expiration of such
sections,  as provided in section 480 of the retirement and social secu-
rity law.
  FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
  BACKGROUND - DESIGN OF PROPOSED LEGISLATION
  * In general, the OA believes that proposed legislation should:
  * Be technically accurate,
  * Be clear in its intent,
  * Be administrable, and
  * Meet desired policy objectives.
  While the OA cannot provide any legal analysis,  the  OA  has  done  a
review of the proposed legislation and has some concerns. These concerns
that follow represent the best understanding of the Actuary and staff of
the  OA and should not be considered legal interpretations. All of these
concerns and suggestions should be reviewed by Counsel.
  For purposes of this letter, all members of the New York  City  Police
Pension  Fund  ("POLICE")  subject  to  Article 14 of the Retirement and
Social Security Law ("RSSL") will be referred to  as  "Tier  III  POLICE
Members." Of those Tier III POLICE Members who have a date of membership
prior  to  April 1, 2012, they will be referred to as "Original Tier III
POLICE Members." Of those Tier III POLICE Members who  have  a  date  of
membership  on  or  after  April  1,  2012,  they will be referred to as
"Revised Tier III POLICE Members."
  CONCERNS WITH PROPOSED LEGISLATION WITH RESPECT TO ORDINARY DISABILITY
RETIREMENT ("ODR") AND ACCIDENTAL DISABILITY RETIREMENT ("ADR")
  * Benefits Compared to Tier I and Tier II
  The proposed legislation, if enacted, would revise  the  ODR  and  ADR
benefit formulas for Tier III POLICE Members.
  It  appears that the proposed Tier III ODR benefit formula is intended
to be the same as the ODR benefit available to Tier I and Tier II POLICE
Members (i.e., 1/40 of Final Average Salary ("FAS")  multiplied  by  the
years  of service, but not less than (1) one-half of FAS if the years of
service are 10 or more or (2) one-third of FAS if the years  of  service
are  less  than  10)  where the FAS for Tier III POLICE Members would be
based on a one-year FAS, the same as for Tier II and similar to the rate
of pay for Tier I.
  Similarly, it also appears that the proposed ADR benefit  formula  for
Tier  III  POLICE  Members is intended to be the same as the ADR benefit
available to Tier I and Tier II POLICE Members (i.e., 75% of Final Aver-
age Salary ("FAS")), where the FAS for Tier III POLICE Members would  be
based on a one-year FAS, the same as for Tier II and similar to the rate
of pay for Tier I.
  Note:  Tier I and Tier II POLICE Members are also entitled to an addi-
tional 1/60 of total earnings after their 20th  anniversary.  Given  the
proposed  statutory  references,  it is the understanding of the Actuary
that the Tier III POLICE Members impacted by  the  proposed  legislation
would  not receive this additional 1/60 of total earnings after 20 years
of service.
  POLICE Tier I and Tier II ODR and ADR benefits are subject to Cost-of-
Living Adjustments ("COLA") under Chapter 125 of the Laws of 2000 on the
first $18,000 of benefit after five years of Disability Retirement.
  Given the proposed statutory references, it is  the  understanding  of
the  Actuary  that the proposed ODR and ADR benefits for Tier III POLICE

S. 5596                             9

Members would be entitled to the COLA described in the  preceding  para-
graph,  but  would  NOT  be  subject  to  an  annual Tier III Escalation
increase on the full benefit immediately from  the  date  of  Disability
Retirement.
  * Reference to ITHP
  The  proposed  legislation,  in defining the revised ODR and ADR bene-
fits, uses the term Increased-Take-Home-Pay ("ITHP").
  ITHP is a special benefit provided to Tier I and Tier II  members  and
is not defined for Tier III members.
  Given  the  history  that  no Tier III Members have ever received ITHP
benefits, the Actuary has assumed that if the proposed legislation  were
enacted, Tier III POLICE Members would not be entitled to ITHP.
  * Annuitization of Member Contributions
  The  proposed  legislation  would  include  in the ODR and ADR benefit
formulas for Tier III POLICE Members, a benefit in the form of an annui-
ty equal to the actuarial equivalent of the accumulated Tier III  member
contributions at retirement.
  Annuitized  benefits based directly on member contributions are avail-
able to Tier I and Tier II POLICE Members. However,  it  is  the  under-
standing  of the Actuary that no current Tier III Member has any benefit
which is defined as an  annuitization  of  accumulated  member  contrib-
utions.
  *  General  Plan  Design: From an administrative and design viewpoint,
the Actuary would suggest that consideration be given  to  incorporating
enhanced  ODR  and ADR benefit eligibilities and benefit formulas within
RSSL Article 14, using only Article  14  terminology  and  structure  to
achieve  the  desired  ODR  and  ADR  benefit  eligibilities and benefit
levels.
  * Presumptive Conditions for ADR
  It is the understanding of the Actuary that the proposed  legislation,
if  enacted,  would  provide  Tier  III POLICE Members the ability to be
eligible for and to utilize the presumptive conditions that qualify  for
ADR that are available to Tier I and Tier II POLICE Members.
  The reasoning behind this understanding is that in the proposed legis-
lation, eligibility conditions for Tier III POLICE members for ODR would
be  determined  pursuant  to  the Administrative Code of the City of New
York ("ACNY") Sections 13-216, 13-251 and 13-254 (i.e., those that apply
to Tier I and Tier II POLICE Members), notwithstanding anything  to  the
contrary.
  Similarly,  in  the  proposed  legislation, eligibility conditions for
Tier III POLICE Members for ADR would be  determined  pursuant  to  ACNY
Sections 13-216, 13-252 and 13-254 (i.e., those that apply to Tier I and
Tier II POLICE Members), notwithstanding anything to the contrary.
  It  is  the  understanding  of the Actuary that in the proposed legis-
lation, eligibility for ODR and  ADR  would  not  be  pursuant  to  RSSL
Section  507.e.  RSSL  Section 507.e provides that a member shall not be
eligible for ODR or ADR unless the member waives  the  benefits  of  any
statutory  presumptions.  Accordingly,  it  is  the understanding of the
Actuary that since under the proposed  legislation  RSSL  Section  507.e
would  no  longer  apply  to  Tier  III  POLICE Members, Tier III POLICE
Members would not be required to waive RSSL Section 507.e in order to be
eligible for ODR or ADR benefits. Consequently, the  statutory  presump-
tions would apply since that have not been waived.
  In  accordance with the above reasoning, since current Tier III POLICE
Members are required to waive the presumptions pursuant to RSSL  Section

S. 5596                            10

507.e,  it  is  the  understanding  of  the Actuary that Tier III POLICE
Members are currently not entitled to presumptive conditions for ADR.
  * Consistency Amongst Uniformed Groups
  This  proposed  legislation  would  cover  members  of  POLICE but not
members of the New York Fire Department Pension  Fund  ("FIRE")  or  any
other  uniformed  groups.  Given  the historical consistency in benefits
amongst certain uniformed groups, this proposed legislation would likely
lead to  demands  for  similar  legislation  for  at  least  some  other
uniformed groups.
  PROVISIONS  OF  PROPOSED  LEGISLATION: This proposed legislation would
amend Retirement and Social Security Law  ("RSSL")  Sections  506,  507,
510,  511  and 512 and amend Administrative Code of the City of New York
("ACNY") Section 13-254 to change, for members  of  the  New  York  City
Police  Pension  Fund  ("POLICE") subject to Article 14 of the RSSL, the
eligibility for and the calculation of  Ordinary  Disability  Retirement
("ODR") benefits and Accidental Disability Retirement ("ADR") benefits.
  For  purposes of this Fiscal Note, all POLICE members subject to Arti-
cle 14 of the RSSL will be referred to as "Tier III POLICE Members."  Of
those  Tier  III  POLICE  Members who have a date of membership prior to
April 1, 2012, they will be referred to as  "Original  Tier  III  POLICE
Members." Of those Tier III POLICE Members who have a date of membership
on or after April 1, 2012, they will be referred to as "Revised Tier III
POLICE Members."
  The  Effective  Date of the proposed legislation would be the 60th day
after the date of enactment.
  IMPACT ON ODR BENEFITS PAYABLE: The current eligibility provisions for
ODR benefits for Tier III POLICE Members are based on:
  * Completing five or more years of service, and
  * Becoming eligible for Primary Social Security Disability  retirement
benefits.
  Such ODR benefits are equal to the greater of:
  *  33  1/3%  of  Three-Year Final Average Salary ("FAS3") for Original
Tier III POLICE Members or Five-Year Final Average Salary  ("FAS5")  for
Revised Tier III POLICE Members, or
  *  2% of FAS3 (FAS5 For Revised Tier III POLICE Members) multiplied by
years of credited service (not in excess of 22 years),
  * Reduced by 50% of the Primary Social  Security  Disability  benefits
(determined under RSSL Section 511), and
  * Reduced by 100% of Workers' Compensation benefits (if any).
  It  is  the  understanding  of the Actuary that POLICE Members are not
covered by Workers' Compensation.
  Under the proposed legislation the eligibility  requirements  for  ODR
benefits for the Tier III POLICE Members would be revised to be the same
as  those provided in ACNY Sections 13-216, 13-251 and 13-254 (i.e., the
provisions applicable to Tier I and Tier II POLICE members).
  In particular, completing five or more years of service would  not  be
required in order to be eligible for ODR benefits. In other words, there
would  not  any  requirement  for  any  minimum  length of service to be
completed in order to be eligible for ODR benefits.
  Under the proposed legislation, if enacted, the ODR benefit  for  Tier
III POLICE Members would be an allowance consisting of:
  * An actuarial equivalent annuity of accumulated member contributions,
plus
  *  A  pension,  which together with the annuity, equal to 1/40 of One-
Year Final Average Salary  ("FAS1")  multiplied  by  years  of  credited
service, but not less than:

S. 5596                            11

  *  1/2 of FAS1, if years of credited service are greater than or equal
to 10 years, or
  * 1/3 of FAS1, if years of credited service are less than 10 year.
  Note:  The  proposed legislation also states that one component of the
ODR benefit would be the actuarial equivalent annuity of  an  Increased-
Take-Home-Pay ("ITHP") reserve. This theoretical benefit is not included
in  this Fiscal Note analysis since it is the understanding of the Actu-
ary that ITHP is not available to Tier III members generally and is  not
specifically defined in the proposed legislation.
  In  addition,  the proposed legislation would NOT apply the Escalation
available under RSSL Section 510 to ODR benefits  for  Tier  III  POLICE
Members. However, such ODR benefits would still be eligible for Cost-of-
Living Adjustments ("COLA") under Chapter 125 of the Laws of 2000.
  IMPACT  ON  ADR BENEFITS PAYABLE:   The current eligibility provisions
for ADR benefits for Tier III POLICE Members  are  based  on  satisfying
either:
  *  Being  eligible  for Social Security Disability retirement benefits
and having become disabled due to an accident sustained in the  line  of
duty, or
  *  Being  physically or mentally incapacitated as a result of an acci-
dent sustained in the line of duty  as  determined  by  the  appropriate
administrative authority assigned by POLICE.
  As a consequence of RSSL Section 507.e, a Tier III POLICE Member would
not  be  eligible  for  ADR unless the member waived the benefits of any
statutory presumptions (e.g., certain heart diseases).
  Such ADR benefits are calculated using a formula of 50% multiplied  by
FAS3  for  Original Tier III POLICE Members or FAS5 for Revised Tier III
POLICE Members less 50% of Primary Social  Security  disability  benefit
(determined  under  RSSL  Section 511) and less 100% of Worker's Compen-
sation benefits (if any).
  Note: It is the understanding of the Actuary that POLICE  Members  are
not covered by Worker's Compensation.
  Under  the  proposed  legislation the eligibility requirements for ADR
benefits for Tier III POLICE Members would be revised to be the same  as
those  provided  in  ACNY  Sections 13-216, 13-252 and 13-254 (i.e., the
provisions applicable to Tier I and Tier II POLICE Members).
  In addition, it is the understanding of the Actuary that the  proposed
legislation, if enacted, would provide Tier III POLICE Members the abil-
ity  to be eligible for and to utilize the statutory presumptions (e.g.,
certain heart diseases) that qualify certain Tier I and Tier  II  POLICE
Members for ADR.
  Under  the  proposed legislation, if enacted, the ADR benefit for Tier
III POLICE Members would be revised  to  equal  a  retirement  allowance
equal to the sum of:
  * An actuarial equivalent annuity of accumulated member contributions,
plus
  * 75% multiplied by FAS1.
  Note:  The  proposed legislation also states that one component of the
ADR benefit would be the actuarial equivalent annuity of the  Increased-
Take-Home-Pay ("ITHP") reserve. This theoretical benefit is not included
in  this Fiscal Note analysis since it is the understanding of the Actu-
ary that ITHP is not available to Tier III members generally and is  not
specifically defined in the proposed legislation.
  Also  note,  it  is the understanding of the Actuary that the Tier III
POLICE Members impacted by the proposed legislation  would  not  receive
any additional 1/60 of annual earnings after 20 years of service.

S. 5596                            12

  In  addition,  the proposed legislation would NOT apply the Escalation
available under RSSL Section 510 to ADR benefits  for  Tier  III  POLICE
Members. However, such ADR benefits would still be eligible for Cost-of-
Living Adjustments ("COLA") under Chapter 125 of the Laws of 2000.
  FINANCIAL  IMPACT  -  CHANGES  IN BENEFITS - ACTUARIAL PRESENT VALUES.
Based on the census data and the actuarial assumptions and methods noted
herein, if the Effective Date is on or before June 30, 2015,  then  this
would  change  the Actuarial Present Value ("APV") of benefits ("APVB"),
APV of member contributions, the Unfunded  Actuarial  Accrued  Liability
("UAAL")  and  APV  of future employer contributions as of June 30, 2013
for Tier III POLICE Members.
  FINANCIAL IMPACT  -  CHANGES  IN  PROJECTED  APV  OF  FUTURE  EMPLOYER
CONTRIBUTIONS AND PROJECTED EMPLOYER CONTRIBUTIONS: For purposes of this
Fiscal  Note,  it  is  assumed  that  the changes in APVB, APV of member
contributions, UAAL and APV of future employer  contributions  would  be
reflected for the first time in the June 30, 2013 actuarial valuation of
POLICE.
  Under  the  One-Year  Lag  Methodology  ("OYLM"),  the first year that
changes in benefits for Tier III POLICE Members  could  impact  employer
contributions to POLICE would be Fiscal Year 2015.
  In  accordance  with ACNY Section 13.638.2(k-2), new UAAL attributable
to benefit changes are to be amortized as determined by the Actuary  but
generally  over  the remaining working lifetime of those impacted by the
benefit changes. As of June 30, 2013, the remaining working lifetime  of
the  Tier III POLICE Members is approximately 18 years. Recognizing that
this period will decrease over time as the group  of  Tier  III  Members
matures,  the  Actuary  would  likely  choose  to  amortize the new UAAL
attributable to this proposed legislation  over  a  15-year  period  (14
payments under the OYLM Methodology).
  The  following  Table one presents an estimate of the increases due to
the changes in ODR and ADR provisions for Tier III POLICE Members in the
APV of future employer contributions and in  employer  contributions  to
POLICE  for Fiscal Years 2015 through 2019 that would occur based on the
applicable actuarial assumptions and methods noted herein:

                                 Table 1

                  Estimated Financial Impact on POLICE
                    If Certain Revisions are Made to
                   Provisions for ODR and ADR Benefits
                      for Tier III POLICE Members*

                              ($ Millions)

                        Increase in APV of        Increase in Employer
Fiscal Year       Future Employer Contributions       Contributions

   2015                      $272.3                        $35.7
   2016                       378.7                         47.2
   2017                       469.6                         56.9
   2018                       552.8                         65.5
   2019                       622.9                         72.2

* Based on actuarial assumptions and methods set forth in the  Actuarial
Assumptions  and  Method  Section. Also, based on the projection assump-
tions as described herein.

S. 5596                            13

  ODR and ADR benefits are NOT subject  to  Tier  III  Escalation  (RSSL
Section 510).
  The estimated increases in employer contributions shown in Table 1 are
based upon the following projection assumptions:
  *  Level workforce (i.e., new employees are hired to replace those who
leave active status).
  * Projected salary increases consistent with those used in projections
presented  to  the  New  York  City  Office  of  Management  and  Budget
("NYCOMB") for use in the January 2015 Financial Plan ("Updated Prelimi-
nary Projections").
  *  New  entrant  salaries  consistent  with  those used in the Updated
Preliminary Projections.
  These "open group" projections include future new entrants  introduced
into the census data models to project the future workforces.
  As of each future actuarial valuation date, the current "closed group"
actuarial assumptions and valuation methodology are used.
  Under  this  methodology  only  Plan participants as of each actuarial
valuation date are  utilized  to  determine  APVs,  employer  costs  and
employer contributions.
  FINANCIAL IMPACT - EMPLOYER ENTRY AGE NORMAL COSTS: Employer Entry Age
Normal Costs can provide a useful basis to compare the value of alterna-
tive benefit programs.
  For  each  member who enters POLICE, there is a theoretical net annual
employer cost to be paid for  such  member  while  such  member  remains
actively employed (i.e., the Employer Entry Age Normal Cost (referred to
hereafter as "EEANC")).
  In  addition,  such  EEANC  may be expressed as a percentage of salary
earned over a working lifetime and referred to as the Employer Entry Age
Normal Rate (referred to hereafter as "EEANR").
  Under the proposed legislation and based on the actuarial  assumptions
noted  herein,  the  EEANC and EEANR of Tier III POLICE Members would be
greater than the EEANC and EEANR for comparable Tier III POLICE  Members
entering  at  the  same attained age and gender under the current POLICE
provisions.
  Table 2A shows a summary of the change in EEANC for Original Tier  III
POLICE  Members  for  entry ages 25, 30 and 35 determined as of the most
recent date of published EEANR calculations:

                                Table 2A

              Comparison of Employer Entry Age Normal Rates
                     Determined as of June 30, 2012*

             To Implement Certain ODR and ADR Provisions for
                    Original Tier III POLICE Members

                       Under Proposed Legislation
                          and Under Current Law

                       EEANR Under Proposed Legislation**

                 Entry Age 25         Entry Age 30         Entry Age 35
 Retirement
   System      Male     Female      Male     Female      Male     Female
POLICE        23.91%    24.74%     25.15%    26.14%     27.27%    28.46%

S. 5596                            14

                       EEANR Under Current Law

POLICE        20.92%    21.75%     20.73%    21.71%     20.50%    21.63%

                       Increase in EEANR Due to Proposed Legislation

POLICE        2.99%     2.99%      4.42%     4.43%      6.77%     6.83%

* Based on salaries paid over entire working lifetime. EEANR do not vary
significantly  over  time,  absent  benefit  and/or actuarial assumption
changes.

** EEANR determined under the terms of the revised ODR and  ADR  benefit
provisions based on the Actuarial Assumptions and Methods as noted here-
in  including  changes  in assumptions for ADR. ODR and ADR benefits are
NOT subject to Tier III Escalation (RSSL Section 510).
  Table 2B shows a summary of the change in EEANC for Revised  Tier  III
POLICE  Members  for  entry ages 25, 30 and 35 determined as of the most
recent date of published EEANR calculations:

                                Table 2B

              Comparison of Employer Entry Age Normal Rates
                     Determined as of June 30, 2012*

             To Implement Certain ODR and ADR Provisions for
                     Revised Tier III POLICE Members

                       Under Proposed Legislation
                          and Under Current Law

                       EEANR Under Proposed Legislation**

                 Entry Age 25         Entry Age 30         Entry Age 35
 Retirement
   System      Male     Female      Male     Female      Male     Female
POLICE        23.36%    24.17%     24.68%    25.64%     26.90%    28.07%

                       EEANR Under Current Law

POLICE        19.91%    20.71%     19.66%    20.59%     19.38%    20.46%

                       Increase in EEANR Due to Proposed Legislation

POLICE        3.45%     3.46%      5.02%     5.05%      7.52%     7.61%

* Based on salaries paid over entire working lifetime. EEANR do not vary
significantly over time,  absent  benefit  and/or  actuarial  assumption
changes.

**  EEANR  determined under the terms of the revised ODR and ADR benefit
provisions based on the Actuarial Assumptions and Methods as noted here-
in including changes in assumptions for ADR, ODR and  ADR  benefits  are
NOT subject to Tier III Escalation (RSSL Section 510).
  OTHER COSTS: Not measured in this Fiscal Note are the following:

S. 5596                            15

  * The initial, additional administrative costs of POLICE and other New
York City agencies to implement the proposed legislation.
  *  The  potential  impact  if  this  proposed  legislation  were to be
extended to other public safety employees (e.g., firefighters).
  * The impact of this  proposed  legislation  on  Other  Postemployment
Benefit ("OPEB") costs.
  CENSUS  DATA:  The  starting  census  data  used  for the calculations
presented herein are the census data used  in  the  Updated  Preliminary
June 30, 2013 (Lag) actuarial valuation of POLICE used under the OYLM to
determine  the  Updated  Preliminary  Fiscal Year 2015 employer contrib-
utions.
  The census data used for the estimates of additional employer contrib-
utions presented herein are based on average salaries  of  new  entrants
utilized  in the Updated Preliminary June 30, 2013 (Lag) actuarial valu-
ations used to determine Updated Preliminary Fiscal Year  2015  employer
contributions of POLICE.
  The  3,601 Original Tier III POLICE Members as of June 30, 2013 had an
average age of approximately 28, average service  of  approximately  2.2
years and an average salary of approximately $63,000.
  The  1,916  Revised Tier III POLICE Members as of June 30, 2013 had an
average age of approximately 27, average service  of  approximately  0.6
years and an average salary of approximately $55,000.
  Overall,  the 5,517 Tier III POLICE Members as of June 30, 2013 had an
average age of approximately 28, average service  of  approximately  1.7
years, and an average salary of approximately $60,000.
  ACTUARIAL  ASSUMPTIONS  AND  METHODS: The additional employer contrib-
utions presented herein have been  calculated  based  on  the  actuarial
assumptions  and methods in effect for the June 30, 2013 (Lag) actuarial
valuations used  to  determine  Updated  Preliminary  Fiscal  Year  2015
employer  contributions of POLICE and adjusted for revised ADR eligibil-
ity provisions.
  The probabilities of accidental disability used for  Tier  III  POLICE
Members  in  the  event statutory presumptions were to apply equal those
currently used for Tier I and Tier II POLICE Members.
  The actuarial valuation methodology does not include a calculation  of
the  value  of an offset for Workers' Compensation benefits as it is the
understanding of the Actuary that POLICE Members are not covered by such
benefits.
  To the extent that the enactment of this  proposed  legislation  would
cause a greater (lesser) number of Tier III POLICE Members to be reclas-
sified  from Ordinary Disability to Accidental Disability Retirement, or
to the extent that Tier III POLICE Members who would not otherwise  ever
choose to apply and then receive an Ordinary Disability Retirement bene-
fit  or an Accidental Disability Retirement benefit, then the additional
APVB and employer contributions shown herein would be greater (lesser).
  Employer contributions under current methodology have  been  estimated
assuming  the  additional  APVB  would be financed through future normal
contributions including an amortization of the new UAAL attributable  to
this  proposed  legislation over a 15-year period (14 payments under the
OYLM Methodology).
  New entrants into Tier III POLICE Members were  projected  to  replace
the POLICE members expected to leave the active population to maintain a
steady-state population.
  The following Table 3 presents the total number of active employees of
POLICE  used  in  the  projections, assuming a level work force, and the

S. 5596                            16

cumulative number (i.e., net of withdrawals) of Revised Tier III Members
as of each June 30 from 2013 through 2017.

                                 Table 3
             Surviving Actives from Census on June 30, 2013
                                   and
        Cumulative New Revised Tier III POLICE Members from 2013
                         Used in the Projections*

                              Original        Revised
June 30        Tier I&II      Tier III       Tier III        Total
 2013           29,258         3,601           1,916         34,775
 2014           26,784         3,500           4,491         34,775
 2015           24,565         3,406           6,804         34,775
 2016           22,571         3,314           8,890         34,775
 2017           20,937         3,225          10,613         34,775

  *    Total  active  members included in the projections assume a level
work force based on the June 30, 2013 (Lag) actuarial  valuation  census
data.  Assumes presumptions apply to Tier III POLICE members.
  For  purposes  of estimating the impact of the Tier III Escalation for
retired Tier III POLICE Members, consistent with an underlying  Consumer
Price Inflation ("CPI") assumption of 2.5% per year, Tier III Escalation
of 2.5% per year has been assumed.
  This  compares  with  the current Chapter 125 of the Laws of 2000 COLA
assumption of 1.5% per year (i.e., 50% of CPI adjusted to recognize 1.0%
minimum and 3.0% maximum) on the first $18,000 of benefit.
  For Variable Supplements Fund ("VSF") benefits, it  has  been  assumed
that  retroactive  lump  sum  payments of VSF ("DROP payments") would be
payable from the completion of 20 years of service.
  ECONOMIC VALUES OF BENEFITS: The actuarial assumptions used to  deter-
mine  the financial impact of the proposed legislation discussed in this
Fiscal Note are those appropriate for budgetary models  and  determining
annual employer contributions to POLICE.
  However, the economic assumptions (current and proposed) that are used
for  determining  employer  contributions  do not develop risk-adjusted,
economic values of benefits.  Such  risk-adjusted,  economic  values  of
benefits  would  likely differ significantly from those developed by the
budgetary models.
  STATEMENT OF ACTUARIAL OPINION: I, Robert C. North, Jr., am the Acting
Chief Actuary for the New York City Retirement Systems. I am a Fellow of
the Society of Actuaries and a Member of the American Academy of Actuar-
ies. I meet the Qualification Standards of the American Academy of Actu-
aries to render the actuarial opinion contained herein.
  FISCAL NOTE IDENTIFICATION: This estimate is  intended  for  use  only
during  the  2015  Legislative Session. It is Fiscal Note 2015-02, dated
January 30, 2015 prepared by the Acting Chief Actuary of  the  New  York
City Retirement Systems.
  FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
  In  response  to  your  request  received by the Office of the Actuary
("OA") on January 15, 2015, enclosed is a  Fiscal  Note  presenting  the
estimated   financial   impact   if   proposed  legislation  similar  to
A9975/S7736 which was introduced during the 2014 Legislative Session  is
enacted into law during the 2015 Legislative Session.
  BACKGROUND - DESIGN OF PROPOSED LEGISLATION
  In general, the OA believes that proposed legislation should:

S. 5596                            17

  * Be technically accurate,
  * Be clear in its intent,
  * Be administrable, and
  * Meet desired policy objectives.
  While  the  OA  cannot  provide  any legal analysis, the OA has done a
review of the proposed legislation and has some concerns. These concerns
that follow represent the best understanding of the Actuary and staff of
the OA and should not be considered legal interpretations. All of  these
concerns and suggestions should be reviewed by Counsel.
  Unless  otherwise noted, for purposes of this letter the term Tier III
FIRE Members refers to members of the New York Fire  Department  Pension
Fund  ("FIRE")  who  have a date of membership on or after April 1, 2012
and the one Tier III member of FIRE who has a date of membership  on  or
after July 1, 2009 and prior to April 1, 2012.
   CONCERNS WITH PROPOSED LEGISLATION WITH RESPECT TO ORDINARY DISABILI-
TY RETIREMENT ("ODR") AND ACCIDENTAL DISABILITY RETIREMENT ("ADR")
  *  Benefits Compared to Tier II: The proposed legislation, if enacted,
would revise the ODR and ADR benefit formulas for Tier III FIRE Members.
  It appears that the proposed Tier III ODR benefit formula is  intended
to  be  the  same  as  the ODR benefit available to Tier II FIRE Members
(i.e., 1/40 of Final Average Salary ("FAS") multiplied by the  years  of
service,  but  not less than (1) one-half of FAS if the years of service
are 10 or more or (2) one-third of FAS if the years of service are  less
than  10)  where  the  FAS for Tier III FIRE Members would be based on a
one-year FAS, the same as for Tier II.
  Similarly, it also appears that the proposed ADR benefit  formula  for
Tier  III  FIRE  Members  is  intended to be the same as the ADR benefit
available to Tier II FIRE Members (i.e., 75%  of  Final  Average  Salary
("FAS")),  where  the  FAS for Tier III FIRE Members would be based on a
one-year FAS, the same as for Tier II.
  Note: Tier II FIRE Members are also entitled to an additional 1/60  of
total earnings after their 20th anniversary. Given the proposed statuto-
ry  references  it is the understanding of the Actuary that the Tier III
FIRE Members impacted by the proposed legislation would not receive this
additional 1/60 of total earnings after 20 years of service.
  FIRE Tier II ODR  and  ADR  benefits  are  subject  to  Cost-of-Living
Adjustments  ("COLA") under Chapter 125 of the Laws of 2000 on the first
$18,000 of benefit after five years of Disability Retirement.
  Given the proposed statutory references, it is  the  understanding  of
the  Actuary  that  the  proposed ODR and ADR benefits for Tier III FIRE
Members would be entitled to the COLA described in the  preceding  para-
graph,  but  would  NOT  be  subject  to  an  annual Tier III Escalation
increase on the full benefit immediately from  the  date  of  Disability
Retirement.
  * Reference to ITHP: The proposed legislation, in defining the revised
ODR and ADR benefits, uses the term Increased-Take-Home-Pay ("ITHP").
  ITHP  is  a special benefit provided to Tier I and Tier II members and
is not defined for Tier III members.
  Given the history that no Tier III Members  have  ever  received  ITHP
benefits,  the Actuary has assumed that if the proposed legislation were
enacted, Tier III FIRE Members would not be entitled to ITHP.
  * Annuitization of  Member  Contributions:  The  proposed  legislation
would  include  in  the  ODR  and ADR benefit formulas for Tier III FIRE
Members, a benefit in the form of an  annuity  equal  to  the  actuarial
equivalent  of  the accumulated Tier III member contributions at retire-
ment.

S. 5596                            18

  Annuitized benefits based directly on member contributions are  avail-
able  to  Tier  II FIRE Members. However, it is the understanding of the
Actuary that no current Tier III Member has any benefit which is defined
as an annuitization of accumulated member contributions.
  *  General  Plan  Design: From an administrative and design viewpoint,
the Actuary would suggest that consideration be given  to  incorporating
enhanced  ODR  and ADR benefit eligibilities and benefit formulas within
Retirement and Social Security Law ("RSSL") Article 14, using only Arti-
cle 14 terminology and structure to achieve  the  desired  ODR  and  ADR
benefit eligibilities and benefit levels.
  *  Name:  The  official  name of the Pension Fund is the New York Fire
Department Pension Fund.
  * Presumptive Conditions for ADR
  It is the understanding of the Actuary that the proposed  legislation,
if enacted, would provide Tier III FIRE Members the ability to be eligi-
ble  for  and to utilize the presumptive conditions that qualify for ADR
that are available to Tier I and Tier II FIRE Members.
  The reasoning behind this understanding is that in the proposed legis-
lation eligibility conditions for Tier III FIRE members for ODR would be
determined pursuant to the Administrative Code of the City of  New  York
("ACNY")  Sections  13-316, 13-352 and 13-357 (i.e., those that apply to
Tier I and Tier  II  FIRE  Members),  notwithstanding  anything  to  the
contrary.
  Similarly,  in  the  proposed  legislation, eligibility conditions for
Tier III FIRE Members for ADR would be determined pursuant to  the  ACNY
Sections 13-316, 13-353 and 13-357 (i.e., those that apply to Tier I and
Tier II FIRE Members), notwithstanding anything to the contrary.
  It  is  the  understanding  of the Actuary that in the proposed legis-
lation, eligibility for ODR and  ADR  would  not  be  pursuant  to  RSSL
Section  507.e.   RSSL Section 507.e provides that a member shall not be
eligible for ODR or ADR unless the member waives  the  benefits  of  any
statutory  presumptions.  Accordingly,  it  is  the understanding of the
Actuary that since under the proposed  legislation  RSSL  Section  507.e
would  no  longer  apply to Tier III FIRE Members, Tier III FIRE Members
would not be required to waive RSSL Section 507.e in order to be  eligi-
ble  for  ODR  or ADR benefits. Consequently, the statutory presumptions
would apply since they have not been waived.
  In accordance with the above reasoning, since current  Tier  III  FIRE
Members  are required to waive the presumptions pursuant to RSSL Section
507.e, it is the understanding of the Actuary that Tier III FIRE Members
are currently not entitled to presumptive conditions for ADR.
  * Consistency Amongst Uniformed Groups
  This proposed legislation would cover members of FIRE but not  members
of  the  New  York  City  Police  Pension  Fund  ("POLICE") or any other
uniformed groups. Given the historical consistency in  benefits  amongst
certain uniformed groups, this proposed legislation would likely lead to
demands  for  similar  legislation  for  at  least  some other uniformed
groups.
  PROVISIONS OF PROPOSED LEGISLATION: This  proposed  legislation  would
amend  Retirement  and  Social  Security Law ("RSSL") Sections 506, 507,
510, 511 and 512 and amend Administrative Code of the City of  New  York
("ACNY")  Section  13-357  to  change,  for members of the New York Fire
Department Pension Fund ("FIRE") subject to Article 14 of the RSSL,  the
eligibility  for  and  the calculation of Ordinary Disability Retirement
("ODR") benefits and Accidental Disability Retirement ("ADR") benefits.

S. 5596                            19

  Unless otherwise noted, for purposes of this Fiscal Note the term Tier
III FIRE members refers to members  of  the  New  York  Fire  Department
Pension  Fund ("FIRE") who have a date of membership on or after July 1,
2009. Note: Although referred to herein as Tier III members,  it  should
be  noted that members who join FIRE on or after April 1, 2012 are often
referred to as Tier VI members or Revised Tier III members.  Also  Note:
There  is  only one Tier III member of FIRE who has a date of membership
on or after July 1, 2009 and prior to April 1, 2012.
  The Effective Date of the proposed legislation would be the  60th  day
after the date of enactment.
  IMPACT ON ODR BENEFITS PAYABLE: The current eligibility provisions for
ODR benefits for Tier III FIRE Members are based on:
  * Completing five or more years of service, and
  *  Becoming eligible for Primary Social Security Disability retirement
benefits.
  Such ODR benefits are equal to the greater of:
  * 33 1/3% of Five-Year Final Average Salary ("FAS"), or
  * 2% of FAS multiplied by years of credited service (not in excess  of
22 years),
  *  Reduced  by  50% of the Primary Social Security Disability benefits
(determined under RSSL Section 511), and
  * Reduced by 100% of Workers' Compensation benefits (if any).
  It is the understanding of the  Actuary  that  FIRE  Members  are  not
covered by Workers' Compensation.
  Under  the  proposed  legislation the eligibility requirements for ODR
benefits for Tier III FIRE Members would be revised to be  the  same  as
those  provided  in  ACNY  Sections 13-316, 13-352 and 13-357 (i.e., the
provisions applicable to Tier I and Tier II FIRE members).
  In particular, completing five or more years of service would  not  be
required in order to be eligible for ODR benefits. In other words, there
would  not  be  any  requirement for any minimum length of service to be
completed in order to be eligible for ODR benefits.
  Under the proposed legislation, if enacted, the ODR benefit  for  Tier
III FIRE Members would be an allowance consisting of:
  * An actuarial equivalent annuity of accumulated member contributions,
plus
  *  A  pension,  which together with the annuity, equal to 1/40 of One-
Year Final Average Salary  ("FAS1")  multiplied  by  years  of  credited
service, but not less than:
  ** 1/2 of FAS1, if years of credited service are greater than or equal
to 10 years, or
  ** 1/3 of FAS1, if years of credited service are less than 10 years.
  Note:  The  proposed legislation also states that one component of the
ODR benefit would be the actuarial equivalent annuity of  an  Increased-
Take-Home-Pay ("ITHP") reserve. This theoretical benefit is not included
in  this Fiscal Note analysis since it is the understanding of the Actu-
ary that ITHP is not available to Tier III members generally and is  not
specifically defined in the proposed legislation.
  In  addition,  the proposed legislation would NOT apply the Escalation
available under RSSL Section 510 to  ODR  benefits  for  Tier  III  FIRE
Members. However, such ODR benefits would still be eligible for Cost-of-
Living Adjustments ("COLA") under Chapter 125 of the Laws of 2000.
  IMPACT ON ADR BENEFITS PAYABLE: The current eligibility provisions for
ADR benefits for Tier III FIRE Members are based on satisfying either:

S. 5596                            20

  *  Being  eligible  for Social Security Disability retirement benefits
and having become disabled due to an accident sustained in the  line  of
duty, or
  *  Being  physically or mentally incapacitated as a result of an acci-
dent sustained in the line of duty  as  determined  by  the  appropriate
administrative authority assigned by FIRE.
  As  a  consequence of RSSL Section 507.e, a Tier III FIRE Member would
not be eligible for ADR unless the member waived  the  benefits  of  any
statutory presumptions (e.g., certain heart diseases).
  Such  ADR benefits are calculated using a formula of 50% multiplied by
FAS less 50% of Primary Social Security disability  benefit  (determined
under  RSSL Section 511) and less 100% of Workers' Compensation benefits
(if any).
  Note: It is the understanding of the Actuary that FIRE Members are not
covered by Workers' Compensation.
  Under the proposed legislation the eligibility  requirements  for  ADR
benefits  for  Tier  III FIRE Members would be revised to be the same as
those provided in ACNY Sections 13-316, 13-353  and  13-357  (i.e.,  the
provisions applicable to Tier I and Tier II FIRE Members).
  In  addition, it is the understanding of the Actuary that the proposed
legislation, if enacted, would provide that Tier III FIRE Members  could
be  eligible  for  and utilize the statutory presumptions (e.g., certain
heart diseases) that qualify certain Tier I and Tier II Fire Members for
ADR.
  Under the proposed legislation, if enacted, the ADR benefit  for  Tier
III  FIRE Members would be revised to equal a retirement allowance equal
to the sum of:
  * An actuarial equivalent annuity of accumulated member contributions,
plus
  * 75% multiplied by FAS1.
  Note: The proposed legislation also states that one component  of  the
ADR  benefit  would be the actuarial equivalent annuity of an Increased-
Take-Home-Pay ("ITHP") reserve. This theoretical benefit is not included
in this Fiscal Note analysis since it is the understanding of the  Actu-
ary  that ITHP is not available to Tier III members generally and is not
specifically defined in the proposed legislation.
  Also note, it is the understanding of the Actuary that  the  Tier  III
FIRE  Members impacted by the proposed legislation would not receive any
additional 1/60 of annual earnings after 20 years of service.
  In addition, the proposed legislation would NOT apply  the  Escalation
available  under  RSSL  Section  510  to  ADR benefits for Tier III FIRE
Members. However, such ADR benefits would still be eligible for Cost-of-
Living Adjustments ("COLA") under Chapter 125 of the Laws of 2000.
  FINANCIAL IMPACT - CHANGES IN BENEFITS  -  ACTUARIAL  PRESENT  VALUES.
Based on the census data and the actuarial assumptions and methods noted
herein,  if  the Effective Date is on or before June 30, 2015, then this
would change the Actuarial Present Value ("APV") of  benefits  ("APVB"),
APV  of  member  contributions, the Unfunded Actuarial Accrued Liability
("UAAL") and APV of future employer contributions as of  June  30,  2013
for Tier III FIRE Members.
  FINANCIAL  IMPACT  -  CHANGES  IN  PROJECTED  APV  OF  FUTURE EMPLOYER
CONTRIBUTIONS AND PROJECTED EMPLOYER CONTRIBUTIONS: For purposes of this
Fiscal Note, it is assumed that the  changes  in  APVB,  APV  of  member
contributions,  UAAL  and  APV of future employer contributions would be
reflected for the first time in the June 30, 2013 actuarial valuation of
FIRE.

S. 5596                            21

  Under the One-Year Lag  Methodology  ("OYLM"),  the  first  year  that
changes  in  benefits  for  Tier  III FIRE Members could impact employer
contributions to FIRE would be Fiscal Year 2015.
  In  accordance  with ACNY Section 13.638.2(k-2), new UAAL attributable
to benefit changes are to be amortized as determined by the Actuary  but
generally  over  the remaining working lifetime of those impacted by the
benefit changes. As of June 30, 2013, the remaining working lifetime  of
the  Tier  III  FIRE Members is approximately 24 years. Recognizing that
this period will decrease over time as the group  of  Tier  III  Members
matures,  the  Actuary  would  likely  choose  to  amortize the new UAAL
attributable to this proposed legislation  over  a  15-year  to  20-year
period (between 14 and 19 payments under the OYLM Methodology). However,
since  virtually all of the Tier III FIRE members that would be impacted
by the benefit changes are new entrants, the resulting UAAL would be  de
minimis and therefore the amortization period used for the UAAL has very
little impact on the final results.
  The following Table 1 presents an estimate of the increases due to the
changes  in  ODR and ADR provisions for Tier III FIRE Members in the APV
of future employer contributions and in employer contributions  to  FIRE
for  Fiscal Years 2015 through 2019 that would occur based on the appli-
cable actuarial assumptions and methods noted herein:

                                 Table 1
                   Estimated Financial Impact on FIRE
                    If Certain Revisions are Made to
                   Provisions for ODR and ADR Benefits
                       for Tier III FIRE Members*

                              ($ Millions)

                          Increase in APV of         Increase in Employer
Fiscal Year           Future Employer Contributions    Contributions

   2015                         $15.7                         $1.9
   2016                          67.7                          8.0
   2017                         119.6                         13.4
   2018                         172.7                         18.3
   2019                         227.0                         23.0

* Based on actuarial assumptions and methods set forth in the Actuarial
Assumptions and Method section. Also, based on the projection assumptions
as described herein.
  ODR and ADR benefits are NOT subject  to  Tier  III  Escalation  (RSSL
Section 510).
  The estimated increases in employer contributions shown in Table 1 are
based upon the following projection assumptions:
  *  Level workforce (i.e., new employees are hired to replace those who
leave active status).
  * Projected salary increases consistent with those used in projections
presented  to  the  New  York  City  Office  of  Management  and  Budget
("NYCOMB")  for  use  in  the  January 2015 Financial Plan ("Preliminary
Projections").
  * New entrant salaries consistent  with  those  used  in  the  Updated
Preliminary Projections.
  These  "open group" projections include future new entrants introduced
into the census data models to project the future workforces.

S. 5596                            22

  As of each future actuarial valuation date, the current "closed group"
actuarial assumptions and valuation methodology are used.
  Under  this  methodology  only  Plan participants as of each actuarial
valuation date are  utilized  to  determine  APVs,  employer  costs  and
employer contributions.
  FINANCIAL IMPACT - EMPLOYER ENTRY AGE NORMAL COSTS: Employer Entry Age
Normal Costs can provide a useful basis to compare the value of alterna-
tive benefit programs.
  For  each  member  who  enters FIRE, there is a theoretical net annual
employer cost to be paid for  such  member  while  such  member  remains
actively employed (i.e., the Employer Entry Age Normal Cost ("EEANC")).
  In  addition,  such  EEANC  may be expressed as a percentage of salary
earned over a working lifetime and referred to as the Employer Entry Age
Normal Rate ("EEANR").
  Under the proposed legislation and based on the actuarial  assumptions
noted  herein,  the  EEANC  and  EEANR of Tier III Fire Members would be
greater than the EEANC and EEANR for comparable Tier  III  FIRE  Members
entering  at  the  same  attained  age and gender under the current FIRE
provisions.
  Table 2 shows a summary of the change  in  EEANR  for  Tier  III  FIRE
Members  who  have  a  date  of membership on or after April 1, 2012 for
entry ages 25, 30 and 35 with a starting salary of  $45,000,  determined
as of the most recent date of published EEANR calculations:

                                 Table 2
              Comparison of Employer Entry Age Normal Rates
                     Determined as of June 30, 2012*

             To Implement Certain ODR and ADR Provisions for
 Tier III FIRE Members with a Membership Date on or After April 1, 2012

                       Under Proposed Legislation
                                   and
                            Under Current Law

                   EEANR Under Proposed Legislation**

                 Entry Age 25        Entry Age 30        Entry Age 35
Retirement
System          Male     Female     Male     Female     Male     Female
FIRE            21.92%   22.50%     27.31%   28.01%     34.55%   35.31%

                         EEANR Under Current Law

FIRE            15.94%   16.51%     18.99%   19.68%     21.78%   22.51%

              Increase In EEANR Due to Proposed Legislation

FIRE            5.98%    5.99%      8.32%    8.33%      12.77%   12.80%

  * Based on salaries paid over entire working lifetime. EEANR do not vary
significantly over time, absent benefit and/or actuarial assumption
changes.
  ** EEANR determined under the terms of the revised ODR and ADR benefit
provisions based on the Actuarial Assumptions and Methods as noted herein
including changes in assumptions for ADR, ODR and ADR benefits are

S. 5596                            23

NOT subject to Tier III Escalation (RSSL Section 510).
  OTHER COSTS: Not measured in this Fiscal Note are the following:
  *  The  initial, additional administrative costs of FIRE and other New
York City agencies to implement the proposed legislation.
  * The potential  impact  if  this  proposed  legislation  were  to  be
extended to other public safety employees.
  *  The  impact  of  this  proposed legislation on Other Postemployment
Benefit ("OPEB") costs.
  CENSUS DATA:  The  starting  census  data  use  for  the  calculations
presented  herein  are  the  census data used in the Updated Preliminary
June 30, 2013 (Lag) actuarial valuation of FIRE used  to  determine  the
Updated Preliminary Fiscal Year 2015 employer contributions.
  The census data used for the estimates of additional employer contrib-
utions  presented  herein  are based on average salaries of new entrants
utilized in the Updated Preliminary June 30, 2013 (Lag) actuarial  valu-
ations  used  to determine Updated Preliminary Fiscal Year 2015 employer
contributions of FIRE.
  The 169 Tier III FIRE Members as of June 30, 2013 (including  the  one
Tier III member who has a date of membership prior to April 1, 2012) had
an average age of approximately 27, average service of approximately 0.5
years and an average salary of approximately $48,200.
  ACTUARIAL  ASSUMPTIONS  AND  METHODS: The additional employer contrib-
utions presented herein have been  calculated  based  on  the  actuarial
assumptions  and methods in effect for the June 30, 2013 (Lag) actuarial
valuations used  to  determine  Updated  Preliminary  Fiscal  Year  2015
employer  contributions of FIRE and adjusted for revised ADR eligibility
provisions.
  The probabilities of accidental disability  used  for  Tier  III  FIRE
Members  in  the  event statutory presumptions were to apply equal those
currently used for Tier I and Tier II FIRE Members.
  The actuarial valuation methodology does not include a calculation  of
the  value  of an offset for Workers' Compensation benefits as it is the
understanding of the Actuary that FIRE members are not covered  by  such
benefits.
  To  the  extent  that the enactment of this proposed legislation would
cause a greater (lesser) number of Tier III FIRE Members to be reclassi-
fied from Ordinary Disability to Accidental Disability Retirement, or to
the extent that Tier III FIRE  Members  who  would  not  otherwise  ever
choose to apply and then receive an Ordinary Disability Retirement bene-
fit  or an Accidental Disability Retirement benefit, then the additional
APVB and employer contributions shown herein would be greater (lesser).
  Employer contributions under current methodology have  been  estimated
assuming  the  additional  APVB  would be financed through future normal
contributions including an amortization of the new UAAL attributable  to
this  proposed  legislation over a 15-year period (14 payments under the
OYLM Methodology).
  New entrants into Tier III FIRE Members were projected to replace  the
FIRE  members  expected  to  leave  the  active population to maintain a
steady-state population.
  The following Table 3 presents the total number of active employees of
FIRE used in the projections, assuming a level work force, and the cumu-
lative number (i.e., net of withdrawals) of Tier III Members as of  each
June 30 from 2013 through 2017.

                                 Table 3
             Surviving Actives from Census on June 30, 2013

S. 5596                            24

                                   and
             Cumulative New Tier III FIRE Members from 2013
                        Used in the Projections*

June 30        Tier I & II         Tier III           Total

2013           10,013              169                10,182
2014           9,486               696                10,182
2015           8,988               1,194              10,182
2016           8,509               1,673              10,182
2017           8,055               2,127              10,182

  * Total active members included in the projections assume a level work
force  based on the June 30, 2013 (Lag) actuarial valuation census data.
Assumes presumptions apply to Tier III FIRE members.
  For purposes of estimating the impact of the Tier III  Escalation  for
retired  Tier  III  FIRE Members, consistent with an underlying Consumer
Price Inflation ("CPI") assumption of 2.5% per year, Tier III Escalation
of 2.5% per year has been assumed.
  This compares with the current Chapter 125 of the Laws  of  2000  COLA
assumption of 1.5% per year (i.e., 50% of CPI adjusted to recognize 1.0%
minimum and 3.0% maximum) on the first $18,000 of benefit.
  For  Variable  Supplements  Fund ("VSF") benefits, it has been assumed
that retroactive lump sum payments of VSF  ("DROP  payments")  would  be
payable from the completion of 20 years of service.
  ECONOMIC  VALUES OF BENEFITS: The actuarial assumptions used to deter-
mine the financial impact of the proposed legislation discussed in  this
Fiscal  Note  are those appropriate for budgetary models and determining
annual employer contributions to FIRE.
  However, the economic assumptions (current and proposed) that are used
for determining employer contributions  do  not  develop  risk-adjusted,
economic  values  of  benefits.  Such  risk-adjusted, economic values of
benefits would likely differ significantly from those developed  be  the
budgetary models.
  STATEMENT  OF ACTUARIAL OPINION: I, Robert C. North Jr., am the Acting
Chief Actuary for the New York City Retirement Systems. I am a Fellow of
the Society of Actuaries and a Member of the American Academy of Actuar-
ies. I meet the Qualification Standards of the American Academy of Actu-
aries to render the actuarial opinion contained herein.
  FISCAL NOTE IDENTIFICATION: This estimate is  intended  for  use  only
during  the  2015  Legislative Session. It is Fiscal Note 2015-03, dated
January 30, 2015 prepared by the Acting Chief Actuary of  the  New  York
Fire Department Pension Fund.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  BACKGROUND - DESIGN OF PROPOSED LEGISLATION
  In general, the OA believes that proposed legislation should:
  * Be technically accurate,
  * Be clear in its intent,
  * Be administrable, and
  * Meet desired policy objectives.
  While  the  OA  cannot  provide  any legal analysis, the OA has done a
review of the proposed legislation and has some concerns. These concerns
that follow represent the best understanding of the Actuary and staff of
the OA and should not be considered legal interpretations. All of  these
concerns and suggestions should be reviewed by Counsel.

S. 5596                            25

  Unless  otherwise noted, for purposes of this letter the term Tier III
FIRE Members refers to members of the New York Fire  Department  Pension
Fund  ("FIRE")  who  have a date of membership on or after April 1, 2012
and the one Tier III member of FIRE who has a date of membership  on  or
after July 1, 2009 and prior to April 1, 2012.
  CONCERNS WITH PROPOSED LEGISLATION WITH RESPECT TO ORDINARY DISABILITY
RETIREMENT ("ODR") AND ACCIDENTAL DISABILITY RETIREMENT ("ADR")
  *  Benefits Compared to Tier II: The proposed legislation, if enacted,
would revise the ODR and ADR benefit formulas for Tier III FIRE Members.
  It appears that the proposed Tier III ODR benefit formula is  intended
to  be  the  same  as  the ODR benefit available to Tier II FIRE Members
(i.e., 1/40 of Final Average Salary ("FAS") multiplied by the  years  of
service,  but  not less than (1) one-half of FAS if the years of service
are 10 or more or (2) one-third of FAS if the years of service are  less
than  10)  where  the  FAS for Tier III FIRE Members would be based on a
one-year FAS, the same as for Tier II.
  Similarly, it also appears that the proposed ADR benefit  formula  for
Tier  III  FIRE  Members  is  intended to be the same as the ADR benefit
available to Tier II FIRE Members (i.e., 75%  of  Final  Average  Salary
("FAS")),  where  the  FAS for Tier III FIRE Members would be based on a
one-year FAS, the same as for Tier II.
  Note: Tier II FIRE Members are also entitled to an additional 1/60  of
total earnings after their 20th anniversary. Given the proposed statuto-
ry  references  it is the understanding of the Actuary that the Tier III
FIRE Members impacted by the proposed legislation would not receive this
additional 1/60 of total earnings after 20 years of service.
  FIRE Tier II ODR  and  ADR  benefits  are  subject  to  Cost-of-Living
Adjustments  ("COLA") under Chapter 125 of the Laws of 2000 on the first
$18,000 of benefit after five years of Disability Retirement.
  Given the proposed statutory references, it is  the  understanding  of
the  Actuary  that  the  proposed ODR and ADR benefits for Tier III FIRE
Members would be entitled to the COLA described in the  preceding  para-
graph,  but  would  NOT  be  subject  to  an  annual Tier III Escalation
increase on the full benefit immediately from  the  date  of  Disability
Retirement.
  * Reference to ITHP: The proposed legislation, in defining the revised
ODR and ADR benefits, uses the term Increased-Take-Home-Pay ("ITHP").
  ITHP  is  a special benefit provided to Tier I and Tier II members and
is not defined for Tier III members.
  Given the history that no Tier III Members  have  ever  received  ITHP
benefits,  the Actuary has assumed that if the proposed legislation were
enacted, Tier III FIRE Members would not be entitled to ITHP.
  * Annuitization of  Member  Contributions:  The  proposed  legislation
would  include  in  the  ODR  and ADR benefit formulas for Tier III FIRE
Members, a benefit in the form of an  annuity  equal  to  the  actuarial
equivalent  of  the accumulated Tier III member contributions at retire-
ment.
  Annuitized benefits based directly on member contributions are  avail-
able  to  Tier  II FIRE Members. However, it is the understanding of the
Actuary that no current Tier III Member has any benefit which is defined
as an annuitization of accumulated member contributions.
  * General Plan Design: From an administrative  and  design  viewpoint,
the  Actuary  would suggest that consideration be given to incorporating
enhanced ODR and ADR benefit eligibilities and benefit  formulas  within
Retirement and Social Security Law ("RSSL") Article 14, using only Arti-

S. 5596                            26

cle  14  terminology  and  structure  to achieve the desired ODR and ADR
benefit eligibilities and benefit levels.
  *  Name:  The  official  name of the Pension Fund is the New York Fire
Department Pension Fund.
  * Presumptive Conditions for ADR
  It is the understanding of the Actuary that the proposed  legislation,
if enacted, would provide Tier III FIRE Members the ability to be eligi-
ble  for  and to utilize the presumptive conditions that qualify for ADR
that are available to Tier I and Tier II FIRE Members.
  The reasoning behind this understanding is that in the proposed legis-
lation, eligibility conditions for Tier III FIRE members for  ODR  would
be  determined  pursuant  to  the Administrative Code of the City of New
York ("ACNY") Sections 13-316, 13-352 and 13-357 (i.e., those that apply
to Tier I and Tier II FIRE Members),  notwithstanding  anything  to  the
contrary.
  Similarly,  in  the  proposed  legislation, eligibility conditions for
Tier III FIRE Members for ADR would be determined pursuant to the Admin-
istrative Code of the City of New York ("ACNY") Sections 13-316,  13-353
and  13-357 (i.e., those that apply to Tier I and Tier II FIRE Members),
notwithstanding anything to the contrary.
  It is the understanding of the Actuary that  in  the  proposed  legis-
lation,  eligibility  for  ODR  and  ADR  would  not be pursuant to RSSL
Section 507.e.  RSSL Section 507.e provides that a member shall  not  be
eligible  for  ODR  or  ADR unless the member waives the benefits of any
statutory presumptions. Accordingly, it  is  the  understanding  of  the
Actuary  that  since  under  the proposed legislation RSSL Section 507.e
would no longer apply to Tier III FIRE Members, Tier  III  FIRE  Members
would  not be required to waive RSSL Section 507.e in order to be eligi-
ble for ODR or ADR benefits. Consequently,  the  statutory  presumptions
would apply since they have not been waived.
  In  accordance  with  the above reasoning, since current Tier III FIRE
Members are required to waive the presumptions pursuant to RSSL  Section
507.e, it is the understanding of the Actuary that Tier III FIRE Members
are currently not entitled to presumptive conditions for ADR.
  * Consistency Amongst Uniformed Groups
  This  proposed legislation would cover members of FIRE but not members
of the New York  City  Police  Pension  Fund  ("POLICE")  or  any  other
uniformed  groups.  Given the historical consistency in benefits amongst
certain uniformed groups, this proposed legislation would likely lead to
demands for similar  legislation  for  at  least  some  other  uniformed
groups.
  FISCAL  NOTE: PROVISIONS OF PROPOSED LEGISLATION: This proposed legis-
lation would amend Retirement and Social Security Law ("RSSL")  Sections
506,  507, 510, 511 and 512 and amend Administrative Code of the City of
New York ("ACNY") Section 13-357 to change, for members of the New  York
Fire Department Pension Fund ("FIRE") subject to Article 14 of the RSSL,
the  eligibility  for and the calculation of Ordinary Disability Retire-
ment ("ODR") benefits and Accidental Disability Retirement ("ADR") bene-
fits.
  The proposed legislation would also amend ACNY  Section  13-353.1  and
General Municipal Law ("GML") Sections 207-k, 207-kk, 207-p and 207-q to
change  the  eligibility  requirements  for  Medical Officers of FIRE to
utilize the statutory presumptions that qualify FIRE members for ADR.
  Unless otherwise noted, for purposes of this Fiscal Note the term Tier
III FIRE members refers to members  of  the  New  York  Fire  Department
Pension  Fund ("FIRE") who have a date of membership on or after July 1,

S. 5596                            27

2009. Note: Although referred to herein as Tier III members,  it  should
be  noted that members who join FIRE on or after April 1, 2012 are often
referred to as Tier VI members or Revised Tier III members.  Also  Note:
There  is  only one Tier III member of FIRE who has a date of membership
on or after July 1, 2009 and prior to April 1, 2012.
  The Effective Date of the proposed legislation would be the  60th  day
after the date of enactment.
  IMPACT ON ODR BENEFITS PAYABLE: The current eligibility provisions for
ODR benefits for Tier III FIRE Members are based on:
  * Completing five or more years of service, and
  *  Becoming eligible for Primary Social Security Disability retirement
benefits.
  Such ODR benefits are equal to the greater of:
  * 33 1/3% of Five-Year Final Average Salary ("FAS"), or
  * 2% of FAS multiplied by years of credited service (not in excess  of
22 years),
  *  Reduced  by  50% of the Primary Social Security Disability benefits
(determined under RSSL Section 511), and
  * Reduced by 100% of Workers' Compensation benefits (if any).
  It is the understanding of the  Actuary  that  FIRE  Members  are  not
covered by Workers' Compensation.
  Under  the  proposed  legislation the eligibility requirements for ODR
benefits for Tier III FIRE Members would be revised to be  the  same  as
those  provided  in  ACNY  Sections 13-316, 13-352 and 13-357 (i.e., the
provisions applicable to Tier I and Tier II FIRE members).
  In particular, completing five or more years of service would  not  be
required in order to be eligible for ODR benefits. In other words, there
would  not  any  requirement  for  any  minimum  length of service to be
completed in order to be eligible for ODR benefits.
  Under the proposed legislation, if enacted, the ODR benefit  for  Tier
III FIRE Members would be an allowance consisting of:
  * An actuarial equivalent annuity of accumulated member contributions,
plus
  *  A  pension,  which together with the annuity, equal to 1/40 of One-
Year Final Average Salary  ("FAS1")  multiplied  by  years  of  credited
service, but not less than:
  *  *  1/2  of  FAS1,  if years of credited service are greater than or
equal to 10 years, or
  * * 1/3 of FAS1, if years of credited service are less than 10 years.
  Note: The proposed legislation also states that one component  of  the
ODR  benefit  would be the actuarial equivalent annuity of an Increased-
Take-Home-Pay ("ITHP") reserve. This theoretical benefit is not included
in this Fiscal Note analysis since it is the understanding of the  Actu-
ary  that ITHP is not available to Tier III members generally and is not
specifically defined in the proposed legislation.
  In addition, the proposed legislation would NOT apply  the  Escalation
available  under  RSSL  Section  510  to  ODR benefits for Tier III FIRE
Members. However, such ODR benefits would still be eligible for Cost-of-
Living Adjustments ("COLA") under Chapter 125 of the Laws of 2000.
  IMPACT ON ADR BENEFITS PAYABLE: The current eligibility provisions for
ADR benefits for Tier III FIRE Members are based on satisfying either:
  * Being eligible for Social Security  Disability  retirement  benefits
and  having  become disabled due to an accident sustained in the line of
duty, or

S. 5596                            28

  * Being physically or mentally incapacitated as a result of  an  acci-
dent  sustained  in  the  line  of duty as determined by the appropriate
administrative authority assigned by FIRE.
  As  a  consequence of RSSL Section 507.e, a Tier III FIRE Member would
not be eligible for ADR unless the member waived  the  benefits  of  any
statutory presumptions (e.g., certain heart diseases).
  Such  ADR benefits are calculated using a formula of 50% multiplied by
FAS less 50% of Primary Social Security disability  benefit  (determined
under  RSSL Section 511) and less 100% of Workers' Compensation benefits
(if any).
  Note: It is the understanding of the Actuary that FIRE Members are not
covered by Workers' Compensation.
  Under the proposed legislation the eligibility  requirements  for  ADR
benefits  for  Tier  III FIRE Members would be revised to be the same as
those provided in ACNY Sections 13-316, 13-353  and  13-357  (i.e.,  the
provisions applicable to Tier I and Tier II FIRE Members).
  In  addition, it is the understanding of the Actuary that the proposed
legislation, if enacted, would provide that Tier III FIRE Members  could
be  eligible  for  and utilize the statutory presumptions (e.g., certain
heart diseases) that qualify certain Tier I and Tier II FIRE Members for
ADR.
  The current eligibility to utilize the statutory presumptions requires
that the member must have successfully passed a physical examination for
entry into public service which failed to disclose evidence of the qual-
ifying condition or impairment of health that formed the basis  for  the
disability.
  Under  the  proposed  legislation,  Medical  Officers  may satisfy the
eligibility to utilize the statutory presumptions provided  the  Medical
Officer authorized release of all relevant medical records, and there is
no  evidence  of  the qualifying condition or impairment that formed the
basis for the disability in such medical records unless the contrary  is
proved by competent evidence.
  Under  the  proposed legislation, if enacted, the ADR benefit for Tier
III FIRE Members would be revised to equal a retirement allowance  equal
to the sum of:
  * An actuarial equivalent annuity of accumulated member contributions,
plus
  * 75% multiplied by FAS1.
  Note:  The  proposed legislation also states that one component of the
ADR benefit would be the actuarial equivalent annuity of  an  Increased-
Take-Home-Pay ("ITHP") reserve. This theoretical benefit is not included
in  this Fiscal Note analysis since it is the understanding of the Actu-
ary that ITHP is not available to Tier III members generally and is  not
specifically defined in the proposed legislation.
  Also  note,  it  is the understanding of the Actuary that the Tier III
FIRE Members impacted by the proposed legislation would not receive  any
additional 1/60 of annual earnings after 20 years of service.
  In  addition,  the proposed legislation would NOT apply the Escalation
available under RSSL Section 510 to  ADR  benefits  for  Tier  III  FIRE
Members. However, such ADR benefits would still be eligible for Cost-of-
Living Adjustments ("COLA") under Chapter 125 of the Laws of 2000.
  FINANCIAL  IMPACT  -  CHANGES  IN BENEFITS - ACTUARIAL PRESENT VALUES:
Based on the census data and the actuarial assumptions and methods noted
herein, if the Effective Date is on or before June 30, 2015,  then  this
would  change  the Actuarial Present Value ("APV") of benefits ("APVB"),
APV of member contributions, the  Unfunded  Acturial  Accrued  Liability

S. 5596                            29

("UAAL")  and  APV of future employer costs as of June 30, 2013 for Tier
III FIRE Members.
  FINANCIAL  IMPACT  - CHANGES IN PROJECTED APV OF FUTURE EMPLOYER COSTS
AND PROJECTED EMPLOYER COSTS: For purposes of this Fiscal  Note,  it  is
assumed  that  the  changes in APVB, APV of future member contributions,
UAAL and APV of future employer costs would be reflected for  the  first
time in the June 30, 2013 actuarial valuation of FIRE.
  Under  the  One-Year  Lag  Methodology  ("OYLM"),  the first year that
changes in benefits for Tier III  FIRE  Members  could  impact  employer
costs to FIRE would be Fiscal Year 2015.
  In  accordance  with ACNY Section 13.638.2(k-2), new UAAL attributable
to benefit changes are to be amortized as determined by the Actuary  but
generally  over  the remaining working lifetime of those impacted by the
benefit changes. As of June 30, 2013, the remaining working lifetime  of
the  Tier  III  FIRE Members is approximately 24 years. Recognizing that
this period will decrease over time as the group  of  Tier  III  Members
matures,  the  Actuary  would  likely  choose  to  amortize the new UAAL
attributable to this proposed legislation  over  a  15-year  to  20-year
period (between 14 and 19 payments under the OYLM Methodology). However,
since  virtually all of the Tier III FIRE members that would be impacted
by the benefit changes are new entrants, the resulting UAAL would be  de
minimis and therefore the amortization period used for the UAAL has very
little impact on the final results.
  The following Table 1 presents an estimate of the increases due to the
changes  in  ODR  and  ADR  provisions for Tier III FIRE Members and the
changes in eligibility requirements for presumptions  for  FIRE  Medical
Officers  in  the  APV of future employer costs and in employer costs to
FIRE for Fiscal Years 2015 through 2019 that would occur  based  on  the
applicable actuarial assumptions and methods noted herein:

                                 Table 1
                   Estimated Financial Impact on FIRE
                    If Certain Revisions are Made to
                   Provisions for ODR and ADR Benefits
              for Tier III FIRE Members and to Presumption
             Eligibility Requirements for Medical Officers *

                              ($ Millions)

                          Increase in APV of         Increase in Employer
Fiscal Year            Future Employer Costs             Costs

   2015                         $16.3                         $2.1
   2016                          68.3                          8.2
   2017                         120.1                         13.5
   2018                         173.1                         18.4
   2019                         227.3                         23.1

* Based on actuarial assumptions and methods set forth in the Actuarial
Assumptions and Method section. Also, based on the projection assumptions
as described herein.
  ODR  and  ADR  benefits  are  NOT subject to Tier III Escalation (RSSL
Section 510).
  The estimated increases in employer costs shown in Table 1  are  based
upon the following projection assumptions:

S. 5596                            30

  *  Level workforce (i.e., new employees are hired to replace those who
leave active status).
  * Projected salary increases consistent with those used in projections
presented  to  the  New  York  City  Office  of  Management  and  Budget
("NYCOMB") for use in the January 2015 Financial Plan ("Updated Prelimi-
nary Projections").
  * New entrant salaries consistent  with  those  used  in  the  Updated
Preliminary Projections.
  These  "open group" projections include future new entrants introduced
into the census data models to project the future workforces.
  As of each future actuarial valuation date, the current "closed group"
actuarial assumptions and valuation methodology are used.
  Under this methodology only Plan participants  as  of  each  actuarial
valuation date are utilized to determine APVs employer costs and employ-
er contributions.
  FINANCIAL  IMPACT  -  CHANGES  IN  PROJECTED  APV  OF  FUTURE EMPLOYER
CONTRIBUTIONS AND PROJECTED EMPLOYER CONTRIBUTIONS:  Since  the  assump-
tions used in the actuarial valuation of FIRE do not distinguish between
Medical  Officers  and other FIRE members and those assumptions for Tier
II members already incorporate some or all of the presumptions available
under law, the increase in employer contributions  and  in  the  APV  of
future employer contributions would be slightly less than those shown in
Table 1.
  FINANCIAL IMPACT - EMPLOYER ENTRY AGE NORMAL COSTS: Employer Entry Age
Normal Costs can provide a useful basis to compare the value of alterna-
tive benefit programs.
  For  each  member  who  enters FIRE, there is a theoretical net annual
employer cost to be paid for  such  member  while  such  member  remains
actively employed (i.e., the Employer Entry Age Normal Cost ("EEANC")).
  In  addition,  such  EEANC  may be expressed as a percentage of salary
earned over a working lifetime and referred to as the Employer Entry Age
Normal Rate ("EEANR").
  Under the proposed legislation and based on the actuarial  assumptions
noted  herein,  the  EEANC  and  EEANR of Tier III FIRE Members would be
greater than the EEANC and EEANR for comparable Tier  III  FIRE  Members
entering  at  the  same  attained  age and gender under the current FIRE
provisions.
  Table 2 shows a summary of the change  in  EEANR  for  Tier  III  FIRE
Members  who  have  a  date  of membership on or after April 1, 2012 for
entry ages 25, 30 and 35 with a starting salary of  $45,000,  determined
as of the most recent date of published EEANR calculations:

                                 Table 2
              Comparison of Employer Entry Age Normal Rates
                     Determined as of June 30, 2012*

             To Implement Certain ODR and ADR Provisions for
 Tier III FIRE Members with a Membership Date on or After April 1, 2012

                       Under Proposed Legislation
                                   and
                            Under Current Law

                   EEANR Under Proposed Legislation**

                 Entry Age 25        Entry Age 30        Entry Age 35

S. 5596                            31

Retirement
System          Male     Female     Male     Female     Male     Female
FIRE            21.92%   22.50%     27.31%   28.01%     34.55%   35.31%

                         EEANR Under Current Law

FIRE            15.94%   16.51%     18.99%   19.68%     21.78%   22.51%

              Increase in EEANR Due to Proposed Legislation

FIRE            5.98%    5.99%      8.32%    8.33%      12.77%   12.80%

  * Based on salaries paid over entire working lifetime. EEANR do not vary
significantly over time, absent benefit and/or actuarial assumption
changes.
  ** EEANR determined under the terms of the revised ODR and ADR benefit
provisions based on the Actuarial Assumptions and Methods as noted herein
including changes in assumptions for ADR. ODR and ADR benefits are
NOT subject to Tier III Escalation (RSSL Section 510).
  OTHER COSTS: Not measured in this Fiscal Note are the following:
  *  The  initial, additional administrative costs of FIRE and other New
York City agencies to implement the proposed legislation.
  * The potential  impact  if  this  proposed  legislation  were  to  be
extended to other public safety employees.
  *  The  impact  of  this  proposed legislation on Other Postemployment
Benefit ("OPEB") costs.
  CENSUS DATA: The  starting  census  data  used  for  the  calculations
presented  herein  are  the  census data used in the Updated Preliminary
June 30, 2013 (Lag) actuarial valuation of FIRE used  to  determine  the
Updated Preliminary Fiscal Year 2015 employer contributions.
  The census data used for the estimates of additional employer contrib-
utions  presented  herein  are based on average salaries of new entrants
utilized in the Updated Preliminary June 30, 2013 (Lag) actuarial  valu-
ations  used  to determine Updated Preliminary Fiscal Year 2015 employer
contributions of FIRE.
  The 169 Tier III FIRE Members as of June 30, 2013 (including  the  one
Tier III member who has a date of membership prior to April 1, 2012) had
an average age of approximately 27, average service of approximately 0.5
years and an average salary of approximately $48,200.
  There were 21 Medical Officers in FIRE as of June 30, 2013. Of the 21,
7 are currently eligible to utilize the statutory presumptions. In addi-
tion,  7  of  the  14 Medical Officers who are not currently eligible to
utilize the statutory presumptions became members  after  September  11,
2001  and, therefore, are unlikely to be eligible for World Trade Center
presumptive benefits but, if the proposed legislation is enacted,  could
become eligible for other presumptive benefits.
  ACTUARIAL  ASSUMPTIONS  AND  METHODS: The additional employer contrib-
utions presented herein have been  calculated  based  on  the  actuarial
assumptions  and methods in effect for the June 30, 2013 (Lag) actuarial
valuations used  to  determine  Updated  Preliminary  Fiscal  Year  2015
employer  contributions of FIRE and adjusted for revised ADR eligibility
provisions.
  The probabilities of accidental disability  used  for  Tier  III  FIRE
Members  in  the  event statutory presumptions were to apply equal those
currently used for Tier I and Tier II FIRE Members.

S. 5596                            32

  The actuarial valuation methodology does not include a calculation  of
the  value  of an offset for Workers' Compensation benefits as it is the
understanding of the Actuary that FIRE Members are not covered  by  such
benefits.
  To  the  extent  that the enactment of this proposed legislation would
cause a greater (lesser) number of Tier III FIRE Members to be reclassi-
fied from Ordinary Disability to Accidental Disability Retirement, or to
the extent that Tier III FIRE  Members  who  would  not  otherwise  ever
choose to apply and then receive an Ordinary Disability Retirement bene-
fit  or an Accidental Disability Retirement benefit, then the additional
APVB and employer contributions shown herein would be greater (lesser).
  Employer contributions under current methodology have  been  estimated
assuming  the  additional  APVB  would be financed through future normal
contributions including an amortization of the new UAAL attributable  to
this  proposed  legislation over a 15-year period (14 payments under the
OYLM Methodology).
  New entrants into Tier III FIRE Members were projected to replace  the
FIRE  members  expected  to  leave  the  active population to maintain a
steady-state population.
  The following Table 3 presents the total number of active employees of
FIRE used in the projections, assuming a level work force, and the cumu-
lative number (i.e., net of withdrawals) of Tier III Members as of  each
June 30 from 2013 through 2017.

                                 Table 3
             Surviving Actives from Census on June 30, 2013
                                   and
             Cumulative New Tier III FIRE Members from 2013
                        Used in the Projections*

June 30        Tier I&II           Tier III           Total

2013           10,013              169                10,182
2014           9,486               696                10,182
2015           8,988               1,194              10,182
2016           8,509               1,673              10,182
2017           8,055               2,127              10,182

  * Total active members included in the projections assume a level work
force  based on the June 30, 2013 (Lag) actuarial valuation census data.
Assumes presumptions apply to Tier III FIRE members.
  For purposes of estimating the impact of the Tier III  Escalation  for
retired  Tier  III  FIRE Members, consistent with an underlying Consumer
Price Inflation ("CPI") assumption of 2.5% per year, Tier III Escalation
of 2.5% per year has been assumed.
  This compares with the current Chapter 125 of the Laws  of  2000  COLA
assumption of 1.5% per year (i.e., 50% of CPI adjusted to recognize 1.0%
minimum and 3.0% maximum) on the first $18,000 of benefit.
  For  Variable  Supplements  Fund ("VSF") benefits, it has been assumed
that retroactive lump sum payments of VSF  ("DROP  payments")  would  be
payable from the completion of 20 years of service.
  ECONOMIC  VALUES OF BENEFITS: The actuarial assumptions used to deter-
mine the financial impact of the proposed legislation discussed in  this
Fiscal  Note  are those appropriate for budgetary models and determining
annual employer contributions to FIRE.

S. 5596                            33

  However, the economic assumptions (current and proposed) that are used
for determining employer contributions  do  not  develop  risk-adjusted,
economic  values  of  benefits.  Such  risk-adjusted, economic values of
benefits would likely differ significantly from those developed  by  the
budgetary models.
  STATEMENT OF ACTUARIAL OPINION: I, Robert C. North, Jr., am the Acting
Chief Actuary for the New York City Retirement Systems. I am a Fellow of
the Society of Actuaries and a Member of the American Academy of Actuar-
ies. I meet the Qualification Standards of the American Academy of Actu-
aries to render the actuarial opinion contained herein.
  FISCAL  NOTE  IDENTIFICATION:   This estimate is intended for use only
during the 2015 Legislative Session. It is Fiscal  Note  2015-07,  dated
February  27,  2015 prepared by the Acting Chief Actuary of the New York
Fire Department Pension Fund.

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Senate Bill S5596

Sponsored By

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee

May 28, 2015 - Floor Vote

Floor Vote: May 28, 2015

May 27, 2015 - Rules Committee Vote

Rules Committee Vote: May 27, 2015

co-Sponsors

2015-S5596 (ACTIVE) - Details

2015-S5596 (ACTIVE) - Summary

2015-S5596 (ACTIVE) - Sponsor Memo

2015-S5596 (ACTIVE) - Bill Text download pdf

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Senate Bill S5596

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Sponsored By

Martin J. Golden

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee

co-Sponsors

Tony Avella

David Carlucci

Simcha Felder

Jeffrey D. Klein

2015-S5596 (ACTIVE) - Details

2015-S5596 (ACTIVE) - Summary

2015-S5596 (ACTIVE) - Sponsor Memo

2015-S5596 (ACTIVE) - Bill Text download pdf

Comments