Authorizes Karen McClure to file for Tier II status with the state comptroller because she is currently Tier III, but worked for Cattaraugus county starting in 1973.
TITLE OF BILL: An act in relation to allowing Karen McClure to file a request for Tier II status in the New York state and local employees' retirement system
PURPOSE: Grants retroactive Tier II membership in the New York State and Local Employees' Retirement System to Karen McClure.
SUMMARY OF SPECIFIC PROVISIONS: Section 1- States that Karen McClure was employed as a city auditor in the city of Olean and in the county of Cattaraugus in 1913, and was employed as a Treasurer for the County of Cattaraugus from July 1914 -September 1976, yet for reasons not ascribable to her own negligence, was not entered into Tier II of the retirement system. If, within one year of the effective date of this Act, she files a written request with the state comptroller, she will be entitled to the rights, benefits and privileges of Tier II status.
Section 3- Contains the effective date.
JUSTIFICATION: From July 1973 - September 1973, Karen McClure was employed as a city auditor for the city of Olean, Cattaraugus County. Additionally, she was employed as a treasurer for Cattaraugus County from July 1974 September 1976. Through no fault of her own, Ms. McClure was not offered membership in the New York State and Local Employees' Retirement System at this time. This legislation will retroactively place her into Tier II starting July 1, 1973. This bill will provide her with the same retirement benefits as other individuals who were employed during the same period.
PRIOR LEGISLATIVE HISTORY: S.7044 (Kennedy) Referenced to Senate Committee on Civil Service and Pensions
FISCAL IMPLICATIONS: $86,3000
EFFECTIVE DATE: This act shall take effect immediately.
STATE OF NEW YORK ________________________________________________________________________ 721 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________Introduced by Sen. GRISANTI -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT in relation to allowing Karen McClure to file a request for Tier II status in the New York state and local employees' retirement system THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any other provision of law, Karen McClure, who is a member of the New York state and local employees' retirement system, and who was employed as a city auditor in the city of Olean and in the county of Cattaraugus for the period beginning July 1973 and ending September 1973, and who was employed as a treasurer for the coun- ty of Cattaraugus for the period beginning July 1974 and ending Septem- ber 1976, and who for reasons not ascribable to her own negligence did not become a member of the New York state and local employees' retire- ment system at the time of her hiring and who is currently a Tier III member of the New York state and local employees' retirement system shall be deemed to have become a member of such system as of July 1, 1973 entitling her to Tier II status with every right, benefit and priv- ilege which would have been available to her on such date if, within one year of the effective date of this act, she shall file a written request to that effect with the state comptroller. Upon the granting of such retroactive membership, Karen McClure shall be granted a refund of any employee contributions made by her to the New York state and local retirement system. S 2. All past service costs associated with the implementation of this act shall be borne by the state of New York. S 3. This act shall take effect immediately. FISCAL NOTE.--This bill will deem Karen McClure to have become a member of the New York State and Local Employees' Retirement System on July 1, 1973, her first date of employment with the city of Olean,EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03047-02-3 S. 721 2 thereby granting her Tier 2 status. All member contributions will be refunded. If this bill is enacted, we anticipate that there will be an increase of approximately $2,900 in the annual contributions of Erie County for the fiscal year ending March 31, 2014. In addition to the annual contributions discussed above, there will be an immediate past service cost of approximately $86,300 which will be borne by the State of New York as a one-time payment. This estimate is based on the assumption that payment will be made on March 1, 2014. Summary of relevant resources: Data: March 31, 2012 Actuarial Year End File with distributions of membership and other statistics displayed in the 2012 Report of the Actuary and 2012 Comprehensive Annual Financial Report. Assumptions and Methods: 2010, 2011 and 2012 Annual Report to the Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the State of New York: Audit and Control. Market Assets and GASB Disclosures: March 31, 2012 New York State and Local Retirement System Financial Statements and Supplementary Informa- tion. Valuations of Benefit Liabilities and Actuarial Assets: summarized in the 2012 Actuarial Valuations report. I am a member of the American Academy of Actuaries and meet the Quali- fication Standards to render the actuarial opinion contained herein. This estimate, dated November 28, 2012 and intended for use only during the 2013 Legislative Session, is Fiscal Note No. 2013-11, prepared by the Actuary for the New York State and Local Employees' Retirement System.