NY State Senate Bill 2013-S7256A

Senate Bill S7256A

2013-2014 Legislative Session

Relates to allowing members of the NYSLPFRS to receive credit for service rendered with Metro-North, the L.I. Railroad or MTA

download bill text pdf

Archive: Last Bill Status - In Senate Committee Finance 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

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 16, 2014	print number 7256a
Jun 16, 2014	amend (t) and recommit to finance
May 28, 2014	reported and committed to finance
May 08, 2014	referred to civil service and pensions

Votes

- May 28, 2014 - Civil Service And Pensions Committee Vote
  S7256A
  
  9
  
  Aye
  
  0
  
  Nay
  
  2
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Civil Service And Pensions Committee Vote: May 28, 2014
      
      aye (9)
      
      Addabbo Jr.
      
      Dilan
      
      Golden
      
      Hannon
      
      Lanza
      
      Perkins
      
      Ritchie
      
      Sanders Jr.
      
      Savino
      
      aye wr (2)
      
      Martins
      
      Maziarz

Bill Amendments

Original

A (Active)

2013-S7256 - Details

See Assembly Version of this Bill:: A9593
Current Committee:: Senate Finance
Law Section:: Retirement and Social Security Law
Laws Affected:: Amd §343, R & SS L
Versions Introduced in 2015-2016 Legislative Session:: S5785, A7547

2013-S7256 - Summary

Allows any police officer who was employed by the Metropolitan Transportation Authority, the Long Island Railroad Company or the Metro-North Commuter Railroad Company and who is a member of the MTA police retirement program to transfer his or her membership to the New York State and Local Police and Fire Retirement System.

2013-S7256 - Sponsor Memo

2013-S7256 - Bill Text download pdf

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

                                  7256

                            I N  S E N A T E

                               May 8, 2014
                               ___________

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, in  relation  to
  providing  prior police service credit for police officers employed by
  employers not participating in the New York state and local police and
  fire retirement system who are hired by the state or  a  participating
  employer  in  the  New York state and local police and fire retirement
  system

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

  Section  1.  Subdivision b of section 341 of the retirement and social
security law is amended by adding a new paragraph 9 to read as follows:
  9. NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS  SUBDIVISION,  ANY
POLICE EMPLOYEE WHO HAD PRIOR POLICE SERVICE WITH THE METRO-NORTH COMMU-
TER  RAILROAD COMPANY, THE LONG ISLAND RAILROAD COMPANY OR THE METROPOL-
ITAN TRANSPORTATION AUTHORITY SHALL BE GIVEN  CREDIT  FOR  SUCH  SERVICE
WHEN  HE  OR  SHE  RENDERS AT LEAST TWO YEARS OF MEMBER SERVICE WITH THE
STATE OR ANY PARTICIPATING EMPLOYER.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill would allow members of the New York State and  Local  Police
and  Fire Retirement System (PFRS) to receive service credit for service
rendered with the Metro-North Commuter Railroad Company, the Long Island
Railroad Company or  the  Metropolitan  Transportation  Authority.  Such
members must render at least two (2) years of service with a participat-
ing employer to receive credit for such service.
  The number of members who could be affected by this legislation cannot
be readily determined.
  If  this bill is enacted, there would be a past service cost on behalf
of each member with such service, and would depend on the member's  age,
credited  service, plan, salary and the amount of the additional service
credit being granted. It is estimated that the past  service  cost  will
average  approximately 20% of an affected members' compensation for each
such year of additional service. This cost would  be  reduced    by  the

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

                                                           LBD14284-02-4

S. 7256                             2

member  contributions,  which  vary according to tier coverage, and will
range between 0% to 6% of compensation. This cost would be shared by the
State of New York and all participating employers in the PFRS.
  Summary of relevant resources:
  The  membership  data  used  in  measuring  the impact of the proposed
change was the same as that used in the March 31, 2013  actuarial  valu-
ation.    Distributions  and  other  statistics can be found in the 2013
Report of the  Actuary  and  the  2013  Comprehensive  Annual  Financial
Report.
  The  actuarial assumptions and methods used are described in the 2010,
2011, 2012, and 2013 Annual  Report  to  the  Comptroller  on  Actuarial
Assumptions,  and  the  Codes  Rules and Regulations of the State of New
York: Audit and Control.
  The Market Assets and GASB Disclosures are found in the March 31, 2013
New York State and Local  Retirement  System  Financial  Statements  and
Supplementary Information.
  I am a member of the American Academy of Actuaries and meet the Quali-
fication Standards to render the actuarial opinion contained herein.
  This  estimate, dated March 17, 2014, and intended for use only during
the 2014 Legislative Session, is Fiscal Note No. 2014-100,  prepared  by
the  Actuary for the New York State and Local Police and Fire Retirement
System.

2013-S7256A (ACTIVE) - Details

See Assembly Version of this Bill:: A9593
Current Committee:: Senate Finance
Law Section:: Retirement and Social Security Law
Laws Affected:: Amd §343, R & SS L
Versions Introduced in 2015-2016 Legislative Session:: S5785, A7547

2013-S7256A (ACTIVE) - Summary

2013-S7256A (ACTIVE) - Sponsor Memo

2013-S7256A (ACTIVE) - Bill Text download pdf

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

                                 7256--A

                            I N  S E N A T E

                               May 8, 2014
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions
  -- reported favorably from said committee and committed to the Commit-
  tee  on  Finance  --  committee  discharged,  bill  amended,   ordered
  reprinted as amended and recommitted to said committee

AN  ACT  to amend the retirement and social security law, in relation to
  allowing the transfer of  membership  in  the  MTA  police  retirement
  program  to  the  New  York state and local police and fire retirement
  system

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

  Section  1.  Subdivision a of section 343 of the retirement and social
security law, as amended by chapter 728 of the laws of 2006, the opening
paragraph as further amended by section 104 of part A of chapter  62  of
the laws of 2011, is amended to read as follows:
  a. Notwithstanding any other provision of law providing for transfers,
any member of any retirement system maintained by the state or a munici-
pality  thereof, operating on a sound financial basis and subject to the
supervision of the department of financial services of  this  state  may
transfer  his or her membership pursuant to this section to the New York
state and local employees' retirement system, the New York city board of
education employees' retirement system, the  New  York  state  teachers'
retirement  system, the New York state and local police and fire retire-
ment system or to the New York city employees'  retirement  system.  Any
member of the New York state and local police and fire retirement system
may  transfer his or her membership to any retirement system, other than
the hospital retirement system, which is operating on a sound basis  and
is subject to the supervision of the department of financial services of
this  state. Any police officer employed by the metropolitan transporta-
tion authority who is a member of the MTA police twenty year  retirement
program  of  the  metropolitan  transportation authority defined benefit
pension plan (hereinafter referred to in this section as the "MTA police
retirement program") may transfer his or her membership in the New  York
state  and  local  police and fire retirement system and/or the New York

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

                                                           LBD14284-05-4

S. 7256--A                          2

city police pension fund to the MTA  police  retirement  program.    ANY
POLICE  OFFICER  WHO  WAS  EMPLOYED  BY  THE METROPOLITAN TRANSPORTATION
AUTHORITY, THE LONG ISLAND RAILROAD COMPANY OR THE METRO-NORTH  COMMUTER
RAILROAD  COMPANY  AND  WHO  IS  A  MEMBER  OF THE MTA POLICE RETIREMENT
PROGRAM MAY TRANSFER HIS OR HER MEMBERSHIP IN THE MTA POLICE  RETIREMENT
PROGRAM  TO  THE  NEW  YORK  STATE  AND LOCAL POLICE AND FIRE RETIREMENT
SYSTEM. Any transfer pursuant to this section may be effectuated only if
the member has accepted a position in another branch  of  the  state  or
municipal service which would make it:
  1.  Impossible  for him or her to continue in the retirement system of
which he or she has been a member, and
  2. Possible for him or her to participate in another such system.
  Notwithstanding the foregoing  provisions  of  this  subdivision,  any
employee  who  would  be  eligible  to  avail  himself or herself of the
provisions of this section but for being on leave of absence status from
a prior employment while in his or  her  present  employment,  shall  be
permitted  to  transfer his or her retirement system membership pursuant
to the provisions of this section.
  S 2. Subdivision h of section 343 of the retirement and social securi-
ty law, as amended by chapter 728 of the laws of  2006,  is  amended  to
read as follows:
  h.  Notwithstanding  any  other provision of law to the contrary, with
respect to transfers pursuant to this section which occur  on  or  after
the  effective  date  of this subdivision, no determination of a reserve
pursuant to subdivision c of this section or transfer  thereof  pursuant
to the first sentence of subdivision d of this section shall be required
in  the  case  of  any  transfer  pursuant to this section (other than a
transfer from the New York state and local police  and  fire  retirement
system  to either (1) the New York city police department subchapter two
pension fund, (2) the New  York  city  fire  department  subchapter  two
pension fund or (3) the MTA police retirement program or a transfer from
either  (i)  the  New York city police department subchapter two pension
fund or (ii) the New York city fire department  subchapter  two  pension
fund  to either (A) the New York state and local police and fire retire-
ment system or (B) the MTA police retirement program OR A TRANSFER  FROM
THE MTA POLICE RETIREMENT PROGRAM TO THE NEW YORK STATE AND LOCAL POLICE
AND FIRE RETIREMENT SYSTEM).  For the purpose of giving the transferring
member  such  status and crediting such service in the second retirement
system as such member was allowed in  the  first  retirement  system  in
those cases to which this subdivision shall apply, the transfer shall be
deemed complete upon receipt by the second retirement system of:
  1.  a  statement  from the first retirement system of the transferring
member's date of membership in the first retirement system, tier status,
service credited to such membership being transferred,  and  such  other
information  as  the  second retirement system may require to effectuate
the transfer; and
  2. such member's accumulated contributions from the  first  retirement
system,  if  same  had not been previously withdrawn, or notice from the
first retirement system that such member  had  no  accumulated  contrib-
utions,  or  notice  from the first retirement system that such member's
accumulated contributions had been withdrawn and the amount thereof and,
as applicable, receipt from such member  of  such  member's  accumulated
contributions and interest.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:

S. 7256--A                          3

  This  bill  would  allow  any  police  officer who was employed by the
Metropolitan Transportation Authority, the Long Island Railroad  Company
or  the Metro-North Commuter Railroad Company and who is a member of the
MTA police retirement program to transfer his or her membership  in  the
MTA police retirement program to the New York State and Local Police and
Fire Retirement System (PFRS). Upon such transfer, the reserves from the
MTA police retirement program will be transferred to the PFRS.
  If  this  bill is enacted, we anticipate that there will be no cost to
the State of New York and the participating employers in the PFRS.
  Summary of relevant resources:
  The membership data used in  measuring  the  impact  of  the  proposed
change  was  the same as that used in the March 31, 2013 actuarial valu-
ation.  Distributions and other statistics can  be  found  in  the  2013
Report  of  the  Actuary  and  the  2013  Comprehensive Annual Financial
Report.
  The actuarial assumptions and methods used are described in the  2010,
2011,  2012  and  2013  Annual  Report  to  the comptroller on Actuarial
Assumptions, and the Codes Rules and Regulations of  the  State  of  New
York: Audit and Control.
  The Market Assets and GASB Disclosures are found in the March 31, 2013
New  York  State  and  Local  Retirement System Financial Statements and
Supplementary Information.
  I am a member of the American Academy of Actuaries and meet the Quali-
fication Standards to render the actuarial opinion contained herein.
  This estimate, dated June 16, 2014, and intended for use  only  during
the  2014  Legislative  Session, is Fiscal Note No. 2014-154 prepared by
the Actuary for the New York State and Local Police and Fire  Retirement
System.

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