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A08051 Summary:

BILL NOA08051A
 
SAME ASNo Same As
 
SPONSORSchmitt
 
COSPNSR
 
MLTSPNSR
 
 
Grants retroactive membership with Tier IV status in the New York state and local employees' retirement system to Dana Kerstanski.
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A08051 Actions:

BILL NOA08051A
 
06/11/2021referred to governmental employees
01/05/2022referred to governmental employees
05/19/2022amend and recommit to governmental employees
05/19/2022print number 8051a
05/25/2022reported referred to ways and means
06/02/2022reported referred to rules
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A08051 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A8051A
 
SPONSOR: Schmitt
  TITLE OF BILL: An act granting retroactive tier IV status in the New York state and local employees' retirement system to Dana Kerstanski   PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to grant tier IV status in the New York state and local employees' retirement system, to Dana   SUMMARY OF PROVISIONS: More specifically, Section 1. Notwithstanding any other.provision of law to the contrary, Dana Kerstanski will be granted tier IV status in the New York state and local employees' returned system.   DIFFERENCE BETWEEN ORIGINAL AND AMENDED VERSION (IF APPLICABLE): Adds language from Fiscal Note   JUSTIFICATION: This measure will retroactively place Mr. Kerstanski in the correct retirement Tier, as his prior employer did not make him aware of the option to do so. Mr. Kerstanski was 14 years of age, a freshman in high school, at the time of hiring and there is no declination of entry into Tier IV of the system. Mr. Kerstanski was allowed to purchase the time back but was not given access to the proper tier.   PRIOR LEGISLATIVE HISTORY: N/A   FISCAL IMPLICATIONS: Movement of Tier Status for time already purchased back by Mr. Kerstan- ski.   EFFECTIVE DATE: This act shall take effect immediately.
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A08051 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8051--A
 
                               2021-2022 Regular Sessions
 
                   IN ASSEMBLY
 
                                      June 11, 2021
                                       ___________
 
        Introduced  by M. of A. SCHMITT -- read once and referred to the Commit-
          tee on Governmental Employees  --  recommitted  to  the  Committee  on
          Governmental  Employees  in accordance with Assembly Rule 3, sec. 2 --
          committee discharged, bill amended, ordered reprinted as  amended  and
          recommitted to said committee

        AN  ACT  granting  retroactive  tier IV status in the New York state and
          local employees' retirement system to Dana Kerstanski
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section 1. Notwithstanding any other provision of law to the contrary,
     2  Dana  Kerstanski,  who  was  employed as a substitute custodian with the
     3  Warwick Valley school district with a start date of May  10,  2006,  and
     4  who  is  currently  a  member of the New York state and local employees'
     5  retirement system, who through no fault of his  own  did  not  become  a
     6  member  of  the New York state and local employees' retirement system on
     7  May 10, 2006 when first employed by the Warwick Valley  school  district
     8  shall  be  deemed  to have been a member of the New York state and local
     9  employees' retirement system on such date he  commenced  his  employment
    10  and  shall  be  granted  Tier IV status, provided that an application is
    11  filed with the head of the New York state and local  employees'  retire-
    12  ment  system  within one year from the effective date of this act.  Upon
    13  the granting of such retroactive membership, Dana Kerstanski  shall  not
    14  be  granted  a refund of any employee contributed made by him to the New
    15  York state and local employees' retirement system.
    16    § 2. All past services costs associated  with  the  implementation  of
    17  this act shall be borne by the Warwick Valley school district.
    18    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  grant Tier 4 status in the New York State and Local
        Employees' Retirement System to Dana Kerstanski, a current Tier 6 member
        employed by the Monroe Woodbury Central  School  District,  by  changing
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10973-06-2

        A. 8051--A                          2
 
        their  date  of  membership to May 10, 2006.  There will be no refund of
        member contributions.
          If this bill is enacted during the 2022 legislative session, we antic-
        ipate  that  there  will  be  an increase of approximately $3,200 in the
        annual contributions of the Monroe Woodbury Central School District  for
        the  fiscal  year ending March 31, 2023. In future years, this cost will
        vary as the billing rates and salary of Dana Kerstanski change.
          In addition to the annual contributions discussed above, there will be
        an immediate past service cost of approximately $70,900  which  will  be
        borne  by  the  Warwick  Valley  Central  School  District as a one-time
        payment. This estimate is based on the assumption that payment  will  be
        made on February 1, 2023.
          Summary of relevant resources:
          Membership  data as of March 31, 2021 was used in measuring the impact
        of the proposed change, the same data used in the April 1, 2021 actuari-
        al valuation.  Distributions and other statistics can be  found  in  the
        2021  Report  of the Actuary and the 2021 Comprehensive Annual Financial
        Report.
          The actuarial assumptions and methods used are described in  the  2020
        and  2021 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, 2021
        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 fiscal note does not constitute a legal opinion on the  viability
        of  the  proposed change nor is it intended to serve as a substitute for
        the professional judgment of an attorney.
          This estimate, dated May 18, 2022, and intended for  use  only  during
        the  2022  Legislative Session, is Fiscal Note No. 2022-152, prepared by
        the Actuary for the New York State and Local Retirement System.
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