Bill Text: NY S01968 | 2015-2016 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Provides equal retirement benefits for persons who have been appointed to the title of correction lieutenant, captain, deputy assistant superintendent and superintendent in the department of corrections and community supervision.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-06-07 - PRINT NUMBER 1968B [S01968 Detail]

Download: New_York-2015-S01968-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1968
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                   January 15, 2015
                                      ___________
       Introduced  by Sen. GALLIVAN -- 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   equal  retirement  benefits  for  persons  who  have  been
         appointed  to  the  title  of  superintendent  in  the  department  of
         corrections and community supervision
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Clause (ii) of subparagraph (b) of paragraph 2 of  subdivi-
    2  sion  a  of  section  600  of the retirement and social security law, as
    3  amended by section 149 of subpart B of part C of chapter 62 of the  laws
    4  of  2011, is amended and three new clauses (iii), (iv) and (v) are added
    5  to read as follows:
    6    (ii) a person who serves in the title of superintendent  as  of  April
    7  first,  two  thousand  six,  who has had at least seven years of service
    8  credited toward the retirement plan established pursuant to this article
    9  while employed by the department of  corrections  and  community  super-
   10  vision  and  who elects the retirement plan established pursuant to this
   11  article on  or  before  September  thirtieth,  two  thousand  six.  Such
   12  election  shall be in writing, shall be duly executed and filed with the
   13  comptroller and shall be irrevocable as long as such person  is  in  the
   14  title of superintendent[.]; OR
   15    (III)  A  PERSON  WHO IS APPOINTED TO THE TITLE OF SUPERINTENDENT, WHO
   16  HAS SERVED AT LEAST TWENTY-FIVE YEARS  AS  A  MEMBER  IN  THE  UNIFORMED
   17  PERSONNEL  IN  INSTITUTIONS  UNDER THE JURISDICTION OF THE DEPARTMENT OF
   18  CORRECTIONS AND COMMUNITY SUPERVISION AND WHO ELECTS THE RETIREMENT PLAN
   19  ESTABLISHED PURSUANT TO THIS ARTICLE WITHIN NINETY DAYS OF  HIS  OR  HER
   20  APPOINTMENT.   SUCH ELECTION SHALL BE IN WRITING, SHALL BE DULY EXECUTED
   21  AND FILED WITH THE COMPTROLLER AND SHALL BE IRREVOCABLE AS LONG AS  SUCH
   22  PERSON IS IN THE TITLE OF SUPERINTENDENT; OR
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01296-02-5
       S. 1968                             2
    1    (IV)  A PERSON WHO SERVES IN THE TITLE OF SUPERINTENDENT ON THE EFFEC-
    2  TIVE DATE OF THIS CLAUSE, WHO HAS SERVED AT LEAST TWENTY-FIVE YEARS AS A
    3  MEMBER IN THE UNIFORMED PERSONNEL IN INSTITUTIONS UNDER THE JURISDICTION
    4  OF THE DEPARTMENT OF  CORRECTIONS  AND  COMMUNITY  SUPERVISION  AND  WHO
    5  ELECTS  THE  RETIREMENT PLAN ESTABLISHED PURSUANT TO THIS ARTICLE WITHIN
    6  NINETY DAYS OF THE EFFECTIVE DATE OF THIS CLAUSE. SUCH ELECTION SHALL BE
    7  IN WRITING, SHALL BE DULY EXECUTED AND FILED WITH  THE  COMPTROLLER  AND
    8  SHALL  BE  IRREVOCABLE  AS LONG AS SUCH PERSON IS IN THE TITLE OF SUPER-
    9  INTENDENT; OR
   10    (V) A PERSON WHO HAS RETIRED WHILE SERVING IN THE TITLE OF SUPERINTEN-
   11  DENT, WHO HAS SERVED AT LEAST TWENTY-FIVE  YEARS  AS  A  MEMBER  IN  THE
   12  UNIFORMED  PERSONNEL  IN  INSTITUTIONS  UNDER  THE  JURISDICTION  OF THE
   13  DEPARTMENT OF CORRECTIONS AND COMMUNITY SUPERVISION AND WHO  ELECTS  THE
   14  RETIREMENT  PLAN ESTABLISHED PURSUANT TO THIS ARTICLE WITHIN NINETY DAYS
   15  OF THE EFFECTIVE DATE OF THIS CLAUSE. SUCH ELECTION SHALL BE IN WRITING,
   16  SHALL BE DULY EXECUTED AND FILED WITH THE COMPTROLLER AND SHALL BE IRRE-
   17  VOCABLE.
   18    S 2. This act shall take effect immediately.
         FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
         This bill would allow certain Tier 3, 5 and  6  superintendents  under
       the  jurisdiction  of the department of corrections and community super-
       vision of New York state to become eligible to  receive  benefits  under
       the  provisions  of Article 15 of the Retirement and Social Security Law
       in addition to the half-pay plan at 25 years benefit.  This  bill  would
       also  cover retired superintendents. Current and future affected members
       and retirees would have 90 days from the later of the effective date  of
       this bill and their date of being appointed to a superintendent position
       to file for this benefit.
         If this bill is enacted, we anticipate that there will be an immediate
       past service cost of approximately $4.10 million which would 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, 2016.
         In addition to this cost, there would also be costs for future  super-
       intendents  who elect this benefit. These costs would depend on the age,
       service, salary and tier of the affected members, and would be  paid  by
       the State of New York as one time payments as they occur.
         These  estimated  costs  are  based on 27 superintendents with a total
       annual salary of approximately $2.9 million for the fiscal  year  ending
       March 31, 2014.
         Summary of relevant resources:
         The  membership  data  used  in  measuring  the impact of the proposed
       change was the same as that used in the March 31, 2014  actuarial  valu-
       ation.    Distributions  and  other  statistics can be found in the 2014
       Report of the  Actuary  and  the  2014  Comprehensive  Annual  Financial
       Report.
         The  actuarial assumptions and methods used are described in the 2010,
       2011, 2012, 2013 and 2014 Annual Report to the Comptroller on  Actuarial
       Assumptions,  and  the  Codes  Rules and Regulations of the State of New
       York: Audit and Control.
         The Market Assets and GASB Disclosures are found in the March 31, 2014
       New York State and Local  Retirement  System  Financial  Statements  and
       Supplementary Information.
         I am a member of the American Academy of Actuaries and meet the Quali-
       fication   Standards  to  render  the  statement  of  actuarial  opinion
       contained herein.
       S. 1968                             3
         This estimate, dated January 12, 2015 and intended for use only during
       the 2015 Legislative Session, is Fiscal Note No.  2015-23,  prepared  by
       the  Actuary  for  the  New  York  State and Local Employees' Retirement
       System.