A 7073: Grants retroactive retirement membership in the New York state teachers' retirement system to Eileen Saumell.

  
  STATE OF NEW YORK ________________________________________________________________________ 7073 2025-2026 Regular Sessions  IN ASSEMBLY March 20, 2025 ___________ Introduced by M. of A. GANDOLFO -- read once and referred to the Commit- tee on Governmental Employees AN ACT granting retroactive retirement membership in the New York state teachers' retirement system to Eileen Saumell 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, Eileen Saumell 2 who is currently working at the West Babylon school district and a 3 member of the New York state teachers' retirement system, who was 4 employed as a full-time employee of the Nassau County Demonstration 5 Project, a non-participating employer of the New York state public 6 retirement systems, with a start date of August 8, 1994 until August 27, 7 2004, and at that time a member of the United Jewish Appeal-Federation 8 of Jewish Philanthropies of New York, Inc. Retirement Plan, could not 9 become a member of one of the New York state public retirement systems 10 on August 8, 1994, shall be granted service credit in the New York state 11 teachers' retirement system for her employment with the Nassau County 12 Demonstration Project for the period of August 8, 1994 until August 27, 13 2004, provided that an application is filed with the New York state 14 teachers' retirement system within one year from the effective date of 15 this act. 16 § 2. Eileen Saumell shall not be entitled to receive any pension bene- 17 fits otherwise due to her by the United Jewish Appeal-Federation of 18 Jewish Philanthropies of New York, Inc. Retirement Plan, and no contrib- 19 utions made to the United Jewish Appeal-Federation of Jewish Philanthro- 20 pies of New York, Inc. Retirement Plan by Eileen Saumell shall be 21 returned or refunded to her pursuant to this act. 22 § 3. All past service costs associated with the implementation of this 23 act shall be borne by Nassau County. 24 § 4. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04560-02-5 
 A. 7073 2 This bill would allow Eileen Saumell, an active member of the New York State Teachers' Retirement System with Tier 4 status, to receive service credit for the period August 8, 1994 until August 27, 2004 while she was employed with the Nassau County Demonstration Project, a non-participat- ing employer of the New York State public retirement systems. During Ms. Saumell's employment with the Nassau County Demonstration Project, she was a member of the United Jewish Appeal-Federation of Jewish Philan- thropies of New York, Inc. Retirement Plan and could not become a member of one of the New York State public retirement systems. Contributions made to the United Jewish Appeal-Federation of Jewish Philanthropies of New York, Inc. Retirement Plan by Ms. Saumell shall not be returned or refunded to her pursuant to this bill. Ms. Saumell must file a written request with the head of the New York State Teachers' Retirement System within one year of the effective date of this bill. The cost of this benefit is equal to the increase in the present value of liabilities, which is estimated to be $454,000. This cost would be borne by the county of Nassau. Granting service credit for employment with an organization that may potentially be considered a non-governmen- tal or private employer could jeopardize the System's governmental plan status and its exemption from ERISA which could result in the loss of tax-qualified status. Member data is from the System's most recent actuarial valuation files as of June 30, 2024, consisting of data provided by the employers to the Retirement System. The most recent data distributions and statistics can be found in the System's Annual Report for fiscal year ended June 30, 2024. System assets are as reported in the System's financial statements and can also be found in the System's Annual Report. Actuarial assump- tions and methods will be provided in the System's Actuarial Valuation Report as of June 30, 2024. The source of this estimate is Fiscal Note 2025-12 dated March 17, 2025 prepared by the Office of the Actuary of the New York State Teach- ers' Retirement System and is intended for use only during the 2025 Legislative Session. I, Richard A. Young, am the Chief Actuary for the New York State Teachers' Retirement System. I am a member of the Ameri- can Academy of Actuaries and I meet the Qualification Standards of the American Academy of Actuaries to render the actuarial opinion contained herein.