S 4450: Relates to granting retroactive Tier IV membership in the New York state and local employees' retirement system for Maureen Sullivan Nasca.

  
  STATE OF NEW YORK ________________________________________________________________________ 4450 2025-2026 Regular Sessions  IN SENATE February 5, 2025 ___________ Introduced by Sen. S. RYAN -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT granting retroactive tier IV membership in the New York state and local employees' retirement system to Maureen Sullivan Nasca 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 Maureen Sullivan Nasca, an employee of the Erie County Medical Center 3 and a member of the New York state and local employees' retirement 4 system, who was a full-time employee at the Roswell Park Comprehensive 5 Cancer Center from December 7, 1995 to December 22, 2013, and who, for 6 reasons not ascribable to her own negligence, failed to become a member 7 of such retirement system during such employment with the Roswell Park 8 Comprehensive Cancer Center in 1995, shall be deemed to have joined the 9 New York state and local employees' retirement system on the date of 10 December 7, 1995 and shall be granted Tier IV status in such retirement 11 system if, within one year of the effective date of this act, she shall 12 file a written request with the state comptroller. 13 § 2. No contributions made to the New York state and local employees' 14 retirement system by Maureen Sullivan Nasca shall be refunded or 15 returned to her pursuant to this act. 16 § 3. All past service costs of implementing the provisions of this act 17 shall be borne by the state of New York. 18 § 4. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would provide Maureen Sullivan Nasca with a date of member- ship of December 7, 1995, resulting in Tier 4 status in the New York State and Local Employees' Retirement System. Maureen Sullivan Nasca is currently a Tier 6 member employed by Erie County Medical Center. There will be no refund of member contributions. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04253-02-5 
 S. 4450 2 If this bill is enacted during the 2025 Legislative Session, we antic- ipate that there will be an increase of approximately $68,000 in the annual contributions of the Erie County Medical Center for the fiscal year ending March 31, 2026. In future years this cost will vary as the billing rates and salary of Maureen Sullivan Nasca change. In addition to the annual contributions discussed above, there will be an immediate past service cost of approximately $1.74 million which will be borne by the State of New York as a one-time payment. This estimate assumes that payment will be made on March 1, 2026. Summary of relevant resources: Membership data as of March 31, 2024 was used in measuring the impact of the proposed change, the same data used in the April 1, 2024 actuari- al valuation. Distributions and other statistics can be found in the 2024 Report of the Actuary and the 2024 Annual Comprehensive Financial Report. The actuarial assumptions and methods used are described in the 2024 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, 2024 New York State and Local Retirement System Financial Statements and Supplementary Information. 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 February 4, 2025, and intended for use only during the 2025 Legislative Session, is Fiscal Note No. 2025-38. As Chief Actuary of the New York State and Local Retirement System, I, Aaron Schottin Young, hereby certify that this analysis complies with applicable Actuarial Standards of Practice as well as the Code of Professional Conduct and Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion of the American Academy of Actuaries, of which I am a member.