S 6720: Grants retroactive Tier 5 status in the New York state and local employees' retirement system to Barbara Juh.

  
  STATE OF NEW YORK ________________________________________________________________________ 6720 2025-2026 Regular Sessions  IN SENATE March 20, 2025 ___________ Introduced by Sen. STEC -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT in relation to granting Barbara Juh Tier 5 status in the New York state and local employees' retirement system 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, Barbara Juh, 2 who is a retiree of the New York state and local employees' retirement 3 system, with Tier 6 status, and who was employed part-time as a regis- 4 tered nurse at the Adirondack Correctional Facility for the period 5 beginning September 16, 2010 and ending December 16, 2012, and who has 6 been employed full-time by the department of corrections and community 7 supervision beginning December 17, 2012 and ending December 31, 2021, 8 and who, for reasons not ascribable to her own negligence, failed to 9 become a member of the New York state and local employees' retirement 10 system on September 16, 2010, shall be deemed to have been a member of 11 such retirement system with Tier 5 status on and after September 16, 12 2010, if on or before 6 months after the effective date of this act, she 13 shall file a written request to that effect with the state comptroller. 14 Upon the granting of such retroactive membership, Barbara Juh shall not 15 be granted a refund of any employee contributions made by her to the New 16 York state and local employees' retirement system. 17 § 2. Any past service costs incurred in implementing the provisions of 18 this act shall be borne by the state of New York. 19 § 3. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would provide Barbara Juh with a date of membership of September 16, 2010, their date of first employment with the Adirondack Correctional Facility, resulting in Tier 5 status in the New York State and Local Employees' Retirement System. Barbara Juh is currently a Tier 6 retiree. Their retirement benefit will be recalculated and payment EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04881-02-5 
 S. 6720 2 will be made retroactive to their date of retirement. There will be no refund of member contributions. If this bill is enacted during the 2025 Legislative Session, there will be an immediate past service cost of approximately $17,000, which will be borne by the State of New York as a one-time payment. This esti- mate 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 March 19, 2025, and intended for use only during the 2025 Legislative Session, is Fiscal Note No. 2025-120. As Chief Actuary of the New York State and Local Retirement System, I, Aaron Schottin Young, hereby certify that this analysis complies with applica- ble 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.