New York S 7958: Grants retroactive tier IV membership in the New York city employees' retirement system to Ryan D. O'Connor

Bill Text

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S07958 Summary:

BILL NOS07958B

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SAME ASSAME AS A08575-A

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SPONSORSKOUFIS

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COSPNSR

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MLTSPNSR

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Grants retroactive tier IV membership in the New York city employees' retirement system to Ryan D. O'Connor.

Go to top S07958 Actions:

BILL NOS07958B

&nbsp

05/15/2025REFERRED TO CIVIL SERVICE AND PENSIONS

05/21/2025AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS

05/21/2025PRINT NUMBER 7958A

05/27/2025REPORTED AND COMMITTED TO FINANCE

01/07/2026REFERRED TO CIVIL SERVICE AND PENSIONS

04/17/2026AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS

04/17/2026PRINT NUMBER 7958B

Go to topS07958 Committee&nbspVotes:

Go to topS07958 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS07958 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7958--B

 2025-2026 Regular Sessions

 IN SENATE

 May 15, 2025
 ___________

 Introduced by Sen. SKOUFIS -- read twice and ordered printed, and when
 printed to be committed to the Committee on Civil Service and Pensions
 -- committee discharged, bill amended, ordered reprinted as amended
 and recommitted to said committee -- recommitted to the Committee on
 Civil Service and Pensions in accordance with Senate Rule 6, sec. 8 --
 committee discharged, bill amended, ordered reprinted as amended and
 recommitted to said committee

 AN ACT in relation to granting retroactive tier IV membership in the New
 York city employees' retirement system to Ryan D. O'Connor

 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 Ryan D. O'Connor, an employee of the metropolitan transportation author-
 3 ity metro-north railroad as of April 26, 2023 and a member of the metro-
 4 politan transportation authority defined benefit pension plan, who was
 5 employed with the New York city transit authority from January 19, 2012
 6 through April 25, 2023 and who was a member of the New York city
 7 employees' retirement system through April 25, 2023, who for reasons
 8 not ascribable to his own negligence, failed to become a member of such
 9 retirement system during such employment with the New York city transit
 10 authority until September 10, 2012, shall be deemed to have joined the
 11 New York city employees' retirement system from January 19, 2012 and
 12 shall be granted Tier IV status in such retirement system, if, within
 13 one year of the effective date of this act, he shall file a written
 14 request with the New York city employees' retirement system.
 15 § 2. No contributions made to the New York city employees' retirement
 16 system by Ryan D. O'Connor shall be returned or refunded to him pursuant
 17 to this act.
 18 § 3. All past service costs of implementing the provisions of this act
 19 shall be borne by the city of New York.
 20 § 4. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00924-04-6

 S. 7958--B 2

 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 SUMMARY: This proposed legislation would permit Ryan D. O'Connor, a
 vested Tier 6 member of the New York City Employees' Retirement System
 (NYCERS), to elect, by filing a written request with NYCERS within one
 year of the effective date, membership in the Tier 4 NYCERS 57/5 Plan.

 EXPECTED INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS
 by Fiscal Year for the first 25 years ($)
 Year NYCERS
 2027 0
 2028 17,500
 2029 0
 2030 0
 2031 0
 2032 0
 2033 0
 2034 0
 2035 0
 2036 0
 2037 0
 2038 0
 2039 0
 2040 0
 2041 0
 2042 0
 2043 0
 2044 0
 2045 0
 2046 0
 2047 0
 2048 0
 2049 0
 2050 0
 2051 0

 While the past service costs for this member would normally be borne
 by the New York City Transit Authority, the proposed legislation assigns
 such costs to the City of New York.

 PRESENT VALUE OF BENEFITS: The Present Value of Benefits is the
 discounted expected value of benefits paid to current members if all
 assumptions are met, including future service accrual and pay increases.
 Future new hires are not included in this present value.

 INITIAL INCREASE (DECREASE) IN ACTUARIAL PRESENT VALUES
 as of June 30, 2026 ($)
 Present Va